Long Island Casino Costs Swell to $7.6 Billion
- 23 May 2025
- Gambling News
Building a casino hotel on the site currently housing Nassau Coliseum in Uniondale, NY, might reach costs of up to $7.6 billion, significantly exceeding the $4 billion estimate provided by Las Vegas Sands earlier.
The updated prediction is based on the final environmental impact study (FEIS) ordered by the gaming entity, which announced last month that it is withdrawing from the New York City casino race, pointing to possible risks from iGaming. It’s uncertain whether the high price influenced the operator's choice to withdraw from the competition.
The FEIS includes various elements, such as construction and labor expenses, infrastructure funding, and financing for development. It also includes the $1 million that Sands or another contender would pay to New York regulators for entry into the downstate bidding as well as the $500 million that would go to the state if a license is obtained.
Concerning the $500 million amount, there’s conjecture that cash-strapped New York might increase it to $1 billion since the state understands that gaming firms are unlikely to refuse the chance to operate casinos in the largest US metropolitan region.
Nassau County Legislature Still Desires Casino, Yet…
Earlier this week, the Nassau County Legislature voted 19-0 to approve the release of the FEIS results, which some civic organizations viewed as pushing forward with problematic casino plans.
"This vote appears to be a continuation of a pattern in which the legislature disregards the concerns of Nassau County residents in favor of the interests of Las Vegas Sands,” said The Say No to the Casino Civic Association. “We urge County Executive Blakeman and the County Legislature to lead an inclusive, transparent process to create a plan for the HUB that will benefit our community for generations to come.”
That group, along with Hofstra University and others, has consistently opposed the Long Island casino proposal, although it's uncertain if those concerns influenced Sands' choice to withdraw its bid. Nonetheless, resistance has been identified as a reason for other gaming firms leaving the New York casino competition.
Long Island Casino Prospects Seem Dull
When Sands revealed it was abandoning its New York plans, it also mentioned that it aimed to find a firm with expertise in land-based casinos and iGaming to possibly assume its responsibilities in Nassau County.
Subsequent reports indicated that the company had engaged in discussions with various parties and that an announcement was anticipated within weeks. Nassau County Executive Bruce Blakeman informed local media that he has recently received inquiries from interested parties abroad, including those from Albania and China.
Nevertheless, all of this happened a month back, and neither Sands nor the county have provided updates on the status of the Nassau Coliseum proposal since then. With a price tag of $7.6 billion, other gaming companies might be disinterested in exploring Long Island. It is evident that Sands is no longer involved, and Say No To The Casino stands against the county’s efforts to maintain the gaming venue proposal.
“We firmly believe that this action (the FEIS vote) represents a blatant and irresponsible move to push the casino project forward and circumvent the fact that no one has shown any interest or ability to step up and take over from Las Vegas Sands,” according to the organization. “Why waste taxpayer money pushing this project forward when no one wants to build it?”
