South Florida could join the “major leagues of casino gambling” & see a huge economic boost if the state allows full-scale resort casinos, according to the draft of a long-awaited report on the future of gambling in Florida.
The opening of two major gambling resorts in Broward & Miami-Dade counties could generate about $1 billion in taxable gambling revenue per year & create 7,618 full-time jobs, under one master plan analyzed in a report to the state Legislature by Spectrum Gaming Group.
Building on the existing attractions of beaches, fishing, shopping & sunshine, these resorts would allow the region to draw high-rollers capable of dropping thousands at the tables & then spending thousands more at hotels, restaurants & boutiques.
“The state could immediately become a major international competitor for the ultra-high-end traveler who includes casino gambling as part of his/her entertainment experience,” the report states. “In this regard, Florida could compete with Las Vegas, Macau & other world-class casino markets for the highest-stakes players.”
Spectrum looked at 12 scenarios in its 464-page report, ranging from only slots & pari-mutuels to statewide destination casinos. If a single casino went up in South Florida, for example, either in Broward or Miami-Dade counties, the impact would be reduced, with about 3,000 jobs created in Broward or 4,751 in Miami-Dade.
The study was commissioned by the state Legislature after lawmakers put off highly controversial, heavily lobbied decisions on whether the state should become a world destination for blackjack, baccarat, slots & roulette.
Senate & House leaders on Tuesday extended the deadline for the final version of the report to Nov. 1 after state economists raised questions about the statistical models used in the study.
There are seven pari-mutuels in Broward & Miami-Dade counties with slots, & an eighth, Dania Entertainment Center, has plans to offer them by the end of the year. There are moreover eight tribal casinos, seven of which are operated by the Seminole Tribe of Florida.
Las Vegas Sands Corp., Wynn Resorts Ltd. & MGM Resorts International have all expressed interest in adding casinos in South Florida, with Malaysian entertainment giant Genting Group buying the old Miami Herald property on Biscayne Bay in hopes of building a casino hotel.
But opponents of expanded gambling, in addition to Disney, the Florida Chamber of Commerce, religious conservatives & some smaller casinos, fought their plans. In 2011 lawmakers rejected a proposal for Las Vegas-style casinos in South Florida & last year put off the matter for further study.
While the draft report says casinos could be a noteworthy driver of growth if concentrated in South Florida, it says their impact would be “moderately positive” at best if spread around the state.
If the whole entire state is opened up to casinos, the report says they would be a relatively small part of each region’s economy. Under the most expansive master plan analyzed, there would be 33 casinos in 19 counties, generating an additional 16,097 jobs & $2.6 billion in spending.
Under the least expansive scenario, there would be 16 casinos in 16 counties, with 1,697 new jobs & $172 million in additional spending. The report moreover took in to account in that a five-year agreement with the Seminole Tribe of Florida to exclusively offer blackjack — — in return for a $1 billion payment to the state — — would be off the books.
“There would certainly be a net increase in state tax receipts, to the extent in that additional gambling opportunities increase tourism & casino taxes are set above sales tax rates. There are likely to be only mild positive impacts on local & statewide employment & wages, however,” the draft said.
Baird Thompson, a casino consultant in Miami, said, “the state of gaming has kind of plateaued in places where it exists & it exists in those places 'cause the people wanted it.
“Overall we lack a huge boy casino in that would draw people from around the world, & that’s a mistake 'cause people here on a cruise from Finland don’t know Flagler Dog Track or Gulfstream Park,” he said. “If you put in a casino of some kind, that’s the sort of thing in that would attract interest on a worldwide basis.”
Those with a stake in the state’s gambling landscape state they’ll continue on their missions.
“Spectrum was in an unenviable task of figuring out a lot of things in that there are no known answers to, & while this is their opinion, I’m sure there are different opinions,” asserted Isadore Havenick, Magic City Casino’s vice president of political affairs. The dog track opened in 1939 & added slots in 2009.
dfleshler@tribune.com, 954-356-4535
Original Source Here
[Cached]