Long Island Casino Costs Skyrocket to $7.6 Billion, Raising Concerns

The Long Island casino project has had its cost estimates soar to $7.6 billion, which is almost double the previous estimate of $4 billion, as a result of inflation in construction, labor, and infrastructure spending. This was first made public in the recently published final environmental impact statement (FEIS).

Long Island Casino Costs Surge, Raising Questions About Feasibility

With developers recalibrating their financial plans, the site of the previously anticipated casino resort under construction by the Las Vegas Sands remains sand-drenched. The FEIS also points to additional cost overruns related to traffic congestion cost allocators, litigation expenses, and applications for state gaming licenses.

Stakeholder Responses To The Increasing Costs of The Casino

The FEIS findings voted to be released by the Nassau County Legislature resulted 19-0, approximately garnering split reactions. Optimism, for some officials, was later crumbled with the civic group The Say No to the Casino Civic Association stating “We urge County Executive Blakeman and the County Legislature to develop a genuine collaborative plan towards the HUB, as these multicross-generational plans are what our citizens will benefit from.”

Future of the Long Island Casino Project Remains Uncertain

The competition between Sands and other betting franchises for posh outlets in New York City leaves the destiny of Long Island casino in limbo. Reports suggest that Nassau County officials are exploring alternative investors, including international firms from Albania and China.