Sands Bethlehem sets table revenue record as private equity group kicks casino’s tires

A New York-based private equity group says it’s preparing to make an offer to buy the Sands Bethlehem casino in Pennsylvania.

On Friday, Allentown-based independent television channel WFMZ-TV reported that New York City private investment group Keating & Associates was preparing an offer for Sands Bethlehem, the Las Vegas Sands property that is the state’s perennial top table game earner and its number-two slots performer.

Keating’s chief strategist Alex Fredericks told the station that “we suspect in the next 30 days we’ll tender a very serious offer.” Fredericks said the portfolio of his “relatively new” group did not currently contain any casino properties.

Regardless, Keating appears smitten with the US casino industry, and Fredericks claimed that Keating was trying to establish an east coast casino beachhead before expanding to Las Vegas and Miami (where casinos currently aren’t legal, but what the hey-hey).