Las Vegas Sands: NY setbacks, Thailand opportunities
Discussions over Las Vegas Sands' strategic decisions in the face of regulatory obstacles and new opportunities continue to arise in the gambling community worldwide.CEO...
Nassau County and Las Vegas Sands join for casino license
Bruce Blakeman, the county executive of Nassau, recently declared that his administration is now seeking to change the terms of the county’s lease with Las Vegas Sands.
This legislation is important because it could make it easier for Las Vegas Sands to obtain one of New York’s three downstate casino licenses.
This announcement follows recent events in which Nassau County opted to amend the previously agreed-upon lease with Sands over the rights to Nassau Coliseum in Uniondale, New York, in cooperation with the County Planning Commission and the legislature. Sands intends to build a six-billion-dollar casino hotel here, according to the proposed location.
Sands paid $241 million for the original leasing rights to Nassau Hub. But in a setback that occurred in November of last year, Justice Sarika Kapoor of the New York State Supreme Court declared the agreement void due to infractions of the state’s open meetings and environmental assessment statutes. Hofstra University, a vociferous opponent of a gaming venue close to its campus, launched this legal action.
Despite these obstacles, the casino hotel project appears to have broad bipartisan support in Nassau County. The plan received strong political support when Nassau County legislators voted 17-1 in favor of giving Sands a 99-year lease to develop county–owned land at the Nassau Hub site last May.
Although Sands‘ attempts to obtain a casino license have been delayed by legal actions and regulatory obstacles, the state’s complicated bidding procedure may perhaps be to their advantage. The extended period of time gives Sands and Nassau County the chance to properly draft a new lease that complies with legal standards and can withstand any objections down the road.
Leaders in Nassau County and Sands have been firm in their commitment to bringing the casino hotel project to completion despite these legal and regulatory obstacles. In addition to expressing gratitude for the continued support for their project, Sands reaffirmed their dedication to working cooperatively with Nassau County organizations and citizens and acting as a good neighbor.
Blakeman underlined Nassau County’s unwavering commitment to collaborating closely with Sands to guarantee the integrated resort project’s success. This shows how Sands and Nassau County are working together to achieve their goal while navigating the difficult legal and regulatory environment.
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