There are just a few weeks to go before applications need to be in for a New York casino, but there’s no lead bidder in place to take the reins.
The deadline for New York casino license applications is June 27, with a proposed makeover in the works for the Nassau Coliseum site. However, where Las Vegas Sands was once a driving force pushing to take over the space, the company is now cooling on the proposal, leaving room for another bidder to enter the fray.
However, with time running out and Gambling News reporting that Las Vegas Sands’ lawyers saying at a recent zoning board meeting that, although talks are ongoing, a deal may not be ready in time for the deadline, the future of the lot is in question.
Although the casino company is effectively pulling out of the casino race, Las Vegas Sands is still hoping to rezone the 72-acre plot, with plans for a new development area that would include a hotel, entertainment zones, shops, and a casino, so long as another company steps in.
Plans for the New York casino remain uncertain
The reason for Las Vegas Sands to backtrack on its plans to license the casino themselves is said to be due to the rise of online betting, which could make running a profitable brick-and-mortar casino harder. The $7.6 billion plan to revamp the lot is far from a small investment.
However, local officials are still pushing for rezoning to happen, even without a confirmed plan for a casino, arguing that the hotel, entertainment, and retail attractions alone would create local jobs and boost economic growth on Long Island.
There are also critics who state that such a large space would lead to increased levels of crime, impact on traffic movement, and a change to the residential, suburban atmosphere in the immediate area. With no clear casino backer and a lack of public support, the Nassau Coliseum’s future is undoubtedly uncertain, with just a few weeks to go until casino license applications close.
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