Las Vegas Sands informed a few weeks ago of the state's Southern Casino bid in New York, but the offer is reportedly likely to preserve some of its existing facilities. The company's bid will be to host a full-scale commercial casino at the Naso Coliseum Stadium on Uniondale's Long Island. And the project will keep the Coliseum within the proposed entertainment area.
In early 2023, the state's Gaming Facility Location Board officially launched an applicant request process, allowing candidates to submit bids for a full-scale commercial casino in New York. Approved applicants must not only pay a license fee of US$500 million, but also be willing to invest almost the same amount in the area.
In January 2023, Las Vegas Sands announced plans to host a multi-billion dollar flagship hospitality, entertainment and casino project at the Naso Coliseum on Long Island. The company and its current facility owner, Naso Live Center LLC, may value the Colosseum as a potential concert venue and are not willing to demolish it at the time.
The Las Vegas company also reported that it has already signed a long-term lease for the area, home to the Naso Veterans Memorial Coliseum. The company believes the deal, which still needs approval, will give the company control of up to 80 acres across the region and could become a central entertainment and hospitality venue on Long Island.
RXR Realty is also included in the bidding, and the corporation will work with the community to co-write development plans and conduct bids to help the new comprehensive entertainment resort provide maximum economic opportunities. We are also committed to building stronger communities within the region and protecting the quality of life for all local residents.
Scott Rechler, CEO of RXR Realty, commented that Long Islanders demand a world-famous entertainment destination in Nassau Hub that creates well-paid jobs and new opportunities. But he noted that it is difficult to turn the idea into a reality because of the commercial viability of the site that puts a strain on the nearly half-century stadium.
However, in order to realize this plan, Las Vegas Sands needs to get approval for one of the three licenses, but the competition is pretty intense. Thor Equity is also one of the stakeholders, as the company previously shared that it hoped to bring casino properties to Coney Island. A potential problem for the company is getting community support for projects that are currently lacking.
The Solovf Group also has a casino in New York. The company's plan is to establish a casino in Manhattan next to the U.N. building. Earlier this month, it also reported that it had selected land-based operator Mohigan Gaming as a casino partner for the project. Both sides share similar values, making it suitable for bidding.
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