There’s a new entry in New York’s high-stakes competition for one of three downstate casino licenses.
Las Vegas Sands is looking to set up a multibillion-dollar casino at the Nassau Veterans Memorial Coliseum site on Long Island.
The gaming juggernaut is the latest entry into the fray, joining about half a dozen other firms since Albany said it would grant three Vegas-style downstate casino licenses. Applications alone cost $1 million, with licenses expected to cost $500 million.
“Our company’s track record of driving significant economic benefits to the communities in which we operate and the meaningful relationships and partnerships we have created in each of those communities gives us a unique perspective on what it takes to develop transformative tourism destinations that positively impact the local community,” Sands Las Vegas CEO Robert Goldstein said in a statement earlier this month.
Sands, which has properties across the globe, faces some stiff competition.
Related Companies, which developed Hudson Yards, is partnering with Wynn Resorts to propose a convention and entertainment district in the area.
SL Green Reality Corp. and Caesars Entertainment want to transform a space in Times Square, the Soloviev Group has a project in the works near the United Nations and Hudson’s Bay Co. wants to convert the upper floors of its flagship Saks Fifth Avenue into a casino.
Meanwhile, Mets owner Steve Cohen wants to build a casino paradise and Thor Equities — in concert with Saratoga Casino Holdings, the Chicasaw Nation and Legends — is looking to plant roots in Coney Island, Brooklyn.
Sands wants to build a “multibillion-dollar flagship hospitality, entertainment and casino project” on 80 acres in Nassau County.
It promised “outdoor community spaces,” along with “four and five-star hotel rooms and a world-class live performance venue honoring the long legacy of live music at the Nassau Coliseum.”
”Racinos” including Resorts World Casino in Queens and the Empire City Casino in Westchester County are expected to apply for a full casino license, too.
The new rules allow for poker, blackjack, slot machines and video gaming terminals.
The bidding process took off earlier this month after state officials voted to seek applications. Sands’ reportedly plans to invest about $4 billion total.
The state Gaming Facility Location Board will assess factors such as economic impacts, job creation and anticipated revenue. It will also favor companies that commit to working with minority and women-owned contractors.
The Sands project, announced Jan. 12, would comprise a flagship hospitality, entertainment and casino project, the company said.
It would not be complete without a cadre of celebrity chef restaurants, meeting and convention space that includes ballrooms, and gaming, which would take up “less than 10% of the project’s total square footage,” Sands said in its description.
Sands would also include a spa, pool, health club and varied entertainment.
“We strongly believe Long Island can be home to one of the region’s great entertainment and hospitality developments,” Goldstein stated.