Sands Makes Case for Casinos in Florida
NEW YORK (
) --
Las Vegas Sands
(LVS) - Get Report
is making its case on Thursday to Florida's Legislature for Vegas-style casinos in the state.
The casino operator is proposing to allow non-tribal casinos in Florida to compete with the Seminole Tribe that currently monopolizes the market. Sands argues that opening up gambling would bolster Florida's economy and tourism.
Under its proposal, Sands would accept up to four bids to build resort casinos in areas including Tampa and South Florida. The proposal also states that no more than 10% of the floor space would be allocated to casino games.
While Sands would compete directly with the Seminole Tribe, the company said it wouldn't hurt the state's pari-mutuels, which target the regional market. Sands is looking to draw international tourism from South America and Europe.
-- Reported by Jeanine Poggi in New York.
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