{"id":12420,"date":"2014-01-08T16:11:50","date_gmt":"2014-01-09T00:11:50","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=12420"},"modified":"2023-02-07T06:47:15","modified_gmt":"2023-02-07T14:47:15","slug":"florida-genting-gets-real-boom-in-maryland-wheeze-in-delaware","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/florida-genting-gets-real-boom-in-maryland-wheeze-in-delaware\/","title":{"rendered":"Florida: Genting gets real; Boom in Maryland, frenzy in Delaware"},"content":{"rendered":"

\"Genting<\/a>Genting Group<\/strong>‘s Godzilla<\/strong>-sized proposal for a $3 billion resort on the Miami waterfront has gone into the shredder. Instead, the Malaysian developer hopes to go into partnership with Gulfstream Park<\/strong>. It would piggyback onto Gulfstream’s parimutuel license<\/a> and Gulfstream’s purses would be fattened by revenue from 2,000 Miami slots. Claimed Florida Thoroughbred Breeders & Owners Association<\/strong> CEO Lonny Powell<\/strong>, as reported by the Miami Herald<\/em>, “the deal would provide greater rewards for Florida<\/strong>-bred horses, create a thoroughbred aftercare program for retired horses, help disabled jockeys and create a dedicated marketing program to attract more horse racing fans and steer money into improving racing facilities<\/em>.”<\/p>\n

The structure of the deal has been likened to the manner in which Genting got into Aqueduct Park<\/strong> and opened its Resorts World New York<\/strong> racino. It’s also feared that if Genting doesn’t get a casino this year, it will take its very large ball and go home. Interestingly, the story implies that parimutuel operators may soon be required to offer live racing in order to keep their slots. I wonder how many could afford it?<\/p>\n

Maryland Live<\/strong> was good for 78% of Maryland<\/strong>‘s total casino revenue<\/a> last year. Well played. Thanks to the additions of Rocky Gap Casino<\/strong> and table games, revenue shot 44% up last month<\/a>. Maryland Live had a booming, 80% increase. Long suffering Hollywood Casino Perryville<\/strong> saw a 9% uptick and Ocean Downs<\/strong> racino eked out a 2% increase.<\/p>\n

Time’s running out<\/strong> for reform of Delaware<\/strong>‘s racino industry. Everyone agrees something needs doing but no one can agree what that something is. The idea of the state making a $25 million tax cut went over like a lead balloon. Halving of table game taxes has been mooted, as has been a slight tax in<\/em>crease in return for vendors getting first cut of revenues, then<\/em> the state. Simplifying (read: lowering) Internet gambling taxes is on the table, as is elimination of table-game license fees. Some politicos want to see capex reinvestment as part of the quid pro quo<\/em>, which seems fine. The good thing is that there’s no shortage of ideas and that people are talking. It would be a shame to see Delaware’s gaming industry require a state bailout two years running.<\/div>\n","protected":false},"excerpt":{"rendered":"

Genting Group‘s Godzilla-sized proposal for a $3 billion resort on the Miami waterfront has gone into the shredder. Instead, the Malaysian developer hopes to go into partnership with Gulfstream Park. It would piggyback onto Gulfstream’s parimutuel license and Gulfstream’s purses … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[70,14,120,72,101,69,111],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/12420"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=12420"}],"version-history":[{"count":3,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/12420\/revisions"}],"predecessor-version":[{"id":32314,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/12420\/revisions\/32314"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=12420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=12420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=12420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}