A plane at Miami International Airport

A major selling point for the developers lobbying to bring casino resorts to downtown Miami is the boost it would provide to hotels, restaurants and other staples of the tourism industry.

But the Miami Herald questions whether the costs of legalizing gambling are really worth whatever benefit it may offer to a vacation industry that just posted its best year ever despite the recession. Miami hotel room revenue rose 14 percent in 2011, the third largest gain in the nation, and hotel tax revenue skyrocketed 29 percent even after a strong 2010. [more]

As expected, Miami Beach commissioners voted unanimously Wednesday to oppose an expansion of gambling in the city, the Miami Herald reported. Further, they demanded that the Florida legislature reject any bill that opens South Florida to casino resorts.

In real estate terms, the vote will probably scare away casino developers from amassing property in the area, including Steve Wynn, the Las Vegas magnate who reportedly offered to fund a Miami Beach Convention Center expansion in exchange for casino development rights at the site. [more]

From left: Mayor Matti Herrera Bower and the Miami Beach Convention CenterMiami Beach Mayor Matti Herrera Bower is urging city commissioners to vote against the expansion of gambling in Miami Beach, the South Florida Business Journal reported.

Bower has authored a resolution for Wednesday’s city commission meeting that opposes casinos, claiming they harm non-gambling businesses, are socially and economically costly, promote corruption, encourage traffic and generally worsen quality of life.

But according to the Journal, one of the motives of the vote is to return the focus to the Miami Beach Convention Center. 1 Comment

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As the debate grows over potential casino resorts in Miami-Dade County, one group has been silent so far: the Greater Miami Chamber of Commerce. But that could change soon, as a committee prepares to take a vote regarding the casino plan, according to the Miami Herald. “I talk to people all over who say, ‘I know you guys are in favor of it,” said Chamber CEO Barry Johnson. “I say, ‘whoa, whoa, whoa.’” A bill going around a Chamber committee would give conditional approval to a proposed casino law if racetracks and jai-alai facilities were given the same games as the new resorts. 3 Comments

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Lawmakers can authorize slot machines anywhere in Florida, an appeals court ruled today, although according to CBS12, the decision is likely to be appealed to the Florida Supreme Court.

In the immediate future it means the Hialeah race track in South Florida is eligible for slots. The track was initially approved for slots by lawmakers before opponents challenged the law. The opposition said the track didn’t qualify under an amendment passed in 2004 allowing slots at seven race tracks throughout Miami-Dade and Broward counties. [more]

From left: Rep. Erik Fresen, Sen. Ellyn Bogdanoff and the Miami Herald headquarters

If gambling firm Genting’s $236 million bet on Miami’s casino future is ever going to pay off, now might be the time. The St. Petersburg Times reported that Rep. Erik Fresen (R-Miami) and Sen. Ellyn Bogdanoff (R-Fort Lauderdale) will unveil their legislation to allow Genting and others to bid on three licenses to bring resort-style casinos to South Florida in the next two weeks.

The idea is gaining more traction than ever before thanks to the region’s economic difficulties. “If we weren’t in double-digit unemployment and a receding economy, I don’t think there would be much appetite for this bill but, in this environment, it’s almost an obligation to discuss it,” Fresen said.
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Casino executives from top Las Vegas resorts are making the case for a slew of Nevada-style resorts in Florida. The proposal includes four to six gambling resorts, each likely to cost more than $2 billion. According to Amy Baker, the Florida Legislature’s chief economist, the state could generate up to $2.3 billion just from up-front fees. The company is particularly interested in Miami-Dade and Broward locations. This is not the first time such a bid has been made, including the more recent lobbying by the developers of the Fontainebleau remodel in 2008. Questions remain about how such a proposal, if approved, would affect those casinos already operated by Indian tribes such as the Hard Rock, and whether any gambling rule liberalization would apply to pre-existing facilities in the state. [Sun-Sentinel] 2 Comments

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