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Posted At : October 23, 2008 10:14 AM | Posted By : D McKee
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Sheldon Adelson,Pennsylvania

Sheldon Adelson's ailing fortunes are now evidently taking their toll on $800 million Sands Bethelehem. Not surprisingly, work on the main profit center -- the casino -- continues apace, but there are reports of a slowdown on the hotel and shopping-mall aspects of the complex. "The uncertainty surrounding the project stands in stark contrast to the swagger [Las Vegas Sands] officials carried into state gaming hearings two years ago, when they promised a luxury shopping complex," declares The Morning Call.
Sands remains confident it will open the 3,000-slot casino in June and Bethlehem's mayor, for his part, believes the company is big enough to weather current economic storms. Still, Ralph Lauren has pulled out of the mall, as has Eddie Bauer. I've found no indication that severely troubled General Growth Properties is the retail developer this time 'round, so that's one thing going in Sands' favor.
(Thank you to reader "theyroff" for the heads-up.)
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