The horse-racing industry in Florida might come back to life after Genting and Gulfstream’s partnership.
Malaysian gambling company Genting Resorts is ready to give up its plans for a mega casino resort in Miami and open a scaled-back slots-only venue instead. But since the company isn’t licensed under American gambling laws, plans for a partnership with Gulfstream Park Thoroughbred Aftercare Retirement Program are being drawn up.
Genting would be using the racetrack operator’s permit to open a venue with 2,000 slot machines and off-track betting. In turn, the horseracing operator would relocate to a new site, owned by the Malaysian casino developer.
Support for retired horses and disabled jockeys
According to recent gambling news, the deal would help boost Gulfstream’s racetrack and its other partners as well. The non-profit offers financial support to organizations caring for horses after they retire from racing and disabled jockeys.
Breeders and thoroughbred horse owners and trainers are hoping legislators will approve the permit, as the agreement would bring them various benefits.
The new venue would be built on the Biscayne Bay property which Genting bought in 2011 for $236 million. The Malaysian casino developer’s initial plans were to invest $3.1 billion in a luxury resort built on the Miami front-bay property, but the project did not receive support from state lawmakers.