Sands NY Casino Lease Gets Approval From Nassau County, But Hurdles Remain

A lawmaker labeled it as a decision that required little thought, and the voting on Monday clearly mirrored that sentiment.

Las Vegas Sands has been granted a land lease agreement by a vote of 17-1 from the Nassau County Legislature.

“I am delighted with the vote,” stated County Executive Bruce Blakeman, as he acknowledged the successful leap over the initial obstacle towards establishing an outstanding entertainment center complete with a lavish spa and hotel. This achievement promises to generate numerous employment opportunities and foster economic prosperity for Nassau County.

Sands would be granted the land currently occupied by Nassau Coliseum as they plan to develop a $4 billion New York casino, resort, and entertainment facility.

Big lease approved by Nassau County Legislature

In the previous month, a 99-year agreement was reached between Nassau County officials and Sands. Under the terms of the deal, Sands would provide a payment of $54 million, regardless of whether or not the company obtains a license for any of the three downstate NY casinos.

The focal point of the agreement primarily revolves around investments at the local level. As an illustration, Sands will make an annual payment of $5 million for leasing the county land. In the event that Sands obtains a casino license, the rent will escalate to $10 million. Additionally, upon the casino’s inauguration, Sands will be required to pay an additional $25 million for the initial three years. Subsequently, the payments will increase to $50 million after the initial three-year period.

Sands would provide a revenue payment of $1.8 million to the county police department, with additional surrounding areas also receiving financial benefits.

Blakeman states that the introduction of a Sands NY casino would result in over $100 million in yearly revenue for Nassau County municipalities and schools.

Still plenty of hurdles left for Sands NY casino

Blakeman’s statement suggests that there are additional hurdles preventing the establishment of a possible Sands casino.

In the given scenario, the initial step involves the Community Advisory Committee (CAC) assessing the application and evaluating the level of local support for the proposed project. In the event that sufficient support is found, the CAC has the authority to propose the project for licensing. Subsequently, the Gaming Facility Location Board will conduct a review and potentially suggest Sands for approval.

Afterward, the New York State Gaming Commission will review all the particulars once more and reach a conclusive decision. During a recent meeting, Brian O’Dwyer, the chair of NYSGC, emphasized that any suggested proposal would not be blindly approved by the commission. He emphasized the commission’s commitment to ensuring that the casinos continue to operate with the utmost integrity, and they will exercise great caution in doing so.

Additionally, Hofstra University has taken legal action by filing a civil complaint, asserting that the Nassau County Planning Commission violated the state’s Open Meeting Law during their approval of the 99-year lease.

The complaint alleges that a series of mishandled supposed public meetings led to the planning commission denying Hofstra and the public the chance to discuss significant matters that could have severe negative effects on our community.

First appearances will be heard by a Superior Court judge on Wednesday.

Sands still optimistic for potential NY casino

Despite the obstacles that still exist, Sands has not been deterred from its optimistic view of a casino resort in the area.

In a statement, Sands CEO Robert Goldstein expressed that the approval given today by the Nassau County legislature is a crucial milestone for our company. This signifies our dedication to obtain a gaming license in New York and ultimately establish an exceptional destination for hospitality, entertainment, and gaming on a global scale.

He then added:

We are proud to have organized more than 300 community meetings and have successfully built a strong coalition with our new neighbors throughout Long Island.