The Real Deal Miami

Genting scales back Resorts World Miami plan

Company partners with Gulfstream on slots-only casino proposal
January 08, 2014 10:30AM

A rendering of Resorts World Miami

A rendering of Resorts World Miami

With two months until the Florida Legislature convenes for its 2014 session, Genting Resorts World has dramatically scaled back the gambling component of its resort development planned for the former Miami Herald headquarters in downtown Miami.

Genting announced a new partnership that would allow the Malaysian company to use a permit owned by the Gulfstream racetrack in Hallandale Beach to open a slots-only casino at the waterfront property, the Miami Herald reported. If state lawmakers and gambling regulators approve the proposal, Genting’s Resorts World Miami could open 2,000 slot machines and simulcast betting on horse races as part of the larger development. Genting and Gulfstream would keep a portion of the revenue, with the rest allocated for thoroughbred purses at Gulfstream’s racetrack and a nonprofit company formed by other partners in the venture, which includes horse breeders, owners and trainers in the state.

To date, state regulators have refused to accept Gulfstream’s contention that its permit for the nonprofit subsidiary allows it to operate gaming facilities in both Miami-Dade and Broward counties. Genting could ask the legislature to clarify the law, push gambling regulators to change it or take legal action to try and secure the permit. [Miami Herald]Eric Kalis