The battle for New York’s three downstate licenses will be a fierce one, but there are already frontrunners for it. Recently, Wells Fargo analyst Daniel Politzer said that Las Vegas Sands’ proposal to launch a multi-billion gaming project in Nassau County was one of the favourites for a license, as the company had the most expensive and aspirational pipeline.
At the start of 2023, the Gaming Facility Location Board kicked off the Request for Applications allowing third-party companies to submit their proposals for a casino in downstate New York. Each of the licenses is set to cost US$500 million and applicants must be willing to invest another US$500 million in the area. Winners should be announced sometime in 2023.
Most Compelling Bid
In a report to clients, Mr. Politzer said Las Vegas Sands is a frontrunner due to the scale of its project, track record, and ability to collaborate well with local communities. He noted that the company’s proposal was the most compelling one among dozens of others that in contention for the three licenses. Additionally, the operator already committed funds to the project.
At the start of the year, the company revealed details on its casino bid for Nassau County. Its gaming resort would be on land at Nassau Veterans Memorial Coliseum. For its site, the operator even entered into partnerships to purchase the long-term lease of the site. It explained that its project would come with world-class casino gaming, which will take up to 10% of the project’s total square footage.
Its multi-billion casino and entertainment project is set to feature outdoor community spaces, four and five-star hotel rooms, as well as a premium life entertainment venue. It will also boast celebrity chef restaurants, experiential events and venues, and meeting and convention space, a spa, a swimming pool, a health club, and more.
Meanwhile, at the end of May 2023, the company received a boost for its pursuit of a license in the area. Nassau County Legislature voted 17-1 in favour of granting the lease to the gambling leader. The legislature cited job creation and economic prosperity and more for Nassau County as reasons for greenlighting the move.
However, Locals Disagree
It should be mentioned that not all Nassau County residents are content with the proposed casino resort. In May, “Say No to the Casino Civic Association” organized a rally to protest against the site and change the local legislature’s mind. But it was in vain, as the county awarded the lease to the land. It was held in front of the Nassau Legislative Building.
Previously, “Say No to the Casino Civic Association” remarked that the casino project would change the character of Nassau County and the nearby neighbourhoods. It says it will lead to increased crime, traffic, and noise pollution, while also putting a strong on the local law enforcement and governments, said the organization which is not politically affiliated.
Source: Shriber, Todd “Sands Frontrunner in New York, New Vegas Casinos on Backburner Says Analyst” Casino.org, June 28, 2023