WOODBURY - The Shinnecock Indians are in talks with Nassau County to buy 40 acres of land near the Nassau Coliseum, according to Newsday.

Newsday says the Shinnecock Nation and Nassau County officials are about to sign a "memo of understanding," an initial agreement to start talking seriously about the project.

The deal could bring Nassau County $2-$3 million an acre and produce $30 million a year in revenue. Officials, however, say it is far from a done deal.

Officials say even if the tribe signs a memorandum of understanding, it could take years to get approvals for a casino from the federal and state governments.

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