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Las Vegas Sands signed a 99-year preliminary lease for a possible on line casino web site in Lengthy Island. [Image: Shutterstock.com]
Las Vegas Sands (LVS) has signed a 99-year preliminary lease on a 72-acre web site in Nassau County for a possible spot to construct a New York on line casino. It’s at present the placement of the Nassau Coliseum, which beforehand hosted NHL video games.
If the on line casino firm will get one in every of three downstate New York on line casino licenses, it might develop a $4bn built-in resort on the location in Lengthy Island. If the county legislature approves this lease switch subsequent month, Las Vegas Sands can pay the county $54m inside 60 days.
Annual hire will likely be $5m till the state grants on line casino licenses. It’s going to improve to $10m annually if LVS’ software is profitable. The county will get a income reduce of about $25m yearly, in addition to cash for policing and safety enhancements.
The on line casino flooring would account for lower than 10% of the property.
The power would come with ballrooms, convention area, a resort, stay leisure venue, well being spa, and eating places. The on line casino flooring would account for lower than 10% of the property. At a briefing on Wednesday, Nassau County Government Bruce Blakeman stated {that a} on line casino resort would “deliver jobs, financial prosperity, tax reduction, and improved security.”
On line casino corporations that need to pursue one of many $500m New York licenses have to have management of a web site to formally apply. Quite a lot of operators reportedly plan to take action, together with Wynn Resorts and Caesars Leisure. The licenses most probably gained’t be handed out till subsequent yr.
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