Las Vegas Sands opts out of Nassau Coliseum casino bid on Long Island
The developer who planned to turn Long Island's Nassau Coliseum site into a casino has pulled the plug on the project.
The Las Vegas Sands Corporation had proposed a $6 billion resort and casino as part of the development of the site in Uniondale, but company executives told investors Wednesday they will no longer seek the casino bid.
The company cited concerns over the popularity of online gambling and the current economic climate.
Las Vegas Sands says it's trying to reach out to a third party to take on the bid for a casino at the site.
In a statement, a representative for Nassau County Executive Bruce Blakeman said:
"County Executive Blakeman has been aware of certain pressures that have factored into Las Vegas Sands' rethinking of land-based brick and mortar casinos in the United States. The County Executive is grateful that Las Vegas Sands is committed to the development of the Coliseum site with or without a casino. However, there is strong interest from gaming organizations which have been in confidential discussions with Nassau County in taking the place of Las Vegas Sands in the licensing application process. Nassau County will crystallize within the next 30 days whether or not to entertain a casino component or develop the site without. In either event there will be an exciting new development that will create jobs and positive economic activity. "
Divisive casino plans on Long Island
The casino proposal has been a source of contention for Nassau County residents for years.
Some in the area opposed plans for a casino, arguing the benefits from revenue would not outweigh the negative impacts. Residents voiced concerns about traffic, noise and pollution, and officials at nearby Hofstra University worried about the effect on students.
Supporters, meanwhile, were counting on the casino to bring thousands of jobs to the area and millions of dollars in revenue to the county.
Three casino licenses are up for grabs in downstate New York. The state gaming commission is expected to decide who gets them before the end of the year.
Some of the other proposed casino sites include Coney Island, Hudson Yards, Citi Field and Times Square.
