Despite earlier discussions, DraftKings won’t be stepping in to take over the Long Island casino project originally planned by Las Vegas Sands. Las Vegas Sands recently exited the competition to build a casino in the New York City area. After stepping away, the company began looking for another gaming company to take over its lease.
**_Despite earlier discussions, DraftKings won’t be stepping in to take over the Long Island casino project originally planned by Las Vegas Sands._**
Las Vegas Sands recently exited the competition to build a casino in the New York City area. After stepping away, the company began looking for another gaming company to take over its lease at the Nassau Coliseum in Uniondale. Despite not operating land-based casinos, DraftKings seemed to be the best go-to option for its continued leadership in the iGaming market.
According to Newsday, no deal was made, and no deal is expected to be made anytime soon. Meanwhile, the deadline for casino proposals in New York City is June 27.
DraftKings’ holdback isn’t surprising. The company’s business model is primarily online. Still, Sands isn’t giving up. They’re pushing ahead with zoning changes at the Nassau Hub site, hoping to keep the door open for future development, casino-related or not. A recent environmental study showed the project could cost as much as $7.6 billion, nearly double the original estimate, which might explain why potential partners are hesitant.
Currently, Long Island’s casino plans remain uncertain with the growing competition for New York’s casino market.