Las Vegas Sands drops NY casino plans, leaving Nassau Coliseum bid open to third-party developers

Las Vegas Sands Corp. has pulled out of the race for a casino license in downstate New York, abandoning its high-profile bid to redevelop the Nassau Coliseum site on Long Island into a $4 billion integrated resort. 

The decision was announced Wednesday during the company’s first-quarter earnings call, where executives cited growing concerns about the potential legalization of online gambling in New York and its impact on physical casino investments.

The withdrawal is a major turn in the heated competition for three available full-scale casino licenses in the New York City region. Las Vegas Sands had positioned itself as a leading contender, proposing a large-scale development with a casino, hotel, and convention space on the site of the former sports arena in Uniondale. The project had strong political support from Nassau County Executive Bruce Blakeman and the Republican-led county legislature.

Despite this backing, the proposal faced organized opposition from local residents and Hofstra University, located near the development site. In a statement to The New York Post, Hofstra University President Susan Poser welcomed the company's decision. 

“Hofstra University is pleased with Las Vegas Sand’s decision to abandon their application for a license to build a casino at the Nassau Coliseum,” she said.

Sands, which no longer operates casinos in Las Vegas and now focuses solely on its properties in Macao and Singapore, had previously criticized New York’s regulatory process as slow and unclear. 

The company reaffirmed its belief in the potential of the Nassau Coliseum site but said uncertainty over the future of online gambling in the state had changed the financial outlook.

“For Las Vegas Sands, we believe the highest and best use of our capital in the near term is to purchase Las Vegas Sands and Sands China shares,” the company said in a statement. “Accordingly, Sands has decided not to bid for a casino license in New York.”

While officially stepping away from the bidding process, the company has not completely severed ties with the site. Sands said it will continue to pursue entitlements and is open to working with a third party to carry forward a casino license application for the property.

“If the company is unable to secure an agreement that would allow for a third party to bid for a casino license on the Nassau Coliseum site, it will work with Nassau County and other parties to attempt to ensure it is developed consistent with Nassau County’s long-term vision for the site,” the statement said.

A spokesperson said the County Executive “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,” and thanked the company for remaining committed to development at the site, regardless of whether it includes a casino.

According to the spokesperson, the county is now in confidential talks with other gaming companies and expects to decide within 30 days whether to continue pursuing a casino at the site or to consider other forms of development. “In either event, there will be an exciting new development that will create jobs and positive economic activity,” the spokesperson added.

The decision by Sands removes one of the highest-profile contenders from the state’s licensing process. Remaining bidders include Mets owner Steve Cohen and Hard Rock, who are proposing a casino near Citi Field; Related Companies and Wynn Resorts, who have plans for a Hudson Yards casino; SL Green and Caesars in Times Square; and Bally’s, which has proposed a site at the former Trump Golf Links in the Bronx. The New York State Gaming Commission is expected to announce the winners of the three downstate casino licenses by the end of the year.