Legislation
US – Florida could support 33 casinos
By Lewis - 8 October 2013
The draft publication of Spectrum Gaming’s long-awaited report into the future of gambling in the US state of Florida has revealed that if the entire state is opened up to casinos, there could be 33 casinos in 19 counties, generating an additional 16,097 jobs and US$2.6bn in spending.
The opening of two major gambling resorts in Broward and Miami-Dade counties could generate about $1bn in taxable gambling revenue per year and create 7,618 full-time jobs, under one scenario analysed in a report to the state Legislature.
Spectrum looked at 12 scenarios in its 464-page report, ranging from only slots and pari-mutuels to statewide destination casinos. If a single casino went up in South Florida, for example, either in Broward or Miami-Dade counties, the impact would be reduced, with about 3,000 jobs created in Broward or 4,751 in Miami-Dade.
Under the least expansive scenario, there would be 16 casinos in 16 counties, with 1,697 new jobs and $172 million in additional spending. The report also took into account that a five-year agreement with the Seminole Tribe of Florida to exclusively offer blackjack — in return for a $1bn payment to the state — would be off the books.
Building on the existing attractions of beaches, fishing, shopping and sunshine, these resorts would allow the region to draw high-rollers capable of dropping thousands at the tables and then spending thousands more at hotels, restaurants and boutiques.
“The state could immediately become a major international competitor for the ultra-high-end traveler who includes casino gambling as part of his/her entertainment experience,” the report states. “In this regard, Florida could compete with Las Vegas, Macau and other world-class casino markets for the highest-stakes players.”
The study was commissioned by the state Legislature after lawmakers put off highly controversial, heavily lobbied decisions on whether the state should become a world destination for blackjack, baccarat, slots and roulette.
Senate and House leaders extended the deadline for the final version of the report to Nov. 1 after state economists raised questions about the statistical models used in the study. There are seven pari-mutuels in Broward and Miami-Dade counties with slots, and an eighth, Dania Entertainment Center, has plans to offer them by the end of the year. There are also eight tribal casinos, seven of which are operated by the Seminole Tribe of Florida.
Las Vegas Sands Corp., Wynn Resorts Ltd. and MGM Resorts International have all expressed interest in adding casinos in South Florida, with Malaysian entertainment giant Genting Group buying the old Miami Herald property on Biscayne Bay in hopes of building a casino hotel.
