Las Vegas Sands Withdraws from New York Casino Bid

By John Isaac,
Editor at online-gambling.com

John Isaac Editor at online-gambling.com

John Isaac is an editor with many years of experience in the gambling industry. He writes expert articles on card games like blackjack and poker. In addition, he is also well aware of the US gambling laws and the Indian and Dutch gambling markets. You can rely on verified information and insightful details.

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Last updated: May 10, 2025

In a press release on April 23, Las Vegas Sands (LVS) announced plans to withdraw from the New York casino licenses bid. That leaves nine applicants to race for the three permits being offered by the NY State Gaming Commission.

LVS Decides to Invest Elsewhere

Las Vegas Sands said that while it believed there was potential for building a casino at the Nassau Coliseum on Long Island, it remains concerned about the possible legalization of iGaming and its consequences. The company shared that it’s in the process of securing an agreement with a third party to whom it will transfer the option to bid for a casino permit on the Nassau Coliseum.

The NY proposal included an investment of $4 billion to build an integrated resort with various amenities. In July 2024, the group secured a 42-year lease for the site. Executives are convinced that the best use of the company’s capital is to repurchase LVS and Sands China shares. In its first quarter of 2025, LVS repurchased $450 million worth of shares.

What’s Next

The press release notes that LVS wants to offload its bid to another company that could address land-based and digital markets in New York. It’s a common practice for operators nationwide to partner with third parties to offer gambling products in various states.

If an agreement about the property’s future isn’t reached, LVS will collaborate with Nassau County and other parties to ensure its development is consistent. The county then stated that in the next month, it would become clear if a casino venue will be included on the site or not.

LVS is the second group to withdraw from bidding for the NY casino license officially. The first was Hudson’s Bay Co, which proposed building a casino at the Sak’s Fifth Avenue retail store in Manhattan. The company announced its intention to pull its bid on April 10th.

NY and Other States Concerned About iGaming’s Status

There haven’t been any new states to legalize online gaming since Rhode Island in 2023. On the other hand, existing markets have had great success. In March 2025, Pennsylvania reached a record $574.5 million in revenue, while New Jersey and Michigan also performed well.

Yet, New York hasn’t made much progress in legalizing iGaming. The theory is that lawmakers prefer to wait until the downstate launch of casinos is finished. By June 27th, all bids seeking to develop the casinos must be completed, and the permits should be issued by the end of the year.

In January, LVS CEO Rob Goldstein commented that the success of neighboring states, such as PA, NJ, and MI, creates concerns about iGaming’s impact. According to him, the fact that land-based venues partner with sports betting operators is another potential threat.