Resorts World Casino announced last October a $400 million expansion that would accommodate an additional 335 VLT machines along with a new 400-room hotel and restaurants. A spokesman for Nassau OTB said the agency has no outstanding bonds. The corporation has around $4.6 billion of long-term debt outstanding, according to last year’s financial statement.

Nassau OTB sold its Farmingdale branch two years ago to Living Faith Christian Church for around $2 million to help settle a $3 million debt payment owed to Roosevelt & Cross for $5 million in revenue anticipation notes sold in 2014 after missing a March 2016 deadline. “Everything must be done to get the additional 500 machines and ensure that Nassau County taxpayers receive the money they were promised by Genting and Resorts World Casino.” “The absence of this revenue is making a very difficult financial crisis facing this county even worse,” Curran said in a statement. Around $12.8 million in VLT revenue to the county is at risk, according to NIFA.

The county’s fiscal control board, Nassau Interim Finance Authority, rejected a $2.99 billion 2018 fiscal year budget in December because of uncertain revenue assumptions, prompting new County Executive Laura Curran to submit a revised spending plan on March 15 two months after taking office that contained $54.7 million in new projected savings and revenue. Nassau County has faced fiscal challenges in recent years with repeated structural budget deficits.

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