Yesterday, Nassau County, New York, signed a lease agreement with Las Vegas Sands, an American casino and resort company based in Las Vegas, Nevada, offering the company control of the Nassau Coliseum site for the next 99 years, a crucial step toward the development of the proposed New York casino-resort.

Terms of the agreement:

Under the terms of the agreement, the county will receive a one-time payment along with yearly income to the county and the city of Hempstead and surrounding communities that surpasses $100 million annually.

In this regard, Nassau County Executive Bruce Blakeman said at a briefing on Wednesday: “And we believe that will bring jobs, economic prosperity, tax relief, and improved safety here in Nassau County.”

The agreement received a lot of support, because in addition to Blakeman, the agreement was publicly supported by numerous leaders of organized labor groups, as well as the NAACP (National Association for the Advancement of Colored People). Furthermore, there’s one very important supporter of the agreement. It’s Nassau Community College, which has signed a potential alliance to officially become the Sands’ main training center if the casino proposal goes through.

Opponents of the agreement:

However, the agreement has its opponents. Notable is Hofstra University and the residents who formed a group called “Say No to the Casino”. They oppose the casino plans and say it will only increase crime and traffic.

Las Vegas Sands expansion plans:

Sands’ main goal is to expand, and for that reason its desire is to build a $4 billion “integrated resort” on the 72-acre site, better known as the Nassau Hub. Moreover, it would involve a casino, hotel rooms, ballrooms and conference facilities, a live entertainment venue, restaurants, a health club and a spa. To achieve this, the company plans to apply for a New York commercial gaming license at a cost of $500 million. In order to apply, it must have control over the location.

In addition, nearly a dozen companies are competing for three available licenses in the lower region, which involves New York City, Long Island and Westchester. On that note, should the company succeed in building its desired integrated resort, Las Vegas Sands C.E.O. Rob Goldstein said: “We’re not yet sure what it will do with the Nassau Veterans Memorial Coliseum.

“It may remain as it is, it may not. We’re going to build an alternative venue no matter what to complement that, but I don’t know at this point.”