Sands secures Long Island casino lease, awaits gaming licence

Garance Limouzy August 22, 2024

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Sands secures Long Island casino lease, awaits gaming licence

Las Vegas Sands’ plan to develop a $6 billion casino and resort complex (photo above) on Long Island has recently made progress, with the company securing a 42-year lease to manage the Nassau Coliseum. However, the company still faces an important challenge: obtaining a state gaming licence.?In Long Island, 11 contenders are competing for three licences, with the final decision potentially delayed until late 2025.

Nassau county’s vote

The decision to award the management of the Nassau Coliseum and its surrounding area to Las Vegas Sands was made by Nassau County. After debating the project, the county voted in favour of it, as a means of securing the jobs of those already employed on-site. Supporters of the project argue that the casino could bring substantial economic benefits to the region. Ryan Stanton, from the Long Island Federation of Labour, noted that the construction project alone could create numerous opportunities for nearly two years.

Casino licence uncertainty

Among the 11 contenders, Las Vegas Sands is considered one of the strongest candidates for a gaming licence. The company has proposed significant investments in the community and has secured a strategic location, with Nassau Coliseum being close to Manhattan.

Long Island attorney Joshua Liebman, a supporter of the Sands project, has publicly urged Governor Hochul to accelerate the bidding process for the three casino licences. He argues that any delay in the decision could have an important economic impact, resulting in a loss of revenue for both the state and local communities.

“If Rick’s casino in the movie ‘Casablanca’ had been waiting for Governor Hochul’s administration to issue it an operating licence, the amoral French Captain Renault would have died of old age long before being presented with his winnings,” wrote Liebman.

The lawyer, who claims to have no relationship with Sands nor any financial interest in their venture, concluded: “This governor and her casino siting board need to recognise what the business community has long known: delay is as much a decision as definitive action.”

Opposition to the project

Concerns about the casino’s potential impact have been voiced by opponents, including Hofstra University and nearby communities such as the Village of Garden City. They fear the project could lead to increased traffic, pollution, and crime.