Just three weeks ago, Genting International proposed a multi-billion dollar project for Miami. Genting wants to build a resort that will including shopping, entertainment, hotels and a casino. It is not with precedent for some major corporation with deep pockets to approach a city in distress and offer a way out of financial difficulties in exchange for a bending of some rules – tax breaks and zoning changes, for example. The major rule that needs to be bent in Florida deals with the casino, without new legislation authorizing a casino in Miami it would be illegal. The idea is getting a good reception from the public, media and politicos in Florida and a bill is promised for this week to authorize a casino in Miami. There is some opposition, as one might suspect, the majority of the opposition comes from other casino and gaming venues – Indian casinos and racetracks with slots and from traditional anti-gambling religious groups.
Until today, it appeared the Genting was on its way to getting approval for the resort in Miami and legislation to permit a casino. But today, countering bids appeared as if from the hat of a magician. The Las Vegas Sands lead by Sheldon Adleson, is one; two developers who are touting a Donald Trump casino have added their bid to debate; and there is a consistent Steven Wynn rumor. All of the new bidders have something in common – they want to develop a resort some place away from the property that Genting bought and they want an exclusive franchise for a casino in Miami.
It reminds me of a scene from a movie about the first world war; the first boys sent over the top died, but they (if everything went right) created an opportunity for the next wave or the one after that to succeed. Genting is climbing out of the trench and going over the top, those in the trenches behind are willing sending it to its death so that they can capture the objective – the city of Miami. It Adleson’s case competing against Genting in Singapore does not enough for him – and he is pretty much eating their lunch in Singapore – he wants to slap them down in Miami too. Wow! A smack-off in Miami; Adleson, Trump, Wynn and Genting.
On a totally unrelated subject, but the kind of story that is hard to ignore; from Spain; an 85-year old princess married a 60-year old commoner. The picture is priceless – a princess to the end; there is a great deal of emphasis on making every little girl a princess these days – it is a billion dollar industry. But it has a downside, what happens when a precocious princess grows up and is no longer a little girl or a princess. When she must join into the real world and go to school, get a job and become a mother and wife – that princess thing gets to be more than a little foolish and the older the princess the more foolish it is. The Spanish princess’ family petitioned the king to stop their mother from remarrying – she replied by saying they had nothing to fear (she made her will public to prove they would lose nothing) the groom was not interested in her money – “He only wants me!”
Ken Adams
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