Las Vegas Sands has announced its intention to pursue the development of a multi-billion dollar casino-hotel destination license in Long Island, New York. This comes after the New York State Gaming Commission’s recent release of three downtown NY gaming licenses.
The company has entered into agreements to purchase the long-term lease of the site, which the Nassau Veterans Memorial Coliseum currently occupies. These transactions are still subject to regulatory approval. Once they go through, they will grant Sands control of up to 80 acres of land in Nassau County.
Sands CEO and Chairman Robert Goldstein commented: “Our company's track record of driving significant economic benefits to the communities in which we operate and fostering meaningful partnerships has given us a unique perspective on what it takes to develop transformative tourism destinations that positively impact the local community.
“Based on that experience, we strongly believe Long Island can be home to one of the region's great entertainment and hospitality developments.”
The integrated resort of a Sands Long Island development would include outdoor community spaces, four and five-star hotel rooms and a live performance venue, to honor the historied legacy of live music at the Nassau Coliseum.
The planned casino gaming space would represent less than 10% of the project's total square footage. Other amenities would include a luxurious day spa, swimming pool, health club, celebrity chef restaurants, convention spaces and ballrooms.
Sands plans to team up with RXR Realty, a real estate company, for this endeavor. Both companies pledge that this project would maximize economic opportunity in the area and help build stronger communities.
RXR Realty CEO and Chairman Scott Rechler commented: “After nearly two decades of working to transform the Nassau Coliseum site, the message has been overwhelmingly clear that Long Islanders want a globally renowned entertainment destination that creates well-paying jobs and new opportunities at the Nassau Hub.”
