Las Vegas Sands Runs into New Problem with NY Casino Plans
LISTEN TO THIS ARTICLE:A major setback has stalled Las Vegas Sands' (LVS) project to build a massive casino complex around the Nassau Coliseum in New York. A state Supreme Court judge ruled that LVS lacks a valid lease for the area, throwing a wrench into the ongoing legal battle involving the company, Nassau County and Hofstra University.
Back to Square One
This legal saga began in April when Hofstra sued, claiming the county violated open meetings laws when transferring the lease from the previous tenant to LVS. In November, a judge already invalidated LVS' initial lease with the county. Now, the judge has struck down a separate agreement LVS had with the former leaseholder.
The latest ruling by the state Supreme Court emphasizes the need for public involvement and environmental evaluation before any development or transfer of the Nassau Coliseum, as Hofstra's lawyer Adam Schuman highlighted. He stressed that public hearings and county reviews are crucial before moving forward, allowing citizens to voice their opinions on the project's future.
LVS initially paid $241 million to acquire the lease, hoping to boost its chances of securing a coveted downstate gaming license. However, the judge's decision clarifies that any new lease agreement needs to be in writing and comply with both county regulations and open meetings laws.
This ruling forces LVS and Nassau County back to square one. They must now comply with discovery processes and public hearings, which will ultimately determine if the project can proceed.
Fight With Hofstra University Continues
Meanwhile, the legal battle has taken a political turn, with County Executive Bruce Blakeman attempting to involve Hofstra University President Susan Poser in the proceedings. However, the judge delayed Poser's appearance before the county legislature.
Blakeman and County Legislature leader Howard Kopel have accused Poser of collaborating with LVS competitor Hard Rock International to derail Sands' project. While Poser was supposed to be questioned by the legislature last week, the hearing has been postponed until today.
The future of the project remains uncertain as LVS and Nassau County navigate the legal complexities and the ongoing dispute with Hofstra University.
More Business News
RELATED TOPICS: Business
Latest News
Responsible Gambling
Parlays, Pressure, and Addiction - The Risks of Modern Sports Betting
Dec 20, 2024Most Read
Must Read
Interviews
When Helping Others Is a Life-Long Mission - An Interview with Gordon Moody CEO, Monica Shafaq
Dec 17, 2024
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for Las Vegas Sands Runs into New Problem with NY Casino Plans