Las Vegas Sands Doubles Down on Pa.

LAS VEGAS ( TheStreet) -- Las Vegas Sands ( LVS) isn't selling its casino in Pennsylvania, the company announced Monday, in response to rumors that Sands would be exiting the state.

In fact, the casino operator announced that it is looking to restart construction on a 300-room hotel tower in its Sands Casino Resort Bethlehem property within the next several weeks.

Last month, Sands announced that it could add table games to the casino as soon as this summer.

"With the addition of table games, Sands Bethlehem will become the most complete and convenient gaming destination for millions of New York City and northern New Jersey residents and, at the same time, enhance the profitability of the property starting in the foreseeable future," CEO Sheldon G. Adelson said in a statement.

Last week, rumors had surfaced that Sands was looking for a buyer of the property just nine months after it opened. In the fourth-quarter, Sands Bethlehem realized a loss of $2.1 million on revenue of $57.5 million.

-- Reported by Jeanine Poggi in New York.

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