Las Vegas Sands starts the construction of Sands
Bethworks Casino
With the historic Bethlehem Steel plant as a
backdrop, local elected officials and Las Vegas Sands Corp.
(NYSE: LVS) executives today celebrated the beginning of
construction at Sands Bethworks(TM).
Promising to bring new life to the old steel
mill, Sands Bethworks will be a multifaceted shopping, dining,
entertainment and casino complex designed to be compatible with
the existing architecture and industrial heritage. "Bethlehem is
a beautiful place and we are excited and ready to return this
great landscape to its past glory. We take pride in our ability
to construct compelling, creative and successful resorts, places
that our guests have chosen as their destination of choice time
and again," said William P. Weidner, president and chief
operating officer of Las Vegas Sands Corp. "Not only will this
property attract visitors but it will also appeal to local
residents by stimulating reinvestment in the region and creating
new economic opportunities for the city of Bethlehem and the
entire Lehigh Valley."
In its first phase, the 126-acre development
will feature a 300-room hotel, a 200,000 square foot retail
facility, 3,000 slot machines, and a variety of dining and
entertainment options. Sands Bethworks will also be home to the
National Museum of Industrial History, an arts and cultural
center, and the broadcast home of the local PBS affiliate. "We
are on track to develop a property that the region will be proud
of and we are confident that everyone will enjoy the variety of
options available. With so many choices under one roof, guests
will be amazed as they are presented with top-notch shopping,
dining and entertainment," said Bradley H. Stone, executive vice
president of Las Vegas Sands Corp.
"Also, as promised, it will contain varying
components that will allow us to keep the integrity of the
Bethlehem Steel buildings, preserving the industrial giant's
place in history." Sands Bethworks is a model for 'Smart Growth'
redevelopment of a major brownfield site and will incorporate
many of the remaining historical elements of the famed plant.
For example, the massive ore crane will be part of the casino
design and will serve as a reminder of the "old days" when
visitors drive under it as they approach the brick-and-steel
porte cochere.
Design elements such as exposed steel,
back-lit perforated metal screens and soaring, transparent glass
monitors will be featured within a number of existing buildings.
"With construction underway and our long-term commitment firmly
established, we look forward to providing new opportunities for
so many in the area.
From the creation of jobs, to the local
businesses that we will team up with, Sands Bethworks is ready
to become a vital part of the community," stated Robert J.
DeSalvio, president of Sands Bethworks. Executives from Las
Vegas Sands along with the City of Bethlehem's Mayor John
Callahan, Council President Michael Schweder and Councilwoman
Maggie Szabo were on hand in Bethlehem, Pennsylvania to
commemorate this historic occasion. Statements in this press
release, which are not historical facts, are "forward-looking"
statements that are made pursuant to the Safe Harbor Provisions
of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements involve a number of risks,
uncertainties or other factors beyond the Company's control,
which may cause material differences in actual results,
performance or other expectations. These factors include, but
are not limited to general economic conditions, competition, new
ventures, government regulation, legalization of gaming,
interest rates, future terrorist acts, insurance, and other
factors detailed in the reports filed by Las Vegas Sands Corp.
with the Securities and Exchange Commission.
Source: Press Release
05/14/2007
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