Monthly Archives: October, 2014

NBA commissioner discusses expansion of sports betting; Resorts World launches gambling cruises from Port Everglades to Bimini; lax penalties by Florida regulator for racing greyhound owners and trainers; Analysis of Seminole Indian gaming revenues

  • According to CNNMoney, NBA commissioner Adam Silver says that it is inevitable that legal Sports Betting can expand beyond Nevada, the only state where it is currently legal. Silver also seemed to indicate that the NBA might be less opposed to such an expansion than it has been in the past. Of course, there are current legal arguments against this. Followers of this blog are familiar with the Professional and Amateur Sports Protection Act (PASPA), which seems to prevent such an expansion without a change in Federal law.
  • The Fort Lauderdale Sun Sentinel says that Resorts World, a company owned by Malaysian gambling giant Genting, will be adding gambling cruises from Port Everglades in Broward County to Bimini. Genting was the driving force behind efforts the last two legislative sessions to bring Destination Resorts to Florida. Genting has accumulated property in downtown Miami to try and bring such a destination resort.
  • In line with rising criticism of live greyhound racing in Florida, Mary Ellen Klas of the Miami Herald wrote a lengthy expose detailing how the Florida Department of Pari-Mutuel wagering (DPMW) has taken too long to discipline greyhound owners and trainers, and given too-lenient penalties. Live greyhound racing has been under fire across the nation, but particularly in Florida, where the greyhound track permitholders and animal rights activists, formerly bitter foes, have set aside their differences to unite and try and minimize or eliminate live greyhound racing requirements as a condition for the permitholders to keep their licenses for other types of gambling, such as slot machines and card rooms.
  • The Sun Sentinel wrote an article comparing the gross gambling handle of the Seminole Indian tribe and the Miami Dade and Broward counties racinos. The Seminole tribe is expected to bring in about $2.1 billion dollars in gambling revenue (after payouts) this year. The Tampa Hard Rock was the largest contributor, with 42% of gaming revenue ($887 million), while the Broward Hard Rock was in second place, with 25% of gaming revenue ($528 million). Coincidentally, the Broward Hard Rock’s $528 million is estimated to be around the same as the combined revenue of all of the South Florida racinos ($531 million).