Las Vegas Sands no longer pursuing development of casino at Nassau Coliseum
UNIONDALE, Long Island (WABC) -- Plans for a potential casino in Nassau County took a hit on Wednesday after Las Vegas Sands announced it is no longer pursuing a New York gaming license.
The Las Vegas Sands was set to take control of the Nassau Coliseum in Uniondale, Long Island after lawmakers voted to approve a 42-year lease agreement last year.
In a statement, Las Vegas Sands said that while they "strongly believe in the development opportunity of a land-based downstate casino license in New York," and continue to believe that the Nassau Coliseum site offers the best location for that development, they are concerned about the impact of the potential legalization of iGaming on the market and projected returns.
"We are in the process of attempting to secure an agreement with a third party to whom we can transact the opportunity to bid for a casino license on the Nassau Coliseum site," Las Vegas Sands said in a statement. "This would include those that may be able to address both land-based and digital markets in New York."
The company says they have decided not to bid for a casino license in New York, and instead says they believe the best use of their capital in the near term is to purchase Las Vegas Sands and Sands China shares.
Nassau County says it will decide in the next 30 days whether to continue pursuing a casino at Nassau Coliseum, or whether to redevelop the site without one.
"Nassau County will crystallize within the next 30 days whether or not to entertain a casino component or develop the site without. In either event there will be an exciting new development that will create jobs and positive economic activity," said Chris Boyle, Director of Communications for Nassau County Executive Bruce Blakeman, in a statement following Las Vegas Sands' announcement.
Blakeman says that if the county can find a new operator, they would fill the shoes of Sands, "so nothing's been slowed down."
Nassau Legislator Seth Koslow, who voted for the lease, but is a political opponent of Blakeman, is now sending the county executive a cease and desist letter, accusing him of a lack of transparency regarding taxpayer money.
Blakeman insists, if anything, the county continues to make money off the site from the Sands.
"They've paid us $54 million plus already, so it's been a financial boon to the county," Blakeman said.
From Hofstra University to neighboring communities like Garden City, there's been no shortage of opponents who say they won't give up until the casino plan is dead.
"We believe from the beginning that there was a short cut process that was engaged in here, and that the casino did not do the proper work environmentally," Garden City Mayor Edward Finneran said.
"This is the worst place that you could possibly locate a casino, and at the end of the day there was just no real public support for this project," said Monica Kelly of the Say No to the Casino Association.
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