The race to win a coveted New York City casino license now has one less bidder.
Las Vegas Sands announced last week that it would withdraw a plan for a potential bid to add a casino resort to the property at the current location of Long Island’s Nassau Coliseum.
The news comes after lawmakers approved a 42-year lease for the company to use the property for a potential casino. However, according to WABC, Sands appears to be hesitant about investing in a casino with the prospect of online gaming becoming legal in the state.
The company now looks to be attempting to unload the property to another company that may still be interested in bringing a casino to Nassau County.
“We are in the process of attempting to secure an agreement with a third party to whom we can transact the opportunity to bid for a casino license on the Nassau Coliseum site,” the company said in a statement. “This would include those that may be able to address both land-based and digital markets in New York.”
County officials will now review plans over the next month and determine whether to continue pursuing a casino in the area.
“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,” said Chris Boyle, director of communications for Nassau County Executive Bruce Blakeman.
The project hasn’t come without controversy, including a lawsuit from Hofstra University to block the plans, causing county officials to delay a lease transfer to Sands initially.
County officials accused Hofstra of “colluding” with a competing bid from Mets owner Steve Cohen and Hard Rock International. The project has also faced opposition from some residents, and critics said the process lacked transparency.
Sands had planned a $5 billion project on the 72-acre site that included a casino, hotel, entertainment venue, and housing. Sands’ exit comes as several bids began taking shape recently.
State gaming regulators are expected to award three bids for the New York City area before the end of the year. Two of those are likely already going to current racinos, with the remaining awarded to a full-scale casino project.
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