Sands Sets Sights On South Florida
Las Vegas Sands Corp. (LVS: 19.50 +1.14%) has set their eye on the South Florida Gaming market and is prepared to offer state lawmakers an opportunity to provide competition to the Seminole Indian Tribe.
“We’re not interested in putting up slot parlors or a gambling den. We want destinations and integrated resorts,” Sheldon Adelson of Las Vegas Sands said. “This is our specialty and we would have a very good interest in getting in — with the provision they don’t allow so many”.
Ellyn Bogdanoff a Ft. Lauderdale Legislator, who was once one of the most ardent opponents of gambling expansion puts her support behind LVS as she feels Florida is “Losing the battle” with the tribe and faces losing millions in revenue.
Bogdanoff will present the idea to the House next month to develop five to seven “destination resorts” throughout the state to “create competition”, through the Florida Gaming Equalization Act.
Sands hopes that discussions will bend in their favor and they will be able to invest in a $3 billion mega-convention center and full casino complete with shopping centers, theaters, spas, hotels and restaurants.
“I’d have to be in South Florida,” Adelson said. He said he’d also consider sites in Tampa Bay and Orlando, as long as the resorts were no more than 20 minutes from an international airport to attract national and South American travelers.
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