{"id":5586,"date":"2024-10-24T12:31:28","date_gmt":"2024-10-24T12:31:28","guid":{"rendered":"https:\/\/www.top10casinowebsites.net\/news\/?p=5586"},"modified":"2024-10-24T12:31:28","modified_gmt":"2024-10-24T12:31:28","slug":"las-vegas-sands-concerned-about-online-competition-amid-plan-to-build-6bn-casino","status":"publish","type":"post","link":"https:\/\/www.top10casinowebsites.net\/news\/las-vegas-sands-concerned-about-online-competition-amid-plan-to-build-6bn-casino\/","title":{"rendered":"LV Sands, Concerned About Online Competition Amid Plan to Build $6bn Casino"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.top10casinowebsites.net\/news\/wp-content\/uploads\/2024\/10\/proposed-sands-new-york.jpg\" alt=\"Proposed Sands New York\" width=\"300\" class=\"alignright size-full wp-image-5587\" title=\"Las Vegas Sands, Concerned About Online Competition Amid Plan to Build $6bn Casino\" \/><strong>Summary:<\/strong><\/p>\n<ul>\n<li>Las Vegas Sands chairman and CEO Rob Goldstein is concerned about the impact of online gambling on land casinos.<\/li>\n<li>The CEO expressed concerns about their $6 billion investment in a casino resort on New York\u2019s Long Island. \t<\/li>\n<li>Goldstein said they were still interested in the process.\t<\/li>\n<\/ul>\n<p>The chairman and CEO of Las Vegas Sands, <strong>Rob Goldstein<\/strong>, has voiced a series of concerns about the company\u2019s planned $6 billion investment in an upcoming casino resort on New York\u2019s Long Island, considering the constantly growing competition from <a href=\"https:\/\/www.top10casinowebsites.net\/usa\">online casino gambling<\/a>.<\/p>\n<h2>\u201cWe Remain Interested in the Process\u201d <\/h2>\n<p>During the company\u2019s third-quarter earnings call, Goldstein provided an update on the timeline for obtaining a casino license, revealing that operators expecting to apply for a license in New York will likely need to submit applications in the spring. <\/p>\n<p>However, a final decision on licensing may be delayed until the first quarter of 2026, rather than the anticipated end of 2025.<\/p>\n<p>\u201c<em>We remain interested in the process<\/em>\u201d, Goldstein said, adding his only concern was connected to the \u201c<em>ongoing strength of online gambling<\/em>\u201d which cannot be ignored, with special emphasis on New Jersey, Pennsylvania, and Michigan, which have already legalized online gambling, with more states to come soon. <\/p>\n<p>Goldstein noted that his outlook has shifted over the past six months due to the rapid growth of online gambling, which he believes will surpass revenue from land-based casinos in New Jersey within the next year or two. <\/p>\n<p>\u201c<em>We build capital-intensive buildings that require a long-term perspective<\/em>\u201d, the CEO explained, adding more has to be done about the \u201c<em>online impact<\/em>\u201d, a topic that he has studied \u201c<em>closely<\/em>\u201d. <\/p>\n<p>Goldstein referred to this trend as \u201c<em>pretty exceptional<\/em>\u201d and suggested that online gambling\u2019s rise could have significant implications for brick-and-mortar casinos.<\/p>\n<h2>\u201cBeyond\u201d Online Gambling Becoming Legal<\/h2>\n<p>When asked if Sands would reconsider its New York proposal if online gambling were legalized, Goldstein indicated that it might affect their plans.<\/p>\n<blockquote><p>It goes beyond that Like in Singapore, our buildings take years to finish. I need some understanding of any market with legalized online gambling.<\/p><\/blockquote>\n<p>he explained, adding that provided Singapore made online gambling legal, it would make them \u201c<em>stop and think about investments<\/em>\u201d.<\/p>\n<blockquote><p>If any market does legalize it, you think, what does it mean to me and my capital investment?<\/p><\/blockquote>\n<p>Goldstein believes \u201c<em>some resolution of the issue<\/em>\u201d must be found, as the \u201c<em>impact on land-based revenue of online<\/em>\u201d cannot be ignored. <\/p>\n<p>The proposed development, which <a href=\"https:\/\/www.legitgambling.com\/news\/las-vegas-sands-signs-99-year-lease-agreement-to-strengthen-new-york-casino-bid\/\">would be built around the Nassau Coliseum<\/a>, faces opposition from Hofstra University, located across the street. <\/p>\n<p>Critics have expressed their worries regarding an increase in the level of traffic, crime, and gambling addiction in the area as the resort will see the light of day. <\/p>\n<p>Goldstein\u2019s recent remarks highlight the growing tension between traditional casino developments and the booming online gambling industry, a trend that could reshape the future of gaming investments in New York and beyond.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Summary: Las Vegas Sands chairman and CEO Rob Goldstein is concerned about the impact of online gambling on land casinos. The CEO expressed concerns about their $6 billion investment in a casino resort on New York\u2019s Long Island. Goldstein said they were still interested in the process. The chairman and CEO of Las Vegas Sands, [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13,8],"tags":[],"class_list":["post-5586","post","type-post","status-publish","format-standard","hentry","category-industry","category-usa"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>LVS, Concerned About Online Competition Amid Plan to Build $6bn Casino<\/title>\n<meta name=\"description\" content=\"While still interested in the $6 billion casino-resort investment in the Nassau Coliseum area, Las Vegas Sands\u2019 CEO Rob Goldstein has expressed concerns about the evolution of online gambling.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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