Malaysia’s Genting planning to open casino 50 miles east of Miami

Miami /
Jul.July 02, 2012 09:45 AM

Malaysian firm Genting, which plans to develop the Resorts World casino project in Miami if it can receive legislative approval, has announced it will open a new casino just over 50 miles east of the city on the island of Bimini in the Bahamas. The 10,000-square-foot project at the Bimini Bay Resort, which is a partnership with RAV Bahamas, a subsidiary of Miami developer the Capo Group, is set to open in December. “It’s a $24 million investment, and we’re hoping to open by December,” said Alex Capo, CEO of RAV Bahamas. Genting purchased the Miami Herald’s headquarters in 2011 for $236 million, along with nearby land in the Omni neighborhood, but it is still seeking the nod from Florida’s lawmakers for its casino. Dana Leibovitz, vice president of operations at Resorts World Miami, is the president of Resorts World Bimini Bay. “It’s a casino attached to the biggest Marina in the Bahamas, so we’re large,” said Jesus Castanon, head of the real estate division for RAV Bahamas. “It’s a unique situation.” — Alexander Britell


Related Articles

arrow_forward_ios
UOVO Founder Steven Guttman (UOVO)
UOVO scoops up art storage facilities in Miami, West Palm Beach in $50M buy
UOVO scoops up art storage facilities in Miami, West Palm Beach in $50M buy
East End Capital’s Jonathon Yormak, BentallGreenOak’s Sonny Kalsi and 100 Biscayne Boulevard. (East End Capital, BentallGreenOak)
East End Capital, Australian investors lose suit over $6M deposit in failed downtown Miami office tower sale
East End Capital, Australian investors lose suit over $6M deposit in failed downtown Miami office tower sale
6303 and 6505 Blue Lagoon Drive with RealOp Investments CEO Reggie Bell (Google Maps, LinkedIn)
RealOp Investments buys Waterford office complex for $110M
RealOp Investments buys Waterford office complex for $110M
RedSky Capital’s Benjamin Bernstein and 2159 Northwest First Court (Redsky, Google Maps, iStock)
Fisher Brothers pays $18M for Wynwood assemblage owned by RedSky venture
Fisher Brothers pays $18M for Wynwood assemblage owned by RedSky venture
From left: Coral Gables police headquarters at 2801 Salzedo Street, Codina Partners chairman Armando Codina and a view of the new Gables PD building at 2151 Salzedo Street (Google Maps, Codina)
Codina Partners’ plan for Coral Gables rental tower advances with three-way property swap
Codina Partners’ plan for Coral Gables rental tower advances with three-way property swap
Redsky Capital's Benjamin Bernstein and the Wynwood Block building at 2621 Northwest Second Avenue (Google Maps)
RedSky, JZ sell Wynwood Block at a loss for $24M
RedSky, JZ sell Wynwood Block at a loss for $24M
Citywalk Apartments at 415 Northwest Ninth Street (Courtesy of The Porosoff Group)
Multifamily complex in Overtown Opportunity Zone hits market for nearly $12M
Multifamily complex in Overtown Opportunity Zone hits market for nearly $12M
Gil Dezer (Photos by Sonya Revell)
The Closing: Gil Dezer
The Closing: Gil Dezer
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...