Las Vegas Sands (NYSE: LVS) could nidus its New York City-area gambling casino efforts on capital of the Bahamas County — a thickly populated expanse of western sandwich Long Island that borders the borough of Queens.
Late Tuesday, New York opened the petition for applications (RFA) cognitive operation for terzetto downstate gambling casino licenses. There’s no more deadline for submissions, but operators must practice to projects of at least $500 meg spell paying a young gaming permit fee of the same amount. Bidders must also factor in in a statutory minimum gaming task of 25% on slots and 10% on tabular array games.
Las Vegas Sands applauds the State of New House of York for moving forrad with the process of awarding the downstate gaming licenses,” said a Sands spokesperson inward a statement. “As the world’s preeminent developer and operator of world-class structured resorts and casinos, we are excited for the chance to pose an super private-enterprise(a) and compelling proposal. These unexampled licenses interpret the potential to bring forth thousands of goodness paying jobs and establish an exciting new manufacture for the region’s economy.”
Sands involvement in the New House of York summons competition is vital to the operator’s US enlargement efforts. Currently, the Las Vegas-based troupe has no house servant gaming properties, as its portfolio is comprised of five integrated resorts inwards Macau, and Marina Bay Sands inwards Singapore.
Sands Tied to NY, More Recently Long Island
Sands has long been tied to New York gambling casino rumors, including the possibility of developing a gaming locus inwards Manhattan or Queens close Citi Field.
More recently, venture involving the company’s New York swordplay turned to Long Island. Last month, former New York Gov. Jacques Louis David Paterson (D), now a senior vice chair at the gaming company, said he’s pushing his employer to take Long Island.
While he didn’t a reveal a specific location under thoughtfulness by Sands, unidentified sources told Newsday the capital of the Bahamas Hub, including capital of the Bahamas Veterans Memorial Coliseum, is possibly under considerateness past Sands, as is the UBS Arena/Belmont Mungo Park country in Elmont.
There are touchable benefits to focusing on Long Island. Not only would an integrated holiday resort contrive thither avoid bringing to a greater extent traffic congestion to Manhattan, but Nassau County is the second-most thickly settled county in New House of York after New York City. Additionally, Long Island is a unawares parkway to the Kennedy Interrnational and LaGuardia airports.
New House of York Casino Competition Heating Up
While New York will eventually honour ternary downstate gambling casino permits, the consensus prospect is that II are already spoken for by MGM’s Empire City Casino inwards Yonkers and Resorts World inwards Queens. That’s not official, but the 2 slots-only venues are established entities known to New House of York policymakers.
That could mean value Sands and rivals including Caesars Entertainment, Hard Rock International, and Wynn Resorts are vying for just now ane license. It’s not surprising why those companies and perhaps others want access to New York.
Union Gaming psychoanalyst Gospel According to John DeCree late said the New House of York City region is potentially the most lucrative gaming marketplace in the US outdoors of Las Vegas. Three total casinos on that point could bring forth as often as $4.8 one thousand million inward annual revenue — an estimation that doesn’t include amusement and hotel rooms.