The company has signed agreements to buy the site currently home to Nassau Veterans Memorial Coliseum. It would also gain control of up to 80 acres in Nassau County, New York, through these agreements, which still need some approvals.
Robert Goldstein, Chairman and CEO said: "Our company's track record of driving significant economic benefits to the communities gives us a perspective on what it takes to develop transformative tourism destinations. Our announcement today is only the first part of this journey.”
Island development would include outdoor community areas, four-and five-star hotel rooms, and a live performance arena reflecting the long history of the Nassau Coliseum. Casino gambling, which is planned to occupy less than 10% of the project's total square footage, and swimming pool, would be included.
Sands will work with local communities to co-create a development plan.
Goldstein added: "Our proposed project would be designed to produce tens of millions of dollars in tax revenue for the local community on an annual basis.”
David A Paterson, former New York Governor and Sands Senior Vice President said: “We are committed to bringing opportunities for small businesses, approaches for minority and women-owned businesses, and an understanding of our obligation to partner and communicate our vision for the future."
The Long Island development would also make use of a cutting-edge sustainable building and operational methods with the firm's environmental sustainability programme, Sands ECO360. To attain LEED certification and become the "greenest" building on Long Island, the company will consult with environmental leaders on the island.