- Las Vegas Sands has officially declared its bid for a New York casino license.
- Sands is looking to build an integrated resort at the Nassau Veterans Memorial Coliseum site.
- At least six other prominent bids plus two of New York’s existing slot parlors will vie for the three downstate casino licenses which will be issued this year.
Las Vegas Sands has officially joined the New York casino race.
Local media had reported earlier this week that the Sheldon Adelson-founded casino company was eyeing Nassau County or the UBS Arena/Belmont Park in Belmont as a potential casino site.
Those reports were confirmed on Thursday when Las Vegas Sands announced that it would bid for a multi-billion casino complex at the Nassau Veterans Memorial Coliseum site in Long Island, New York.
In a statement Las Vegas Sands president and chief executive officer Robert Goldstein said:
The announcement comes after the New York Gaming Facility Board unanimously voted earlier this month to release the RFAs ( Request for Application ) to solicit proposals for up to three commercial casinos in the state.
Integrated Resort in New Island
Las Vegas Sands has entered into agreements to purchase the long-term lease of the site which is currently home to the Nassau Veterans Memorial Coliseum. The deals, which still need certain approvals, would give Sands control of up to 80 acres of land in Nassau County, New York.
The planned integrated resort would include outdoor community spaces, four and five-star hotel rooms, and a world-class live entertainment venue that will honor the long legacy of live music at the Nassau Coliseum. The resort would also boast celebrity chef restaurants, experiential events, and venues plus flexible meeting and convention spaces.
Other amenities include a ballroom, a luxurious day spa, a swimming pool and health club, and a variety of entertainment programming. Of course, the centerpiece of the project would be the high-end casino which is planned to represent less than 10% of the project’s total square footage.
Las Vegas Sands will work with Long Island communities to co-create a development plan that will ensure that the integrated resort will maximize economic benefit, help build stronger communities, and protect the quality of life of Long Island residents.
Stiff Competition in NY Casino Race
But while Las Vegas Sands has an impressive plan, it faces stiff competition in the New York casino race, including a $3 billion plan to build a casino resort at Brooklyn’s Coney Island. That proposal is led by Thor Equities which has brought in the Chickasaw Nation, Saratoga Casino Holding, and Legends as partners in the project.
Then there is also a pair of proposals for Manhattan by two gaming giants. One is the proposed Caesars Palace Times Square project led by Caesars Entertainment and SL Green. The partners intend to build their casino at the 1515 Building in Times Square. Directly competing with Caesars is Wynn Resorts, which has joined forces with real estate giant Related Companies in a bid to build a casino at an undeveloped portion of Hudson Yards.
New York Mets team owner Steve Cohen is also pursuing a casino bid at Willets Point. Last weekend, Cohen held a meeting with local residents to discuss his plans and solicit suggestions. Billionaire Stefan Soloviev is also expected to join the bidding war with a casino bid on a six-acre site south of the United Nations. Meanwhile, Vornado’s Steve Roth is also plotting a gambling property in Herald Square.
Aside from these new players, Las Vegas Sands will also have to contend with the two existing slot parlors in the state – Empire City Casino in Yonkers and Resorts World in Queens as the two have expressed their desire to acquire a full-casino license. According to industry rumors, Empire City and Resorts World are the favorites to get two of the three available licenses, leaving Sands and the rest with one casino license to fight for.
