An 8.5-acre parcel of land that was donated to the Village of Islandia and suggested as a site for veterans housing has been sold to Suffolk Regional Off-Track Betting for its ongoing expansion of Jake’s 58 Casino Hotel.
Suffolk OTB paid $12.5 million for the parcel that adjoins the existing Jake’s Islandia property. The land had been donated to the village a couple of years ago by the owners of the former CA Technologies property next door. The donated land was earmarked by the village as a potential development site for veterans’ housing, according to real estate sources, but the village sold it to Suffolk OTB instead.
About half of the land will be used as parking for Jake’s and use for the rest of the property is yet to be determined, according to Suffolk OTB CEO Phil Boyle.
