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Will gambling be allowed in South Florida and how will it affect the real estate

By
Real Estate Agent with ONE Sotheby's International Realty

Hi, I'm Leon Belenky

licensed real estate broker in Miami, Florida. For the past 14 years I've been hearing the rumors about gambling in Florida and, although we've experienced a significant gambling expansion in recent years, we're not Las Vegas or Atlantic City yet. So, my question is - will it ever happen and if it does, how will it affect the local real estate?

South Florida

has been one of the top locations for vacationers world-wide. Warm weather, warm Atlantic Ocean waters, vibrant nightlife and world-class dining makes it a very attractive place to be. However, if we add world-class casinos, like Bellagio, Wynn and MGM, what do we get? In my opinion, we get a mega vacation spot, probably the top spot for the next 10 to 15 years!

Yesterday, I spoke with one of the officials and when I asked whether Florida will get gambling, the surprising answer was "Yes, in about 6 months". So, what do you guys think - will we get it or not? And if we do – how will that affect the Miami real estate?
Vickie Nagy
Coldwell Banker Residential Real Estate - Palm Springs, CA
Vickie Jean the Palm Springs Condo Queen

Ho-hum. Tourism traffic in Las Vegas is off due to a slow economy and increased fuel costs.

Vegas has vibrant night-life and world class dining and warm weather as well.

Miami has NO overhead walkways, monorail or people movers of any sort.

Aug 25, 2008 05:04 AM
Erica Muller
The Flamingo Group - Davenport, FL

I definitely think so.  The city of Lake Worth was in talks for a long time to put a casino in along their strip on Lake Worth beach.  It hasn't hapened yet but I know there are people in high places pushing for it.  Think about it, beach + casino= The ULTIMATE hot spot!

Aug 25, 2008 05:04 AM