Genting Proposes Opening Miami Slots Casino
Last week Genting Resorts World announced that it is seeking regulatory approval to open a slots-only resort on the Miami waterfront. The proposal would see the Malaysian gambling company enter into a four-way partnership which would allow it to make use of a permit held by Gulfstream racetrack to open a slots casino at a Biscayne Bay property.If they receive approval then Genting will open a 2,000 slot machines and off-track betting casino. The proceeds would then be used to further thoroughbred purses at Gulfstream’s racetrack.
Genting and Gulfstream would also keep some revenues to cover administrative costs.
The CEO of the Florida Thoroughbred Breeders and Owners Association, Lonny Powell, said, “I think it’s game-changing. This is the first partnership where the revenue stream and investment would actually go back into the horses.”
The plan is a “less lucrative option” than the $3.1 billion resort which the company first wanted to build in 2011; however, it does allow Genting to work with the horse racing industry. Genting lobbyist Brian Ballard said, “Genting, over the past couple of years, has decided to look at this with a fresh set of eyes.”