Friday, 28 October 2011

Vast casino's planned for Florida

The US state of Florida has announced plans to create a huge casino complex to rival Las Vegas. The scheme is backed by many of the states Republican's on the basis of a boost to the economy and provision of jobs. It also hopes to create a specific state gambling agency which would licence, regulate and enforce gambling in Florida.

The rub in the deal for the operators is that The Florida State Gaming Commision will award three casino licences in return for an investment of at least $2 billion by each casino owner.

Current state laws bar casinos from expanding beyond businesses operated by the Seminole Indian tribe and selected race courses.

The potential development has not been met with universal approval as the state has traditionally been more conservative in its outlook. View have already been broadcast from  Walt Disney Co who say that gambling tarnishes the 'family friendly' image of Florida.

It appears that these fears may not be enough to stop the proposal as Malaysian company Genting Berhad announced in May that it was paying $236 million for a 14 acre property on Miami's waterfront.