The Race Continues on for a Miami Casino

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Published on 16/11/11 - Updated on 17/03/22

Genting Group is one step ahead of its rival, Las Vegas Sands, in opening up a gaming complex in Miami, pending approval from the Florida legislature.

The Genting Group from Kuala Lumpur (Malaysia) announced that it acquired the Omni Center & Hilton Hotel complex in downtown Miami, a step towards its development of a large Miami casino-resort project.The location will be included the $3.8 billion Resorts World Miami project, which is planned to be a casino-resort mega-complex, under the condition that the Florida State Legislature validates changes to gambling laws to allow the development to continue. Overall the mega-complex will have four hotels, a convention center, two residential buildings and a 3.6 acre (1.4 hectare) rooftop lagoon. The land was bought from U.S. newspaper The McClatchy Co. in May, and includes the building that houses theheadquarters of the Miami Herald.Genting purchased $161 million in remaining mortgage debt on the Omni Center, a mixed-use property in September.The location will be included the $3.8 billion Resorts World Miami project, which is planned to be a casino-resort mega-complex, under the condition that the Florida State Legislature validates changes to gambling laws to allow the development to continue. Overall the mega-complex will have four hotels, a convention center, two residential buildings and a 3.6 acre (1.4 hectare) rooftop lagoon. The land was bought from U.S. newspaper The McClatchy Co. in May, and includes the building that houses theheadquarters of the Miami Herald.

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