The Las Vegas Sands Corporation’s decision to back out of its New York casino bid doesn’t mean that hope is lost for a gaming resort at Nassau Coliseum—quite the opposite. Reportedly, Sands is already potentially close to finding another party to take over bidding on the project.
Sands has not disclosed yet which gaming company it is discussing the Nassau Coliseum with but indications point to that potential partner being currently involved in the online casino business in addition to physical casinos. That leaves a narrow field of possibilities.
Sands still pushing for casino at Nassau
According to Randi F. Marshall of Newsday, “Sands is in discussions with another company that could assume the bid for a downstate casino on the land surrounding Nassau Coliseum.” Marshall adds that “an announcement is expected within the next few weeks.”
This update follows Sands telling investors that it is passing on pursuing the license itself because of the possibility of New York legalizing online casino play.
Sands has not only passed on getting into online gambling but has also been active in lobbying against the regulation of real money iGaming. There has been legislation in Albany to affect that expansion for four consecutive years, including the 2025 session.
The collaboration with this gaming company would not impact Sands’ lease on the Coliseum, but the partner that Sands is bringing on would take over the bidding process for the gaming license. Given the existing field of contenders, the potential partners that fit the description are few.
Potential partners for Sands’ casino project
Several of the companies that could partner with Sands on a Nassau Coliseum casino are engaged in their own license bids. For example, Caesars Entertainment is seeking a license to develop a casino on Times Square while MGM Resorts looks to upgrade its MGM Empire City “slot parlor” in Yonkers to a full casino resort.
Wynn Resorts also has its own hopes for a casino in Hudson Yards. Bally’s has its eyes on a casino on Ferry Point. Resorts World is in the same situation as MGM, with hopes to build out its existing Resorts World New York City to a Class III casino.
Mohegan Gaming is part of a bid for a casino near the United Nations while Hard Rock Gaming is part of a bid to build a casino in Willets Point. Even Greenwood Gaming & Entertainment, which owns the Parx brand, is looking for a license for a casino in Hell’s Kitchen.
Among gaming companies that are active in both land-based and online gaming while also not being party to a current bid, that leaves a few possibilities. The most high-profile hypotheticals are Penn Entertainment and Rush Street Gaming. Those companies operate and own the Hollywood online casino and BetRivers online casino brands, respectively.
Collaborating with Sands on the opportunity could also open doors for smaller, more regional brands to participate in a New York casino enterprise. One example is Ilitch Holdings, which is the parent company for the Ocean Resort Casino in Atlantic City and an online casino platform that also bears the Ocean branding.
More information about an operational partner for the planned casino at the Nassau Coliseum should be forthcoming soon. For the moment, the bid is moving forward despite Sands’ decision to only act as the landlord.
