The location of the Bethlehem Steel Company was vacant since they declared bankruptcy in 2001. The Sands Casino Resort in Bethlehem has re-opened over again there.
The blast furnaces, which have been closed for 9 years now, have all been replaced with 4 restaurants and nearly 3000 slot machines. Time and tide will decide on whether Mr. Emeril Lagasse’s fortune will bring back hope to the place blooming again as a busy corner. However, the place which was once making steel which decorated various types of construction inclusive of homes, corporate buildings, hospitals and bridges will be now dealing with casino players.
The once busy place where a number of families depended on the wages and salaries of the steel company over 146 years will from now on be housing gamblers who will be trying their luck on jackpots and winning from slots. The location is set to be busy again, but not with factory workers and managers, but with casino dealers, casino managers and players.
The Sands have definitely rejuvenated the city over again, though with a different product line. It is a betterment and new hope to the city and also to the Sands whose shares have been as low as $9 on Friday. The probable reasons for the decline in the price of shares are debt overload and decline in gambler number.
The big project of Sands seems to be a hope when compared to all the hurdles to several of their projects like the condominium tower in Las Vegas and a hotel casino in Macao. There are hurdles to the Bethlehem project also. The 300-room hotel and mall in Bethlehem is also put on hold.
The Sands has been projected to be the largest casino in Pennsylvania and they are expected to home more than $4.5 million players per year. A whooping $9 million is expected from the project to contribute to the general revenue for the city.
