Nassau County to Redo Lease Approval in Bid to Help Las Vegas Sands

Nassau County renews lease approval to help Las Vegas Sands

Nassau County officials will restructure a previous lease agreement with Las Vegas Sands Corp. for the Nassau Coliseum in Uniondale, N.Y., to help the gaming company obtain one of three casino licenses in the state.

Last May, Nassau County legislators voted 17-1 to grant Sands a 99-year lease to develop county-owned land on the Nassau Hub site. It was later reported that the gaming company paid $241 million for the rights. In November, New York State Supreme Court Justice Sarika Kapoor invalidated the agreement, arguing that Hofstra University, which filed a lawsuit against the district, had certified that the district transferred the lease. Sander's approach was "an attempt to avoid public interest." Review".

The ruling was affirmed in February, with the court finding that the district violated New York’s environmental review and open meetings laws.

Despite delays and changing circumstances, we remain committed to working with Sands to bring a world-class hotel, entertainment center, casino and spa to Nassau County. " Nassau County Republican Bruce Blakeman said in a statement News 12.

Sands has not yet commented on the new lease.

Hofstra Rift causing problems for Sands-Nassau County

LVS wants to build a $6 billion casino-hotel in the center of the arena, a site that has been underutilized since the New York Islanders moved to Brooklyn after the 2014-15 season.

Hofstra has been an outspoken critic of Long Island's casino plans, and some legal experts view the university's legal moves as a potential stumbling block to what is widely considered one of the most viable casino projects in the Southland.

Earlier this year, the county entered into discussions amid speculation that Hofstra officials were in contact with a lobbyist with ties to New York Mets owner Steve Cohen and Hard Rock International, a bidder for a Queens casino license. The rift between Hofstra deepened. This led Blackman to accuse the college of complicity.

Hofstra's position is that it is not opposed to an integrated resort in the New York City area, but it does not want one near campus.

What’s next for Nassau County, sand not yet cleared

The next steps Nassau County and Sands will take are unclear at this time, with neither party commenting on whether the revised lease will have a financial impact.

One possible outcome is that by amending the lease transfer agreement, Nassau County could overturn the Hofstra case, thereby removing the unresolved issue in Sands' bid for a New York gaming license.

During a first-quarter earnings call earlier this month, Chief Financial Officer Patrick Dumont said New York's bidding process lacked clarity and was "confusing and disappointing."