Sands pulls plug on $5B Nassau Coliseum casino plan 

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After spending hundreds of millions in an effort to build a $5 billion casino resort in Uniondale, Las Vegas Sands will no longer pursue the project. 

The company, which operates casino resorts in Singapore and Macau, announced its decision during a call with investors on Wednesday. It cited increased competition from online gambling as a reason to no longer seek a casino license from the state, according to a company statement.

“We are in the process of attempting to secure an agreement with a third party to whom we can transact the opportunity to bid for a casino license on the Nassau Coliseum site,” the statement read.  “This would include those that may be able to address both land-based and digital markets in New York.” 

The Sands bid to secure one of the three downstate casino licenses was considered to be a longshot by observers for a few reasons, not the least of which was the frosty relationship between Gov. Kathy Hochul and Nassau County Executive Bruce Blakeman, but also the stiff competition from other casino license contenders. 

Resorts World NYC, which is proposing a $5 billion expanded casino at the Aqueduct Raceway site in South Ozone Park, and MGM Empire City in Yonkers, which has also pitched a major expansion of its existing gaming operation, were considered to be two of the frontrunners for the state’s three downstate licenses. 

But those are just two of the 10 development proposals seeking the three licenses. Among the other casino proposals are Metropolitan Park, from New York Mets owner Steve Cohen and Hard Rock Entertainment, that would be built near CitiField in Flushing; The Coney, a casino and hotel project near the Coney Island boardwalk from Thor Equities and the Chickasaw Nation; The Avenir, a high-rise complex on Manhattan’s West Side from developer Larry Silverstein that would include 400,000 square feet of gaming space and 1,000 hotel rooms; Wynn New York City, a partnership of the Related Companies and Wynn, creating a casino at Hudson Yards in Manhattan; and several more.   

Las Vegas Sands had promised that even if it was not awarded one of the gaming licenses, it would still develop an entertainment and hotel complex at the Nassau Coliseum site. But the company didn’t commit to a specific type of development in its statement Wednesday. 

“If the company is unable to secure an agreement that would allow for a third party to bid for a casino license on the Nassau Coliseum site, it will work with Nassau County and other parties to attempt to ensure it is developed consistent with Nassau County’s long-term vision for the site,” the Sands statement read.   

Las Vegas Sands has invested a fortune in preparation for its proposed development, including a $54 million payment to the county, $241 million to Nassau Live Center LLC the former leaseholder to the Coliseum property, and countless millions more in its lobbying effort to secure a casino license from the state. 

The awarding of the three downstate casino licenses will soon be coming down to the wire. The deadline for project proposals is June 27 and community advisory committees must advance proposals by Sept. 30. After that, the Gaming Facility Location Board will recommend up to three applicants for licenses, which the Gaming Commission has until year’s end to award.