Las Vegas Sands has recently received approval for a lease agreement for its proposed New York casino development on Long Island, as the race to earn one of three casino licenses in downstate New York intensifies. The site of the proposed development is the Nassau Coliseum, the former home of the New York Islanders, and Nassau County lawmakers approved the lease agreement with an 18-1 vote, despite opposition from locals.
The decision to approve the lease agreement has been met with criticism from groups such as the “Say No to the Casino Civic Association,” who have labeled it as “shameful” and questioned the influence of “predatory casino companies” in politics. They believe that a casino in the area will lead to an increase in traffic and crime, and have expressed concerns about the power of money in politics.
Last year, nearby Hofstra University successfully blocked Sands’ initial lease due to improper public notification about a meeting. However, Sands won its appeal and restarted the lease process. As part of the agreement, Nassau County will receive $54 million from Las Vegas Sands, while another $241 million will go to Nassau Live Center LLC, the current lease holder.
Although Las Vegas Sands still needs to obtain a gaming license to proceed with the project, they have stated that they will develop a non-gaming resort if they do not receive approval for the casino. This development marks a significant step forward for the proposed casino project on Long Island.