Tuesday, October 4, 2011 |
4 years ago
Las Vegas Sands, a casino resort company that counts Las Vegas's giant Venetian resort as its crown jewel, for years has been trying to butter up the Florida Legislature to allow gambling. The company was none too pleased when arch-rival Genting came into downtown Miami and announced a massive $3 billion plan for a megaresort and casino on the site of the Miami Herald. Now, Las Vegas Sands is striking back and is in discussions to take control of a massive stretch of the Park West area of downtown with plans to build its own megaresort and casino.
The Sands is looking to take control of about eight blocks that were once designated for an über-development dubbed the Miami World Center, but the sluggish economy dashed those plans. Now the area, between North Miami and NE Second avenues and NE Sixth and 11th streets, is made up largely of parking lots and dotted by various nightclubs.
According to the Herald,
however, the Sands would move forward with the plan only if the legislature grants company an exclusive gaming license in Miami-Dade (assuming, of course, that the legislature legalizes full gambling casinos in the first place). That would mean Genting and its Resort Worlds Miami plan would be without a casino, and likely dead.
The proposed Sands resort would be comparable to Genting's plans, and both have a similar $3 billion price tag.
So now, basically you have two of the biggest gaming companies in the world fighting to plop giant resort casinos in the middle of Miami. Genting is steps ahead, with plans and property already in place, but don't count out the Sands. That company has been waiting for years to pounce on Florida gaming and isn't likely to cede a casino in Miami without a fight.
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