Miami Casino Plans May Give Competition To Las Vegas Casinos

If things work out for some heavy hitting investors Miami Casino plans might become reality and Las Vegas could have some big competition. The first multinational corporation to bet on legislation changes in Miami, Florida which would allow major resorts to be built into a Las Vegas gambling twin is Genting Group.

Miami Casino Plans By Genting

Coral Casino Proposal by Genting Group - Credit: Genting

The Genting Group is based out of Malaysia and has business operations in leisure & hospitality, power generation, plantations, real estate investing and oil and gas. The Genting Group runs one of the largest casinos in Singapore and has invested half a billion dollars into downtown Miami real estate to build a proposed $3.8 billion dollar Coral Reef Casino Hotel.

The proposal aims to help Miami and it’s politicians solve one of Florida and Miami’s biggest problems right now, unemployment in a tough recession. Nearly 300,000 people are out of work and need good jobs. The Associated Press interviewed a part-time a man with a part-time job at Miami Dolphins stadium who said, “With the economy the way it is and so many people out of work right now, it’s the best way to boost the economy. You’re going to bring thousands of jobs into each location.”

While Las Vegas casinos and resorts would probably face some steep competition from the warm Florida weather that is right by the ocean, many feel the Miami Casino plans would have to be extremely large to compete. Las Vegas also isn’t exactly a panacea of jobs or lack of unemployment. The Genting Group’s sales pitch is that it will create jobs and gambling revenue for Florida but Las Vegas is looking pretty sour on jobs and has high unemployment just like Florida.

Disney World Opposes Miami CasinoGroups opposing the Genting Group Miami Casino plans have members like Disney World & Horse & Dog Tracks. It seems that Disney World might be a little worried a big casino resort built in Miami could draw away its current tourist crowd and hurt its business operations. Genting Americas had a spokesman that tried to assage fears and guaranteed to purchase 50% of Asian airline seats and sell extremely large numbers of Disney World tickets.

The Las Vegas Examiner reported on some information about one of Las Vegas’s biggest casino legends, Steve Wynn. Mr. Wynn expressed interest in discussing Miami casino options while visiting Miami. Mr. Wynn was quoted as saying, “I think Miami Beach is the greatest site for a destination resort in the United States.” With a nod from one of the World’s most influential Hotel builders in the casino business South Florida is growing a list of support for a casino gambling mecca.

If you think you’ll be skipping the Las Vegas strip and Wynn Hotels in Vegas for a new Wynn hotel in Miami don’t get ahead of yourself. Politicians in Miami are worried about crime and the real benefits of turning Miami into a gambling meca that could become major Las Vegas Casino competition. City Center seems to be the only Las Vegas hotel experience that can battle off any South Florida casino threats that come it’s way. Money and casino hotel development have been moving at a fast pace in this young Las Vegas area.

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