Las Vegas Sands recently pulled out of the race to get one of three downstate New York casino licenses, citing concerns over potential cannibalization if iGaming becomes legal in the state. It planned to develop a resort on the site of the Nassau Coliseum in Long Island, with the company estimating the total cost to be around $4bn when it pitched the idea a couple of years ago.
rising costs including materials, labor, construction, traffic mitigation needs, financing
A new environmental impact statement relating to the proposal almost doubled the expected total price to $7.6bn due to a myriad of rising costs including materials, labor, construction, traffic mitigation needs, financing, and the application fee for one of the licenses. It also accounted for potential knock-on impacts from President Donald Trump’s tariff war.
Despite Las Vegas Sands pulling out of the process, local lawmakers are still proceeding to try to get land-use approval on the 72-acre site. Another party could jump in and take over the quest for an applicant to build a casino on Long Island. This would have to happen soon though, as the application deadline is June 27.
The project has come in for plenty of scrutiny among locals, including the adjacent Hofstra University, which filed several lawsuits regarding the lease agreement.
