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October 1, 2014

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Las Vegas Sands says it’s not selling its Pennsylvania property

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Rick Smith / AP

In this file photo from Friday, May 22, 2009, patrons pass under the entrance marquis to the Sands Casino Bethlehem when it opened its doors to the public for the first time, in Bethlehem, Pa.

Updated Friday, May 2, 2014 | 5:35 p.m.

Las Vegas Sands Corp. has put to rest rumors it was putting its Bethlehem, Pa., casino on the market.

In a news release issued, Las Vegas Sands said it had no intention of selling Sands Bethlehem and named Mark Juliano as the property’s new president.

"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. Bringing pride back to a 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," the news release quoted Sheldon Adelson, chairman and chief executive officer of Las Vegas Sands, as saying.

Juliano comes to Bethlehem from Marina Bay Sands, the company's resort in Singapore, where he served as senior vice president and chief casino officer.

Speculation about a possible sale had been fueled by The Morning Call newspaper in Allentown, Pa., which had reported about talks between Las Vegas Sands and Tropicana Entertainment about the possible sale of the Bethlehem casino.

“Today, that speculation stops, and a new chapter in the history of Sands Bethlehem begins," said Michael Leven, Las Vegas Sands president and chief operating officer.

Leven said Juliano's knowledge of the East Coast and previous operating experience in the region would make for a smooth transition.

Juliano has 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.

His appointment is subject to licensing by the Pennsylvania Gaming Control Board.

First-quarter net revenues for the Bethlehem casino fell about 5 percent year-over-year to $117 million.

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