The Real Deal Miami

What casinos could mean for Miami condos

December 27, 2011 01:38PM

If Malaysian firm Genting gets approval to build its casino on the site
of what is now the Miami Herald’s headquarters, it could be a boon to
condominium developers in the area, according to the Miami Herald. “The
optimism brewing for the prospect of casinos has many in the real estate
industry hoping that the possible approval of gambling in Miami-Dade and
Broward counties could jumpstart South Florida’s condo market,” wrote
Peter Zalewski, founder of Condo Vultures. For South Florida’s
condominium hotels, increased arrivals from casino tourists could mean
extra dollars — with many condo hotels renting out units by the day or
week. [Miami