Lawmakers approve transfer of Nassau Coliseum to Las Vegas Sands

Transfer approved

FOX 5 NY's Briella Tomassetti has the story.

NASSAU COUNTY - Nassau County lawmakers approved the transfer of the Nassau Coliseum to Las Vegas Sands in a near-unanimous vote: 17-1.

The 99-year lease agreement will bring the Nevada-based developer one step closer to building a $4-billion resort on the 72-acre-site, which would include the following:

Casino
Hotel
Live entertainment venue
Restaurants

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Photo credit: Las Vegas Sands

Nassau County will receive a lump sum payment of $54 million from Las Vegas Sands, to be made within the next 60 days.

Before the vote, dozens took to the podium to voice their support for and against the company’s plans. The vote followed more than five hours of a public hearing that featured nasty exchanges. One of the attendees was thrown out, while others were warned to cool off.

Proponents cited the following:

Economic prosperity
Job opportunities
Tax relief

Dozens took to the podium to voice their support for and against the company’s plans.

But countless opponents pushed back during the public hearing, citing concerns over what they said will be an inevitable increase in the following:

Crime
Drug use
Traffic
Gambling/alcohol addiction

At several points, residents traded words face-to-face with union members in the construction industry, saying the tax revenues to be generated will come from Long Islanders losing their money on the casino floor.

Las Vegas Sands must apply for a commercial gaming license from the state and faces competition from roughly a dozen entrants.

If approved, the deal would generate more than $100 million in annual revenue to Nassau County and its surrounding communities.

Transfer of Nassau Coliseum lease to Las Vegas approved

FOX 5 NY's Arthur Chi'en has the details.

Las Vegas Sands Chairman & CEO Robert Goldstein wrote in a statement: "We have held over 300 community meetings and are proud of the widespread coalition we have built with our new neighbors across Long Island. We are grateful for the trust they have placed in us and look forward to continuing to collaborate with the community."

Sands Corporation is vying for one of the coveted three casino licenses New York State is set to open up.

New York State expects it to make a decision on the three downstate casino licenses next year.