Full Nassau County legislature approves 42-year lease for Las Vegas Sands
The legislature was not specifically considering LVS’ proposed casino plan when it voted. And the company still needs state approval to build a casino resort. But the vote is a necessary step toward getting additional approvals. LVS has been operating the Coliseum property since last November.
The county’s planning commission and legislative rules committee previously approved the lease. LVS is required under the lease to keep the Coliseum open for two years, but the company will have control of the property for 42 years.
The Coliseum is the former home of the NHL New York Islanders and is now home to the NBA G-League Long Island Nets.
Casino would take up less than 10% of land
LVS is among 11 bidders for three downstate casino licences in New York. The company plans to build a $4bn integrated resort on the 72-acre plot, should it get a licence. The development would include a casino, four- and five-star hotel rooms, outdoor space and a live performance venue. LVS has plans to continue the tradition of live music at the Coliseum site.
According to its proposal, the casino would cover less than 10% of the entire property. LVS has made efforts to meet with community leaders and members, but still faces local resistance. In particular, officials from Hofstra University have been lobbying against the LVS proposed casino. The Coliseum property is a mile from the university’s campus.
“The jobs of those employed at the Coliseum are not dependent on the lease,” Hoftra VP of marketing and communications Terry Coniglio said, according to the Long Island Press. “The operating lease at issue is not for the purpose of maintaining jobs. Rather, it is a precursor to and contemplates the development of a casino at the Nassau Hub. The 42-year term of the proposed lease would foreclose the possibility of any long term development of the Coliseum by anyone other than Las Vegas Sands.”
Unions support proposed project
Other community members spoke at the meeting, as well. Those from the Village of Garden City said they don’t want more “DWI fatalities” or addiction, pollution or traffic. But union leaders support the plan.
“The economic development in this county is the thing that will drive the county into the future. Look, we have to look at this objectively,” Matthew Aracich, president of the Building and Construction Trades council of Nassau and Suffolk counties, said at the meeting. “If we didn’t go ahead and move that lease forward, these people would be out of a job. And it’s not just a job, it’s a career – a career they spent many years in. What do we do to replace them? Just a swipe and it’s gone. That’s an unconscionable action.”
New York’s Gaming Commission is aiming to award licences next summer. Every bidder, however, must get local approval before it can make application. In some cases, an environmental study will be required. The Nassau County commission’s rules committee stipulated – and the full commission agreed – that an environmental study will be required.
Should LVS fail to get a licence, it has previously said it would develop a resort and commercial centre on the property.