Las Vegas-based Sands Corp. has no intention of selling its casino in Bethlehem, which it calls a market-leading property in Pennsylvania, and it is working on "a variety of concepts" to further invest in the property.
A company official said the announcement will end "waves of media speculation" about the future of the Bethlehem casino.
On Friday, the corporation also announced it has appointed Mark Juliano, an executive with extensive East Coast ties and industry experience, as new president of the Bethlehem casino.
"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 in a news release.
"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."
"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," said Las Vegas Sands president and chief operating officer Michael Leven.
"Today, that speculation stops, and a new chapter in the history of Sands Bethlehem begins," stated Leven.
He said the company is extremely proud and appreciative of the continued loyalty and dedication exhibited by the property's team members.
"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 Sheldon G. Adelson, chairman and chief executive officer of Las Vegas Sands.
"Bringing pride back to an 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."
Juliano comes from Marina Bay Sands, the company's integrated resort in Singapore, where he served as senior vice president and chief casino officer.
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.
Company spokesmen said Juliano has broad hospitality and gaming industry experience, having served in senior roles in both Atlantic City and Las Vegas.
His previous positions include president and chief operations officer of Caesars Palace in Las Vegas, chief executive officer of Trump Entertainment Resorts, president of Caesars Atlantic City and chairman of the Atlantic City Convention and Visitors Authority.
Juliano will replace Robert DeSalvio who in February resigned as president and CEO of the Sands in Bethlehem, with no explanation.
Doug Niethold has been serving as interim president of the casino.
Juliano's appointment is subject to licensing by the Pennsylvania Gaming Control Board.