Sands Casino Enacts Own Stimulus Package
Despite the Las Vegas Sands (LVS) stock closing at a sputtering $2.28 a share on Friday, the company has blazed ahead in the face of financial adversity with a stimulus package of it's own: job creation.
The Las Vegas Sands Corp. is building a 126-acre Sands Casino in Bethlehem, Pennsylvania. The site will hold a 300-room hotel, 200,000 square feet of retail space, 3,000 slot machines, a meeting and convention area, and a variety of dining, shopping and entertainment venues.
The tremendous project will employ approximately 1,200 construction tradespersons at peak construction. Not only will the construction infuse jobs that are badly needed in this area, but the company is also seeking to hire an additional 1000 employees to work in the casino. The casino doesn't open for at least another 4 to 6 months but applicants are already flocking to the job center to fill out applications in this dismal job market.
In addition to providing direct jobs, the presence of the casino will bring in many partner relationships which will also create more jobs, and secure existing ones. Sands has already teamed up with OSHA partners during the construction phase.
Las Vegas Sands is also scheduled to open its glitzy Marina Bay Sands casino in Singapore before the end of this year.
The Sands Pennsylvania casino location will be able to attract visitors from New York and surrounding cities, with a short drive of 1 to 1-1/2 hours. Meanwhile, back in the isolated desert of Las Vegas, casino revenues are down and there are only so many budget cuts operators can make before they have to close their doors.
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