Miami Real Estate: Asian Casino Giant Wants to Bring Gambling to Downtown Miami

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By Douglas Hanks
When it comes to waterfront gambling, it’s hard to finder a bigger bet than the one Genting Malaysia made Friday in downtown Miami.In paying $236 million for the 14 acres that house The Miami Herald, the Asian gaming giant envisions a luxury casino resort on Biscayne Bay even though Florida law forbids it. But people close to the deal say the Asian conglomerate has the patience to wait out the politics of casino gambling, and the deep pockets to stick with the venture if the slot machines and blackjack tables don’t materialize.“They’re going to hope that four or five years from now, they can print money,’’ Victor Lopez, a former senior Hyatt executive, said of the lush profits a casino can generate. “If the gambling legislation doesn’t come through, then they’ve made a real estate investment. If they take a little bit of a beating, so what? They can afford to.’’Valued at $45 billion, Genting and its affiliated companies cast a long shadow on two continents’ casino industries, with designs on a third. The largest casino operator in both Southeast Asia and the United Kingdom, the company based in Kuala Lumpur also is a major producer of palm oil and a residential developer. The publicly traded company, which employs about 50,000 people worldwide, used its deep pockets in 1999 to purchase the Miami-based Norwegian Cruise Line, then sold a 50 percent stake in 2008 to private investors.

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Pamela Diaz-de-Leon With an accomplished background encompassing Diplomacy, Architecture, Business and Film, Pamela Diaz-de-Leon brings to the real estate industry the entrepreneurial expertise which stem from her interdisciplinary experience. Her world wide network of distinguished personalities carefully knitted of relationships formed in her five years as the Cultural Attaché for the Instituto Cervantes, serving the King of Spain, in Chicago, and her Hollywood connections acquired while working with a recognized film distributor, give her the global platform in which she has developed her business with great success. Knowledgeable, informed and organized she holds ethics and integrity as her highest values thus, providing her customers with an excellence of service that ensures their utmost satisfaction and their continued loyalty to her work. Office. 305.677.5055 Cell. 305.720.8439
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