GENTING Group is teaming up with US horse racing associations to break into Miami’s tourism industry as it looks to build a gaming resort.
The company has signed an agreement with Gulfstream Park Racing Association, the Florida Horsemen’s Benevolent & Protective Association and the Florida Thoroughbred Breeders’ Association.
In a filing to the Malaysian stock exchange, the Group said: “As part of its overall business strategy and the Group’s expansion plans in the US, Genting continually evaluates opportunities to expand in the leisure, hospitality and entertainment sector.
“The partnership is the initial step towards enabling the Group to create a leisure and entertainment resort, which includes a gaming facility with 2,000 slot machines in Miami, Florida, US.”
Genting and partners have agreed that the Asian gaming group will take a 47.1 per cent stake in the new development, according to Reuters.
Genting last year completed the purchase for a piece of the glitzy Las Vegas Strip with intentions to establish Resorts World Las Vegas on the 35-hectare property (TTG Asia e-Daily, March 5, 2014).
