Morning Call: Sands Bethlehem Sale ‘Imminent’
Wall Street is loving the idea that the Sands Bethlehem Casino could soon be sold to MGM.
"We believe a Sands Bethlehem sale, which would likely include MGP, could also be beneficial for all involved," Carlo Santarelli, Deutsche Bank Securities Gaming and Leisure managing director, wrote in a six-page analysis Sunday. "For MGM, the transaction would expand a northeast presence that has grown significantly over the past year, while MGP potentially benefits from a new rent stream. LVS sheds an asset which has already produced a significant [return on invested capital] and strengthens the capital return potential story."
The deal will put arguably the state's most successful casino in the hands of one of the nation's fastest growing casino operators, giving Las Vegas-based MGM another East Coast territory to add to its recent acquisitions in New Jersey, Maryland and Massachusetts.
- Aaron Goldstein, Gambling911.com
