Casino News

Las Vegas Sands Still Confident on Downstate New York Bid

Despite the heavy competition, Las Vegas Sands remains quite optimistic about its chances of landing a commercial gaming license in downstate New York. In the company’s latest earnings call, Chairman and CEO of the company, Rob Goldstein stated that the gambling firm sees its casino bid for Nassau County, Long Island, as an extraordinary opportunity.

The Empire State has three available full-casino and commercial licenses for the downstate area and those companies interested in applying for one of the permits submitted their second round of questions to the state in early October 2023. After the responses are out, those interested parties will have 30 days to submit their official application for licensing.

Bid is Compelling, Claims CEO

In the company’s third-quarter earnings call, Mr. Goldstein claimed that the firm’s bid for a casino in Long Island was compelling, and if they got a license, they would waste no time. He also shared that the company has secured Nassau Coliseum and is in the process of acquiring the necessary selling requirements to move forward if it lands one of the licenses.

Earlier this year, the gambling leader inked a 99-year agreement with Nassau County and if it gets a license, it would develop a 396,726-square-foot casino resort, making it the largest in the country. On top of expressing optimism about the Long Island project, Mr. Goldstein also said that the company has gained the backing of residents from the area.

In his words, the firm’s bid has gained strong local support from the local community and added that the casino resort would cost over US$5 billion, but it will provide a five-star resort with unlimited appeal. He concluded by saying that the company is very excited about the prospect of launching a New York casino and that it would be an extraordinary opportunity.

Just recently, Las Vegas Sands also announced that has secured the leader in the destination wellness category, Canyon Ranch for its Empire State bid. Canyon Ranch owns and operates two resort locations, which are designed to focus on health and well-being. The plan is to launch a similar one in Nassau County if the gambling leader gets the go-ahead for a casino resort.

Project Attracts Opposition

However, despite the local backing, not everyone is in contention with the potential casino in Nassau County. Earlier this year, Trustees from Hofstra University sent an open letter about the proposed gaming project labelling it “entirely inappropriate.” But that is not all, a group of local communities created the Say No to the Casino Civic Association to oppose the gambling plans.

In the letter, Hofstra trustees said that the target location for the casino is surrounded by educational institutions from preschool through graduate school and a range of suburban communities. The letter said that these should not be exposed to the increased traffic congestion, crime, economic harm to businesses, and other negative impacts that a potential casino can bring.