Newsday is reporting that Nassau County has approved using the site of the Nassau Colosseum for a Las Vegas Sands ($LVS) multi-billion dollar hotel and casino. Sands has been talking about expanding into a new market for years. For a while it looked like Spain was the best option, and then, the company was almost certain to get the coveted Osaka, Japan license. Neither country has moved forward with plans. Japan has made such a mess of the process that it went from the most attractive new gaming market in the world to so many gaming companies dropping out that there’s no competition for licenses. Expansions in Thailand, Vietnam, and Korea were all considered, and at some point, the company looked at the Philippines. We’ll be looking forward to learning more about the profitability of operating in the union-heavy expensive New York market.
Original reporting here: https://www.newsday.com/long-island/politics/casino-nassau-las-vegas-sands-yubewiy0.
Information contained in this report is believed by Deep Knowledge Investing (“DKI”) to be accurate and/or derived from sources which it believes to be reliable; however, such information is presented without warranty of any kind, whether express or implied and DKI makes no representation as to the completeness, timeliness or accuracy of the information contained therein or with regard to the results to be obtained from its use. The provision of the information contained in the Services shall not be deemed to obligate DKI to provide updated or similar information in the future except to the extent it may be required to do so.
The information we provide is publicly available; our reports are neither an offer nor a solicitation to buy or sell securities. All expressions of opinion are precisely that and are subject to change. DKI, affiliates of DKI or its principal or others associated with DKI may have, take or sell positions in securities of companies about which we write.
Our opinions are not advice that investment in a company’s securities is suitable for any particular investor. Each investor should consult with and rely on his or its own investigation, due diligence and the recommendations of investment professionals whom the investor has engaged for that purpose.
In no event shall DKI be liable for any costs, liabilities, losses, expenses (including, but not limited to, attorneys’ fees), damages of any kind, including direct, indirect, punitive, incidental, special or consequential damages, or for any trading losses arising from or attributable to the use of this report.