In order to build a $5 billion integrated resort, Las Vegas Sands paid a premium to purchase the 72-acre Nassau Veterans Memorial Coliseum site on Long Island, New York.
Sands confirmed it paid $241 million in total in early June to acquire the leasing rights to the Coliseum and its surrounding grounds through a securities filing earlier this month.
A $92 million goodwill payment to Nassau Live Center, LLC—the organization that has been attempting to construct a mixed-use development on the Coliseum property since 2020—was included in the expense. Sands received ownership of the LLC's related entities and the right to lease them from Nassau Live for the remaining $149 million.
Sands confirmed it paid $241 million in total in early June to acquire the leasing rights to the Coliseum and its surrounding grounds through a securities filing earlier this month.
A $92 million goodwill payment to Nassau Live Center, LLC—the organization that has been attempting to construct a mixed-use development on the Coliseum property since 2020—was included in the expense. Sands received ownership of the LLC's related entities and the right to lease them from Nassau Live for the remaining $149 million.