The Nassau County Legislature has approved a lease agreement for a planned $6 billion Las Vegas Sands casino-resort, marking a major step forward in the development of the massive project. The casino-resort, which will be located in Elmont near the Belmont Park racetrack, is expected to bring thousands of jobs and generate millions of dollars in revenue for the local economy.
The approval of the lease agreement by the Nassau Legislature comes after months of negotiations between county officials and Las Vegas Sands, one of the largest casino operators in the world. The agreement stipulates a 99-year lease for the land on which the casino-resort will be built, with Las Vegas Sands paying an annual rent of $40 million to the county.
In addition to the lease agreement, the Nassau Legislature also approved a package of tax breaks and incentives for Las Vegas Sands, including a 10-year property tax abatement worth an estimated $100 million. These incentives were a key factor in convincing Las Vegas Sands to choose Nassau County as the location for their new casino-resort.
The casino-resort, which is expected to open in 2023, will feature a mix of gaming options, luxury hotel accommodations, fine dining restaurants, retail shops, and entertainment venues. The project is projected to create over 5,000 construction jobs and 10,000 permanent jobs, providing a much-needed economic boost to the area.
Local residents and business owners have expressed excitement about the new casino-resort, which they believe will help revitalize the local economy and attract tourists from around the world. Some concerns have been raised about the potential impact of the casino-resort on traffic and infrastructure in the area, but county officials have pledged to address these issues through infrastructure improvements and traffic management measures.
Overall, the approval of the lease agreement for the planned $6 billion Las Vegas Sands casino-resort represents a major milestone in the development of this ambitious project. With construction set to begin in the coming months, Nassau County is on track to become a major destination for gaming and entertainment on the East Coast.
