Summary
- Las Vegas Sands is aiming to return to the US gaming market, targeting New York and Texas
- The company is proposing to build a full-blown casino resort on Long Island
- It is also backing a new Bill that would legalize casinos in Texas
After selling its Strip properties under a multi-billion dollar deal nearly two years ago, Las Vegas Sands is planning to return to the US gaming market with new destinations in mind. The company now has its eyes on two new states which could potentially become home to its newest casinos.
Las Vegas Sands to Compete for New York Gaming License
Sands is among companies hoping to win the third casino license up for grabs in New York, with the other two expected to go to MGM Resorts International and Resorts World which already operate gaming venues in the New York City area.
Sands is planning to develop a casino resort on Long Island in Nassau County, at the current site of the Nassau Veterans Memorial Coliseum. The project, which could cost between $4 billion and $5 billion, would be a “full-blown resort”, a flagship hospitality, entertainment, and casino development, according to the company’s Chairman and CEO Rob Goldstein.
The proposal has received positive feedback from various gaming analysts who stated that Sands could be a “serious contender” for a casino license in New York, considering its extensive experience and track record in operating both gaming and non-gaming facilities.
Sands is expected to join the New York casino bidding process alongside Wynn Resorts which has announced plans to build a casino at Hudson Yards in partnership with New York-based real estate firm Related Companies.
Caesars Entertainment will also be throwing its hat into the ring, partnering with New York City’s largest office landlord SL Green for a casino in Times Square.
Sands Pushing for Casino Legalization in Texas
Casino gambling is currently illegal in Texas but that could change if a new gaming Bill, which would allow the development of a limited number of “destination resorts” across the state, is approved into law.
Sands has been actively supporting proposals for casino legalization in the Lone Star State over the last 10 years, though previous attempts met with little success. The company is again throwing its support behind latest efforts to get casino gambling up and running in Texas, spending millions in hiring dozens of lobbyists.
The company also contributed $2.2 million to politicians during the 2022 campaign, via the political action committee Texas Sands PAC.
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