When Genting Group decided to purchase the Miami Herald building back in 2011 for $236 million, it followed that up with the announcement of its plan to build the world’s largest casino. Two years later, that $3.8 billion project has yet to get started and according to CBS Miami, those plans may be put in the back burner for now.
Instead, Resorts World Miami spokesman Tadd Schwartz announced that the company will instead focus on building a luxury hotel and two condominiums. It’s a far cry from the grandiose 10-million square-foot plans that was to sit on a 14-acre plot of land that will include up to four hotels with 5,200 rooms, 1,000 residential units, featured coral-reef-inspired skyscrapers, a new three-mile Baywalk, a convention center, and a multitude of shopping, dining , and entertainment options, including what was being promised as the largest ballroom in the US.
Developers are still hopeful to build a casino in the area to complement the hotel and condominiums that are now being thrust into the forefront as part of its new Phase 1 plans. But the casino is still contingent on whether the state will change its stance on current laws and allow resort casinos to be built. It won’t come easy because there’s a strong contingent of companies and establishments that are agains the idea of changing existing state laws regarding destination casinos.
Genting has already tried to lobby lawmakers to jump fences and reverse the current laws, spending hundreds of thousands of dollars last year on campaign donations in an effort to win approval. But even that has failed to yield the kind of results the Malaysian-based operator is still looking for. So with those plans stalled in the meantime, Genting is shifting its plans as opposed to staying idle and waiting for grace to fall on their laps.
