Juliano says property’s “best days are ahead”
Las Vegas Sands Corporation has squelched months of speculation in the industry and in the press that its Pennsylvania property, Sands Casino Resort Bethlehem, was for sale, announcing a plan to commit substantial future investment in the property.
Putting an exclamation point on its commitment to Bethlehem, LVS announced that longtime gaming executive Mark Juliano will be the new president of Sands Bethlehem. Juliano will take over for Douglas Niethold, who has served as interim president since original president Bob DeSalvio resigned last year to join Wynn Resorts in Massachusetts.
Juliano most recently was executive vice president of the operator’s Marina Bay Sands property in Singapore. He has a long history in East Coast gaming operations, having most recently served as CEO of Trump Entertainment Resorts in Atlantic City. He also was president of Caesars Atlantic City and chairman of the Atlantic City Convention and Visitors Authority. Juliano also served as president of Caesars Palace in Las Vegas.
In a press statement released May 2, Las Vegas Sands said explicitly that the company “has no intention of selling its market-leading property in Pennsylvania and, in fact, is working on a variety of concepts in which the company would further invest in the property.”
“We are certainly proud of the financial success Sands Bethlehem has achieved, but we are also very proud of fulfilling the commitments we made to the people of the Lehigh Valley,” said LVS Chairman Sheldon Adelson in the statement. “Bringing pride back to a historic site many thought was lost for good is the real legacy of Sands Bethlehem, and that is the foundation on which we will continue to build.”
Sands Bethlehem is a master-planned resort including a hotel and a retail center and future attractions to be built, all on the former site of the historic Bethlehem Steel Company.
LVS President and Chief Operating Officer Michael Leven said the company appreciates the loyalty and dedication exhibited by the property’s employees, despite all the sale rumors. (It was Leven’s comment to a reporter in January that LVS would sell the Bethlehem property “for the right price” that prompted much of the speculation.)
“Many of our people have been with us at Sands Bethlehem since the first day the doors opened, and they have had to endure some trying events in recent months, including waves of media speculation about the future of the property,” Leven said. “Today, that speculation stops, and a new chapter in the history of Sands Bethlehem begins.”
Leven said Juliano’s knowledge of the East Coast and previous operating experience in the region will make for a smooth transition, ensuring the property maintains the positive leadership role it plays in the community.
“Sands Bethlehem has become one of the leading entertainment and casino destinations on the East Coast, and I am very excited to be joining the team,” Juliano said. “The property has had a tremendous run to this point, but I think there is a real sense of optimism that our best days are still ahead.”
Juliano’s appointment is subject to licensing by the Pennsylvania Gaming Control Board.
Bethlehem Mayor Bob Donchez headed the local officials praising the announcement by LVS. “I’m pleased, because the Sands has been a very, very good partner to the city,” Donchez told the Lehigh Valley’s Express-Times. “I’m looking forward to them remaining a very good corporate citizen.”
The announcement came two days after Sands Bethlehem’s license was renewed for three years by the Pennsylvania Gaming Control Board.
