Las Vegas Sands (LVS) has said that should it be awarded a New York casino license, construction costs on the Nassau County venue could reach US$6 billion.
The unveiling of these plans coincided with the firm’s disclosure of robust fourth-quarter financial results, underscoring the robust performance of its operations in Macau and Singapore.
LVS is among nearly a dozen companies vying for three downstate casino licenses New York regulators could award later this year. The company wants to build a casino hotel on the site of Nassau Coliseum in Uniondale, an effort met with resistance by Hofstra University and some local organizations.
“As you know, we’re bidding for a license in New York. We’re receiving strong local support. The cost of the building will be in the US$6 billion range, which enables us to develop a true five-star resort,” said CEO Rob Goldstein.
“This is a massive opportunity. We are very enthused about the prospect. Our bid is compelling. If we receive the license, we’d be in the ground as quickly as possible.”
Moreover, the operator is not dissuaded by recent legal hurdles, such as a court’s ruling against Nassau County’s lease transfer process to Las Vegas Sands, suggesting that the company remains undeterred in its pursuit of one of the coveted licenses.
Conversely, Goldstein admitted that predictions on when the state might make its decision are not concrete.
Source: GMB
