Florida considers integrated casino resort expansion
March 10, 2011
A bill has been introduced in the Florida legislature that would clear the way for five destination casino resorts at various cities throughout the state.
The measure calls for the development of casino complexes with conference center, retail, vacation resort and entertainment components in five Florida communities: Miami, Tampa, Jacksonville, Orlando and a to-be-determined panhandle city. The facilities would have slots and table games with exclusive rights to offer roulette and craps play. The destination casinos would be taxed at a sliding 10 percent to 30 percent rate based on revenue volume.
The state’s existing tribal and pari-mutuel casinos would be excluded from competing for destination resort licenses.
The goal of the legislation is to boost the state’s convention business. “Right now, we’re not a major player in the trade show industry,” bill co-author Sen. Dennis Jones told the Florida Sun-Sentinel.
If the legislation passes, Las Vegas Sands Corporation would commit to a $1 billion to $2 billion casino resort in Miami, according to the Las Vegas Review Journal.
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