The casino and resort giant from Las Vegas, Las Vegas Sands, has begun working on its expansion plans. The company has submitted a bid to gain the rights to build a new tourism destination on the site of the Nassau Coliseum in downstate New York.
The plans for building a new property include private funding, and the destination is expected to be worth about 4 billion dollars. If the state approves the proposal and license, the property will include the gambling casino, along with the outdoor community spaces, four and five-star hotel rooms, and, as the Sands official stated: “a world-class live performance venue honoring the long legacy of live music at the Nassau Coliseum.”
Las Vegas Sands recently became the new tenant on the property that previously had been owned by the county.
Waiting for the state’s approval:
However, the company officials said that the project would go forward even in the absence of the state’s approval.
Robert G. Goldstein, the company’s chairman and chief executive officer, said: “Our announcement today is only the first part of this journey. Our ability to put forward a compelling and competitive proposal will only succeed if we engage with the Long Island community and, in collaboration, develop a proposal that reflects the input of all those involved.”
If the Nassau County Legislature approves this proposal, the company will be in charge of the Coliseum and, additionally, 72-acre property in Uniondale. This is the largest tract of land that hasn’t been developed yet in the whole county.
The 19-member legislature needs to approve any change that is planned in the case of the Coliseum lease, and Republicans there have a majority of 12-7.
Bruce Blakeman, Nassau County Executive, said: “The Sands Corporation has indicated that they will be making a proposal to site an entertainment center and luxury hotel with a gambling casino that will occupy less than 10% of the total project.”
Since Blake is known as the Republican, his words are expected. He added that any concrete plans would be premature at the moment – but he’d keep an open mind, and if the community supports the plans for the project, he would be willing to negotiate concrete terms of the lease.
Sands officials didn’t want to comment on the details of the lease transfer agreements, as well as the funding structure of the plan.
New York awards the licenses:
Just a week earlier, the New York State decided to open the application process for all casino operators that want to build gambling facilities in the downstate region. The applications for full-scale, Vegas-style casinos in the area draw a lot of attention, and many operators will apply for one of three licenses that the state’s Gaming Facility Location Board awards. The licenses will be given to the facilities whose offer includes traditional games such as poker and blackjack but also slot games and other electronic gaming services.
Source: Read Full Article