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Florida to Rival Las Vegas Gambling

Posted on January 23rd, 2011

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For the longest time, Las Vegas has been unparalleled in being the most popular gambling destination for gambling enthusiasts. Recently though, the state of Florida has been under negotiations with investors about hosting a Vegas-style casino complex to be built within the state’s jurisdiction, in addition to its existing casinos that are all controlled by the Seminole Tribe of Florida. The exact location for the proposed gambling facility is yet to be revealed, although Southwest Florida had been an early contender for being the potential site during previous months when first talks regarding such issues arose.

Thirteen states in America have been continually reaping benefits owing to the existence of Vegas-style casinos in their vicinities, Pennsylvania being the top earner of gambling revenues. Pennsylvania acquired windfall profits amounting to over a billion dollars. Other states have raked in a smaller amount but still significant in the sens that it steal reached hundreds of millions. A detailed report on these figures was presented to the Florida state Legislature during the early days of the month. This report was presented in relation to the proposed Vegas-style casino, the operation of which would be decided upon by the board. As expected, two opposing sides emerged; one hoping to obtain gambling rights for the state to have supplementary income, and the other one, fearing for the complications that the casino may bring to Florida.

For the casino developers to earn legal rights in erecting gaming establishments in Florida, a Senate Bill that is currently being drafted will have to be approved by the Senate committee. State Senator Dennis Jones, R-Seminole, is the author of such a bill that would permit the construction of up to five casino resorts in various locations across Florida. These proposed casinos which are set to compete with the seven casinos owned by the Seminole Tribe if actualized, has provisions of being at least 75 miles apart. As of now, the Florida House has been silent regarding this issue. Only Gary Aubuchon, R-Cape Coral, Chairman of the House Rules Committee, has been heard, though rather discreetly, saying, “I was speaking with the House Speaker’s chief of staff just this week about this. He said it’s too early, the House has no position yet.”

Gambling expansions in the state have come at an opportune time. At present, Florida is under a twelve percent unemployment rate and is also facing a projected budget deficit of $3.5 billion. The state’s education and legal system have been estimated as lacking funding of up to $900 million. The arrival of potential casino developers and investors may be the solution to ending the state’s troubling unemployment rates and looming budget deficits. With both major dilemmas properly dealt with, Florida may be able to get back up to prime conditions after moving unsteadily and reeling from the after effects of the economic recession.

State Governor Rick Scott, during his gubernatorial campaign in 2010, guaranteed over 700,000 employment opportunities for residents of Florida over the course of seven years. The unemployment rate, exhibiting a downward trend, seems to prove that the promise is yet to be fulfilled. Those supporting gambling expansions in the state have argued that this is the best way to address the problems. Aside from gambling revenues and work options in casino floors, the resorts, hotels, convention centers, restaurants, retail shops, and entertainment venues, that inevitably spring up on casino complexes are certified to generate more income, not just for the business owners, but also for its employees whom are certain to be locals.

Even without grand gambling destinations, Florida is already one of the most famous vacation spots worldwide. With the addition of casino complexes, it may demonstrate its tourism superiority to a whole new level, which is predicted to either equal that of Las Vegas, or even surpass it. Tourism has been Florida’s top earning industry, with popular destinations such as the family friendly areas of Orlando, professional sports events in Tampa Bay, and the incomparable night life of South Beach, Miami. Unlike Nevada which is fundamentally a desert, Florida is surrounded by beaches. This, analysts believe will be its ace against Las Vegas.