Florida Interests Partner on Slots Facility
Description:
The company that operates a casino at New York's Aqueduct Race Track is partnering with Florida racing and breeding interests to construct a "waterfront slots only Thoroughbred inspired resort" in Miami.
According to a release from the Florida Thoroughbred Breeders' and Owners' Association, the facility would be built by the Genting Group, operators of Resorts World Casino New York City at Aqueduct Race Track, Resorts World Singapore and Resorts World Manila through an arrangement with the FTBOA, Gulfstream Park, and the Florida Horsemens' Benevolent and Protective Association.
Located in the downtown Miami area, the resort would have an emphasis "on economically growing the Florida thoroughbred breeding and racing industry," according to the release. "The groups behind the project (including the FTBOA) believe it would be a boon to thoroughbred racing and breeding in Florida."
According to the FTBOA, the project is tied to a non-profit horse racing license held by The Stronach Group, operators of Gulfstream Park, under its Gulfstream Park Thoroughbred After Racing Program (GPTARP).
"GPTARP would generate funds for Florida Thoroughbred retirement and aftercare programs, disabled jockeys, workers' compensation funds to help protect owners, long term capital improvement funds at Gulfstream Park to be used exclusively for racing related projects at the track, and a long term marketing program designed to create more Thoroughbred racing fans," according to the release.
The release said GPTARP funds will also be used to "significantly enhance purses, greatly expand stakes and prize money for Florida-bred stakes races and stakes winners, and provide a boost to Florida-bred awards and incentives as the owning of a coveted Florida horse farm even more attractive to local and global investment."
According to the Miami Herald, plans call for the Genting Group to build high rise condominiums and a resort hotel with about 2,000 slot machines on bayfront property formerly occupied by the Miami Herald purchased by Genting in 2011 for $236 million dollars.
In addition to about 2,000 slots, the facility would consist of a "modern state-of-the-art race simulcast lounge and theater."
Genting was previously unsuccessful in obtaining legislative approval for a larger casino operation at the same site.