Nassau County Executive Blakeman Announces Proposals for a New Sands Lease
Nassau County Executive Bruce Blakeman stated this week that his office is currently working on revising the lease agreement between the county and Las Vegas Sands, in an attempt to facilitate the gaming company's efforts to secure one of the three downstate casino licenses in New York.
This announcement comes approximately a week after it was made public that the county would be collaborating with the County Planning Commission and the legislature to modify the previous agreement with Sands, involving rights to the Nassau Coliseum in Uniondale, NY. Here, Sands is looking to construct a $6 billion casino hotel.
Sands had paid $241 million for the lease rights to Nassau Hub, however, last November, New York State Supreme Court Justice Sarika Kapoor overturned the contract on the grounds that it disregarded the state's environmental review and open meetings laws.
The case was brought forth by Hofstra University, a nearby institution that has voiced opposition to a gaming venue in Nassau County.
Potential Benefits from Delays
In May last year, Nassau County legislators unanimously approved a 99-year lease for Sands to develop land on the Nassau Hub site - evidence of widespread bipartisan backing for the Long Island casino hotel proposal.
Upon Kapoor's decision and its subsequent affirmation, concerns arose that Sands' bid for one of the three New York City-area casino permits might be throttled due to the reputation of the state's high courts for being sluggish in reviewing environmental cases.
With the sluggish bidding process potentially providing relief, Sands and Nassau County, along with other competitors dealing with land and other issues, may now have extra time to finalize their lease agreement.
The initially anticipated clarity on the bidding process, with possible decisions by the end of 2024, might now potentially reach into late 2025 or beyond. While gaming companies, boroughs, and counties eager for a new source of income undoubtedly dislike this prospect, it grants Nassau County and Sands additional time to create a lease agreement that passes legal muster.
Sands, Nassau County in Harmony
Despite the legal wranglings initiated by Hofstra and regulatory ambiguity in New York, Nassau County officials and Sands have remained dedicated to bringing the casino hotel idea to fruition.
"We are grateful for the remarkable and eclectic backing our proposal receives and eagerly anticipate participating in productive discussions with all parties involved in moving this transformative development forward," Sands noted in a statement on Thursday. "We maintain our commitment to be a collaborative partner and responsible neighbor to the organizations and residents of Nassau County."
Blakeman further declared that the county is "wholly dedicated" to working with Sands to drive the integrated resort concept to completion.
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Source: www.casino.org
