Race for Miami Casino License continues

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The US city of Miami, Florida is seen as one of the most lucrative potential casino markets in the world. The only problem is that casino gaming is very limited in Miami, with only slots games being featured in a few racetracks throughout the city. And the state of Florida has an exclusive agreement with the Seminole Indian Tribe, so only they can operate casinos in the Sunshine state. However, several major casino companies are looking to change all of this.

The three most serious suitors at this point are Caesars Entertainment, the Genting Group and Las Vegas Sands - with the latter two being especially interested. All three groups have met with Florida lawmakers and Miami city officials to express their interest in building a casino within the city. Their hope is that Miami and the state of Florida will work out a new deal with the Seminole Tribe so that other groups can run casinos in Florida.

Of course, this is only one hitch in the desire to build Miami casinos because there is also the matter of how much of the market Miami can sustain. The Miami urban area has 5.5 million residents, but many experts only think that they could fully support one or two mega-casinos. And when you consider the plans that Genting has lined up, the experts could be right.


Genting is hoping to build a massive 5,200-room hotel complete with a giant complex that would include a shopping mall, dozens of restaurants and a huge casino floor. Las Vegas Sands and Caesars are also interested in building similar iconic structures, which could clutter the market.


In any case, Florida would have to approve extra casinos in the city first, and this step could take a while.