The $5 billion project is still in the planning stages, but receiving clearance is a major step forward.
New York has recently announced intentions to increase its gambling choices by adding three casinos in the state’s downstate regions, after the success of sports betting and its continued statewide expansion.
Bally’s, Caesar’s, Mohegan, and Las Vegas Sands, all major players in the gaming business, took notice of the massive undertaking instantly.
Now, NBC New York reports that Sands has taken a major step forward by receiving lease clearance from Nassau County in the Uniondale area, home to the Nassau Coliseum. On Monday, a 99-year lease surrounding the Coliseum was approved by a majority of the country’s parliamentarians, 17 to 1. This would allow for the construction of a massive casino project.
Casino Lease in New York
Although it has yet to get off the ground, the project’s long-term goals include the construction of a hotel, restaurants, and a casino. Even though the Sands project is expected to cost around $5 billion, its proponents insist that the increased tax revenue and number of jobs it would create will stimulate the local economy.
According to experts of online casinos in Korea, it should be noted, however, that the project has a long way to go before building can even begin. This is because Sands must first get a gaming license from the state’s gambling authority, the New York State Gaming Commission, before building on the casino can begin. Competition for licenses is expected to be tough, and it should be highlighted that Sands isn’t the only corporation applying.
Sands’ VP Ron Reese expressed his delight at the recent approval, noting that it represents a significant step forward for the project. He described the green light from Nassau County as the first step in a long procedure.
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