Enter multiple symbols separated by commas

Las Vegas Sands Wins Pennsylvania Approval; Other Casino Shares Fall

Las Vegas Sands, the world's largest casino company by market value, said on Wednesday it was awarded a license to build a hotel-casino complex in Bethlehem, Pennsylvania.

The Pennsylvania Gaming Control Board granted it a so-called Category 2 license, which allows it to install slots machines, the company said in a statement.

Las Vegas Sands plans to build a shopping, dining, and entertainment complex along with space for 3,000 slot machines at the site of the former Bethlehem Steel plant.

Meanwhile, shares of casino operators Isle of Capri Casinos, Pinnacle Entertainment and Trump Entertainment Resorts slumped after Pennsylvania passed over the companies for stand-alone slot licenses.


The Pennsylvania Gaming Control Board sorted through 13 applications for the five available licenses. An additional six licenses are set for the state's horse-racing tracks.

Two racetracks _ Mohegan Sun at Pocono Downs and Philadelphia Park _ have opened slots parlors under conditional licenses, while racetracks in Chester and near Erie are expected to open slots parlors in the next two months.

Contact U.S. News


    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

  • Mark Cuban and Donald Trump

    Donald Trump appears to have Mark Cuban's vote, at least in terms of how the billionaire real estate mogul is conducting his political campaign.

  • Ferrari 488 Spider

    Ferrari's new 488 Spider will have a V-8 turbo engine and a retractable hard-top roof that lowers in just 14 seconds.

  • Members of the New Horizons science team react to seeing the spacecraft's last and sharpest image of Pluto before closest approach later in the day at the Johns Hopkins University Applied Physics Laboratory (APL) in Laurel, Maryland July 14, 2015.More than nine years after its launch, a U.S. spacecraft sailed past Pluto on Tuesday, capping a 3 billion mile (4.88 billion km) journey to the solar system's farthest reaches, NASA said.

    The New Horizons Pluto flyby mission set records for NASA's social media and web metrics——but why do we care so much?

U.S. Video