Las Vegas Sands has signed a preliminary agreement for a 99-year lease to use the Nassau Veterans Memorial Coliseum, with a plan to develop an integrated casino resort on Long Island.
The Las Vegas company revealed information about the development, but did not offer new details about the project. Approval to obtain the site will be overseen by the 19-member Nassau County Legislature, with a decision expected by May 19.
This news comes a week after Las Vegas Sands reported its first-quarter 2023 results, with the company reporting net income of $2.12 billion. The 16,000-seat Nassau Coliseum was home to the NHL team, the New York Islanders, until 2021 and is also used for graduations, minor league baseball and lacrosse games.
The agreement still depends on the group bidding and the acquisition of one of the new state licenses. If successful, a variety of amenities will be included in the facility, with the casino taking up less than 10% of the space.
The project will also feature outdoor community spaces, four and five star hotel rooms, a performance venue, celebrity chef restaurants, events and experimental venues.
Group President and CEO Rob Goldstein, along with Nassau County Executive Bruce Blakeman, said this agreement is the first step for Las Vegas Sands to make a bid to apply for one of three gaming licenses in the state of New York.
About the Las Vegas Sands
The group is a world leader in the development and operation of integrated resorts. The goal is to create a positive impact by generating valuable business and leisure tourism, contributing economic benefits to the regions where Las Vegas Sands operates, making host communities great places to live, work and visit.