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New York|Las Vegas Sands Drops Bid to Open a Casino on Long Island
https://www.nytimes.com/2025/04/23/nyregion/las-vegas-sands-casino-nassau-coliseum.html
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The company cited the threat that online gambling posed to its profits in its decision to bow out of the competition for one of three casino licenses around New York City.
April 23, 2025, 8:17 p.m. ET
Las Vegas Sands, the casino and resort company that has aggressively maneuvered to build a casino on Long Island in recent years, said on Wednesday that it was dropping its campaign, citing the potential threat posed to its profit margins by online gambling.
Casino companies and real estate developers have fiercely competed in recent years for three casino licenses to be awarded by the state in and around New York City. Las Vegas Sands, one of the largest casino companies in the world, has been a leading contender for the right to open a casino on the site of Nassau Coliseum, a large arena just outside New York City.
Its decision to drop that bid — over what it said were concerns about “the impact of the potential legalization of iGaming on the overall market opportunity and project returns” — was a major development in the cutthroat competition to bring full-fledged casinos to New York.
Other developers who have vigorously pursued bids include Steve Cohen, the owner of the New York Mets, who wants to open a casino at Citi Field in Queens with Hard Rock Entertainment; the Hudson Yards developer Related Companies, which has proposed a casino on the Far West Side of Manhattan with Wynn Resorts; SL Green Realty Corporation, which wants to open a casino in Times Square with Caesars Entertainment; and Bally’s Corporation, which seeks to open one at a site in the Bronx that once housed the Trump Golf Links at Ferry Point.
In a statement, Sands said it still believed that Nassau Coliseum would be the best location for a new casino. It said it would seek to transfer its right to bid for a license on that site to another company, and would use the money it might have spent on the project to buy shares of Las Vegas Sands and a subsidiary, Sands China.
The proposal to open a casino in Nassau County has been met with resistance from community groups as well as Hofstra University, which has said it believes the casino would be too close to its campus.
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