Sands may face lengthy legal battle over New York casino acquisition
Las Vegas Sands Corp. plans to build a $4 billion casino-hotel at the Nassau Veterans Memorial Coliseum in Uniondale, New York, and the company could face a lengthy legal battle.
Earlier this month, the Appellate Division of the New York State Supreme Court set aside a state Supreme Court ruling that invalidated the county's decision to transfer the stadium to a gaming company. This could lead to a lengthy legal battle. National and Hofstra University.
Hofstra, the plaintiff in the case, argued that Nassau County officials violated New York state’s open meetings law and circumvented environmental studies to expedite the transfer of the lease to Sands. Since the start of 2023, the casino operator has paid $241 million to former tenant Nassau Live Center LLC and $54 million to the county, as required by the lease agreement.
The lawsuit is set to resume on Tuesday, but it could still affect Sands' plans for New York. Yvonne Hennessey, chair of the New York Bar Association's environmental law section, told Newsday's Candace Ferrette that even basic environmental cases in the state take years to obtain progress.
Possible Outcomes of New York Sands Casino Plan
New York is the focus of Sands' domestic operations following the sale of the Venetian and related assets on the Las Vegas Strip in 2021 and the failure of Texas gaming expansion legislation earlier this year.
The possible outcomes are binary. If the court quickly rejects Hofstra's claims, the lease transfer will proceed, allowing Sands to continue bidding for one of three downstate casino licenses expected to be awarded by New York regulators.
If Hofstra wins, Sands may have to abandon its plans in Nassau County and look for another potential casino site in the New York City area, or abandon its plans in the area.
Earlier this year, the gaming company announced its intention to focus on Nassau County to address concerns that casinos could bring more traffic to already crowded Manhattan. Additionally, Long Island is only a short drive from JFK and LaGuardia Airports, making the Sands' location extremely attractive.
time is life
How quickly the appeals court hears the case could be a key factor in whether Sands can fully compete for a New York casino license.
So far, industry observers have generally accused the bidding process of being slow and potentially corrupt. New York regulators are expected to announce the three winning bidders in 2024, but that could be delayed until next year.
While Las Vegas Sands has long been considered a leading candidate for one of the licenses, a lengthy legal battle or a quick ruling against the gaming company could hamper its efforts to gain a foothold in New York.
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Source: www.casino.org
