Florida State Agency Blocks Genting – Gulfstream Resort Deal

Casino Watch Focus last reported that the Genting group was attempting to establish a destination resort that could easily support the addition of a mega casino.  They purchased the Miami Herald complex property and partnered with Gulfstream Park in an attempt to subvert the will of the voters and to that extent, the legislature that turned down their earlier casino plans.  Genting newest plan is to use a pari-mutuel permit held by the Gulfstream Park to allow a stand alone casino at their newly acquired downtown Miami site.  The St. Peters Blog is reporting that the State is declining that attempt:

On Friday, the Department of Business and Professional Regulation denied a request by Gulfstream Park Thoroughbred After-Racing Program, or GPTARP.

The agency decided the permit was only for use in Broward County and cannot be transferred to a separate place in Miami-Dade County.

The permit was the key element in a deal between Gulfstream and Resorts World, part of the Malaysia-based Genting Group, joined by breeders and thoroughbred owners and trainers, to start a new hotel/casino at a Genting-owned Miami bayfront property. Genting purchased the site in 2011 for $236 million.

In the agreement, Resorts World would use the GPTARP document to operate up to 2,000 slot machines at the Miami site while races remain at Gulfstream Park.

Critics claimed the deal essentially “decouples” racing from the highly profitable slot machines, poker and other gambling that is allowed onsite by pari-mutuel permits.

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