Lehigh Valley

Buyer of Sands Casino gives minor details of purchase plan

Wind Creek Hospitality set to purchase for $1.3B

BETHLEHEM, Pa. - Wind Creek Hospitality has laid out some forward-looking statements in regards to its plans to purchase Sands Casino Resort in Bethlehem.

It says it expects to fund the purchase with existing cash on its balance sheet as well as with new debt financing, according to a news release from the company. Wind Creek anticipates the additional cash it receives from the acquisition will allow it to pay down debt at an accelerated rate after closing. 

Wind Creek Hospitality is an affiliate of the Poarch Band of Creek Indians and owns nine gaming and entertainment facilities across the U.S. and the Caribbean. Its main resorts are located on the tribe's reservation lands in Alabama, the news release states. 

The tribe announced Thursday it's set to acquire the Sands Bethlehem property for $1.3 billion.

While the Pennsylvania Gaming Control Board is launching a standard investigation following the announcement of the sale of the Sands, which could take up to a year, Wind Creek and the Sands expect the transaction to be finalized in late 2018 or early 2019.

Sands Bethlehem President Brian Carr says the pending sale will not impact the work of Sands employees and feels the transition will be seamless.

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