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Las Vegas Sands Sees Huge Opportunity in New York

Executives at the Las Vegas Sands (LVS) see a potential expansion into the recently opened New York gambling market as a game-changing opportunity. LVS Chairman and CEO Rob Goldstein recently talked at some length about the company’s efforts to secure a coveted New York gaming license and its plans for the site that now houses the Nassau Veterans Memorial Coliseum during a call with investors.

The multi-billion dollar project would be centered on Long Island, which is roughly fifty miles from Manhattan, and has a population of about 7.4 million and is looking to be huge. Goldstein commented on the scope of the project during a recent earnings call reported on by SBC Americas saying, “We’re not looking to build a casino, not a regional casino, but rather a truly large hotel with spa convention space, dozens of restaurants, a new theater, a huge entertainment feature, a transformational product, which will positively impact the community and grow tourism, a powerful statement. We’re not looking to be in this thing in a limited way.”

Goldstein went on to explain how LVS is going to bring some LV-style entertainment to NYC adding, “Our bid is very much traditional on the thinking of LVS large-scale with numerous non-gaming assets, lots of meeting space, probably 400,000 square per foot new space.”

According to a recent press release, the company is planning to spend somewhere in the neighborhood of $5 billion on the project, which includes everything from a five-star hotel to a convention space and, of course, expansive casino space.

Goldstein summed up the scope of the project by saying that it could be “transformational” for the LVS and its standing in the gaming world.