Las Vegas Sands, a casino and resort conglomerate in Las Vegas, has begun working on expansion plans. The company submitted a bid to gain the right to build a new tourist destination on the site of the Nassau Colosseum in downtown New York.
Plans to build the new property include private funds, and the destination is expected to be worth about $4 billion. Once the state approves the offer and permission, the property will include gambling casinos, open-air community spaces, four-star and five-star hotel rooms, and, as Sands official noted: "a global live venue honoring the long legacy of live music at the Naso Coliseum."
Las Vegas Sands recently became the new tenant of a property previously owned by the county.
Waiting for main approval:
However, company officials said the project will continue even if it is not approved by the state.
Robert G. Goldstein, the company's chairman and chief executive officer, said. "Today's announcement is just the first part of this journey. Our ability to present compelling and competitive proposals will only succeed if we work with the Long Island community and develop proposals that reflect the opinions of all involved."
If Nasau County Council approves the proposal, the company will be in charge of 72-acre properties in Coliseum and Uniondale. It is the largest undeveloped land in the entire county.
The 19-member Congress must approve all planned changes in the case of coliseum leases, with Republicans winning a 12-7 majority.
"Sands Corporation has indicated that it will make a proposal to deploy entertainment centers and luxury hotels with gambling casinos that will account for less than 10% of the total project," said Bruce Blakeman, Nassau County Administrator
Blake is known as a Republican, so his words are expected. He added that any concrete plans would be premature at the moment. But he will remain open-minded, and if the community supports the plan for the project, he will be willing to negotiate the specific terms of the lease.
Sands officials did not want to comment on the details of the lease and the funding structure of the plan.
New York awards the following certificates:
Just a week ago, New York State decided to open an application process for all casino operators seeking to build gambling facilities in the Downstate area. Full-fledged Las Vegas-style casino applications in the region attract a lot of attention, and many operators will be applying for one of the three licenses awarded by the State Game Facilities Location Committee. Licenses will be given to facilities that offer slot games and other electronic game services, as well as traditional games such as poker and blackjack.
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