West Group Law PLLC Recently Represented Nassau County, NY in Connection With a Lease Agreement With Las Vegas Sands, a Luxury Resort and Hotel Management Company, for a Potential $4.5 Billion Redevelopment of the Nassau Veterans Memorial Coliseum Site Into a World-Class Entertainment Destination

West Group Law PLLC (WGL) recently represented Nassau County, NY in connection with a 99-year lease with Las Vegas Sands, a luxury resort and hotel management company, for the 72-acre Nassau Veterans Memorial Coliseum site. Las Vegas Sands (LVS) contacted the County regarding the site in connection with their intention to pursue the development of a multi-billion dollar world-class hospitality, entertainment and casino project in order to compete for one of three downstate New York casino gaming licenses to be issued by the New York State Gaming Commission. LVS intends to invest more than $4.5 billion in the event that a casino license is awarded to LVS by the New York State Gaming Commission.

Based upon the lease negotiated by WGL attorneys, in the event that a casino license is awarded to LVS, LVS will pay the County more than $550 million over the first 10 years of the lease, including an upfront non-refundable payment of $54 million to the County, and an initial annual rent of $5 million which will increase to $10 million upon the commencement of the casino operation. Additional payments include provisions for public safety and community benefits. Pursuant to the lease, LVS will also construct an on-site police substation as well as a monument, memorial, or other tribute to veterans of the armed forces of the United States of America. This lease and the corresponding project have the potential to provide numerous jobs and economic development, and transform this area of Nassau County into an attractive destination for the tri-state area, as well as the country.

Members of the WGL team have been representing Nassau County for more than a decade, including with respect to the previous redevelopment of the Nassau Veterans Memorial Coliseum site – a project valued at more than $300 million. Our representation of the County extends to advising on the $1.2 billion privatization of the operations and maintenance of the County’s sewer system; the lease and development of a $140 million cancer research and treatment facility; and an innovative public-private partnership transaction involving the lease and private operation of the County’s district energy system that will provide thermal and electrical energy to a number of private and public entities.