Casino group Genting eyes US$1bln Miami land sale: report

Nov 30, 2022 Newsdesk Latest News, Top of the deck, World  

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The Genting group – which operates casino resorts in Asia, the United States, the United Kingdom and Egypt – is looking to sell, for more than US$1 billion, a 6.5-hectare (16.1-acre) waterfront parcel of land in Miami, Florida in the U.S., reports Bloomberg.

The news outlet mentioned that Genting had acquired the land at Biscayne Bay, opposite Miami Beach – along with some nearby real estate – in 2011 for circa US$236 million. The group had tried to gain a Florida casino licence, but had not been successful, Bloomberg noted.

The news organisation cited some comment from Robert DeSalvio, president of Genting Americas East, regarding U.S. operations.

“In the coming months, we will be marshalling our resources with the goal of bringing a full commercial casino to our New York City property and expanding our already-tremendous offerings in Las Vegas,” the executive was cited as saying.

He added: “We are thrilled about the opportunities to expand in the two most significant gaming markets in North America.”

The group runs the Resorts World Casino New York City slot-machine facility in New York state. It is eyeing to get one of three new casino licences in downstate New York, permits likely to be issued next year. Genting opened the US$4.3-billion Resorts World Las Vegas complex in Nevada’s main gaming hub, in June last year.

Crystal Cruises, a casino cruise brand previously owned by the now-in-administration Genting Hong Kong Ltd, had when under Genting control, operated offices in Miami and had run cruise services out of Florida.

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