Casino Bonanza Stalls as Court Nullifies Nassau Veterans Memorial Lease Transfer
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A New York State Supreme Court justice has recently nullified a previously agreed lease transfer of Nassau Veterans Memorial Coliseum in Uniondale, NY. The site has caught the attention of Las Vegas Sands which seeks to create a $4 billion casino hotel there.
Earlier in May, the Republican-leaning Nassau County legislators displayed almost unanimous support for Sands’ proposal, voting in favor of granting them a 99-year lease. This contribution to the development of county-owned land has thus far cost Sands $241 million for the former lease holder, Nassau Live Center LLC, as well as an additional $54 million paid to the county itself.
While the plan to procure one of the three pending New York City-area casino permits sees widespread support among Nassau County politicians, there are opposing voices too. The most significant of these can be heard from Hofstra University, which had claimed in an April lawsuit that the county officials engaged in discussions regarding the Sands casino without informing the public – an act that breachesNew York’s open meeting laws.
In her decisive judgement, Justice Sarika Kapoor agreed with the complaints of the university, expressing the need for better public scrutiny toward such projects. On the other hand, Sands remain steadfast in their ambitions, maintaining that the ruling will not affect their plans or odds of acquiring a gaming permit in New York.
Kapoor noted in her resolution that Nassau County needed greater attention on facilitating public comment and addressing potential community impacts that might arise from the gaming venue. As part of their argument, Sands focus on its significant job creation prospects and potential influences in enhancing Nassau County’s fiscal condition.
However, this endeavor has not been without contention. The Say NO to the Casino Civic Association has voiced concerns about potential increase in crime, environmental harm, and traffic congestion. The group is urging for an environmental and traffic impact study to be carried out in light of the Supreme Court ruling.
Reflecting on the chaotic situation surrounding New York’s casino process, potential delays loom ahead for the industry’s biggest players. Moreover, legal allegations of illicit sports betting activities could potentially impede future deals. Each event adds an additional layer of complexity to the process of New York’s casino licensing efforts.
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