Plans for a potential casino in Nassau County took a hit on Wednesday after Las Vegas Sands announced it is no longer pursuing a New York gaming license.

The company cited the threat that online gambling posed to its profits in its decision to bow out of the competition for one of three casino licenses around New York City.

Las Vegas Sands Corp. has pulled out of the race for a casino license in downstate New York, abandoning its high-profile bid to redevelop the Nassau Coliseum site on Long Island into a $4 billion integrated resort.