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US – Genting back with racino plan for Florida

By Phil - 10 January 2014

Having struggled in its bid to bring a destination casino resort to Miami, Genting Resorts World is now looking to partner with a Florida racetrack operator to develop a slots only venue at the Miami waterfront.

The deal would see Genting shape up as the slot operator in a four-pronged partnership led by the licence owned by Gulfstream racetrack to open a venue with 2,000 slot machines and off-track betting. Genting has already partnered with racetrack operators in the US with its slot only venue at Aquaduct race track in Queens, New York, blazing a trail of success.

Lonny Powell, CEO of the Florida Thoroughbred Breeders and Owners Association, said: “Over the past couple of years, Genting has decided to look at this with a fresh set of eyes. I think it’s game-changing. This is the first partnership where the revenue stream and investment would actually go back into the horses.”

Some of the profits would go into a non-profit company to boost prospects for Gulfstream racetrack, Florida horse breeders, owners and trainers. The unique partnership would give greater rewards for Florida-bred horses, see the development of a thoroughbred aftercare program for retired horses, help disabled jockeys and create a dedicated marketing program to attract more horse racing fans and drive money into improving racing facilities.

The deal hinges on Gulfstream’s claims that a licence it was awarded last year allows it to conduct business in the counties of Miami-Dade and Broward because the approved venue is located on the county line. State legislators have refuted the claim meaning Genting would need law makers to clarify the law and also convince partimutuel regulators to change their rules.

Back in 2011, Genting presented plans for a US$3.1bn resort on 13.9 acres on Miami waterfront at Tallahassee. State legislators have rejected that proposal twice with most observers agreeing it has just one more chance to be passed in the coming session. Genting has said it will continue the development of a resort at the site regardless even if it doesn’t get approval for a casino.

The latest plans for a slot only racino have been slammed in some quarters.

Wilbur Brewton, lobbyist for Calder Casino and Race Course, said: “If they issue a permit it will draw a legal challenge. This is an expansion of gambling.”