New York gaming regulators are unlikely to win any races when it comes to betting.
A high-ranking executive from Sands Casino expressed frustration with state gaming regulators, criticizing the prolonged and perplexing review process that has resulted in delays of several months for licenses in the New York City area.
“We are extremely disappointed with New York,” expressed Rob Goldstein, the CEO of Sands, during an earnings call for the first quarter. This sentiment was first reported on the gambling site playny.com.
Sands is proposing a $4 billion casino complex at the Nassau Coliseum site in Uniondale. However, the state gaming commission has stated that it will not make a decision on up to three new casino licenses in the New York City area until late 2025, following several years of preliminary discussions.
Goldstein expressed frustration over the delay in their work. They had initially expected to complete the task within 24 hours, but now it seems like it will take an additional day or two.
A state judge has halted the plan for Nassau County to lease land for a $4 billion Sands casino. The judge’s decision comes after a group of residents filed a lawsuit against the county, arguing that the lease violated New York State law. The residents claimed that the county failed to conduct an environmental review before approving the lease. The judge agreed with the residents, stating that the county did not follow proper procedures and that the lease should be temporarily blocked. The decision is seen as a setback for the proposed casino, which has faced opposition from some local residents and officials.
“I must admit, the lack of clarity in this situation is both confusing and disappointing. It’s hard to say what’s going on in New York. It would be greatly appreciated if they could sort things out and keep us informed,” he expressed, voicing his frustration towards a regulator’s decision on applications.
Goldstein expressed optimism about the future of New York, stating that he remained hopeful for a turnaround.
The delay in progress extends the timeline for the potential opening of a gaming facility in the metro area to sometime in 2026.
Sands is now publicly expressing what others in the casino industry and potential bidders have privately complained about: the slow progress. However, this extended timeframe may actually work in favor of other bidders who are facing challenges in overcoming community and political opposition.
Nassau County Executive Bruce Blakeman and the county legislature under Republican leadership have given their approval for Sands to operate a casino at the Nassau Coliseum, which is owned by the government. This approval is contingent upon Sands successfully obtaining a state gaming license. The lease agreement between the county and Sands is set for a duration of 99 years.
Hofstra President Susan Poser strongly opposes the idea of bringing a casino to Sands and urges local lawmakers to reject the proposal.
Hofstra University has led the opposition and legal challenges against the Nassau-backed Sands bid.
Nassau has announced that it will revise its lease agreement with Sands following a court ruling in favor of Hostra. The ruling found that county officials had violated open meetings and environmental laws during the initial approval process last year.
The success of bidders vying for the opportunity to operate a casino in the New York City area will heavily rely on the support they receive from the local community and political entities.
In order for a casino bid to be approved, it must receive the endorsement of the state Gaming Facility Location Board.
