Las Vegas Sands has announced plans to build a new, multi-billion-dollar flagship land-based casino resort facility in the Long Island area of New York.
The operator has agreed to purchase the long-term lease of the site currently home to the Nassau Veterans Memorial Coliseum. While the deal remains subject to certain approvals, the transaction would grant Sands control of up to 80 acres.
Initial plans for the development state casino gaming would represent less than 10% of the total square footage of the location. The wider development would also include hospitality and entertainment facilities such as a hotel, live performance venue, outdoor community spaces, health club, spa, celebrity chef restaurants and convention space.
Sands said it will work with real estate owner RXR Realty and local communities to co-create a plan and bid that ensures the resort maximizes economic opportunity, helps build stronger communities and protects the quality of life for residents.
The operator will also re-activate working groups previously established by RXR to identify the goals and opportunities for local residents, with Sands saying the project would provide thousands of union jobs in both construction and operations.
In addition, Sands said it would partner with existing community and cultural projects, local organizations, celebrities and sports teams to support the project, as well as ensure that the resort honors the location as a veteran memorial.
“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 chairman and chief executive Robert Goldstein said.
“Based on that experience, we strongly believe Long Island can be home to one of the region’s great entertainment and hospitality developments. Our ability to put forward a compelling and competitive proposal will only succeed if we engage with the Long Island community and, in collaboration, develop a proposal that reflects the input of all those involved.
“Our proposed project would be designed to produce tens of millions of dollars in tax revenue for the local community on an annual basis, potentially offering property tax relief for residents. The project would also provide a lift for local businesses through a robust procurement program and support a broad range of community organizations and causes.”
Sands senior vice president and former New York Governor David Paterson added: “We are committed to bringing opportunities for small businesses to thrive, career paths in multiple disciplines for our local residents, innovative approaches for minority and women-owned businesses, thousands of union jobs, and an understanding of our obligation to partner and communicate our vision for the future.”
Sands is the latest major casino operator to announce plans to open a new land-based site in New York in recent months. In October, Caesars Entertainment said it would aim to build a new casino in Times Square, in partnership with SL Green Realty.
Other casino operators that have expressed interest include Wynn Resorts and Universal Entertainment.