DraftKings Stops Talks to Take Over Sands’ Nassau Coliseum Casino Bid

DraftKings will not join the casino project that Las Vegas Sands once led at the Nassau Coliseum site in Uniondale, say people who know about the situation. Even though they talked earlier about handing it over, the two companies have ended their discussions without reaching a deal. This leaves the planned development’s future unclear just a few weeks before an important state deadline.

Sands’ $241M Bet on Nassau Site in Limbo as Casino Partner Search Fails

Las Vegas Sands had put a lot of money into the project, including a $241 million lease for the site. However, in April, they gave up on their casino plans. They said the economic conditions were not good and online gambling was putting more pressure on them. When this happened, Sands representatives said they were trying to find a new partner who could help with the bid before the state’s June 27 deadline for downstate casino licenses.

People in the know said DraftKings was one of the companies they asked to step in. They talked about teaming up with others who could help the online sports betting giant move into physical casino gaming. However, those plans have now stopped, and DraftKings is out of the picture, as reported by Newsday.

Industry watchers pointed out that DraftKings seemed an unlikely pick due to its digital gaming platform focus. Though its name appears on brick-and-mortar casinos, the company does not run such venues itself. Its power comes from its online sportsbook and iGaming businesses, where it stands as one of New York’s top players.

Las Vegas Sands Focuses on Rezoning Nassau Coliseum Site

As the clock ticks down, Las Vegas Sands continues to push for zoning changes on the 72-acre site, a step seen as key to any future rebuild, whether it is a casino or not. At a recent zoning board meeting, a Sands’ lawyer admitted that a new bidder might not show up in time, adding that the chance to find a replacement was quickly slipping away.

As Sands backs out of the casino competition, it still plans to get the site ready for possible new uses. A recent environmental report puts the project’s cost at $7.6 billion, about twice the first forecast, making it harder to find someone willing to take over.

With fewer players vying for New York’s downstate casino permits, people now look at other spots, like Times Square, Aqueduct Racetrack, and Citi Field. As June 27 gets closer, no one has stepped up for Nassau yet. This makes people wonder if a casino will ever show up there, or if something different might pop up instead.