The hospitality industry will get a boost owing to the voters who approved the measures that will pave the way for the construction of new gambling venues in the upcoming months. Initiatives, such as the Florida Casino Gaming Expansion Initiative, will bring new casinos to South Florida, even if the COVID-19 pandemic has halted entertainment-focused projects.
Construction, as well as other jobs, will bring a steady stream of revenue. Casinos are the ones that bring in the big bucks, their activity attracting commercial investment and development interest.
Gambling Is An Inevitable Driving Force As Far As The Economy Goes
For South Florida, casino gambling has played many roles. While bringing in new tourists, jobs and money for the local community, it has also helped boost the recognition of each casino’s community.
South Florida’s hospitality industry might not be a giant, but that doesn’t mean that it doesn’t present interest to real estate developers who are on the lookout for the next big opportunity. When real estate is thriving, the local economy is thriving.
Real Estate Projects Have Sprung Up from The Shadows of The Guitar Hotel
The Seminole Hard Rock Hotel and Casino, which is conveniently located in the heart of Hollywood, takes center stage. Designed to resemble a guitar, it reaches 450 feet into the sky. The giant guitar tower features an expansive gaming floor with 3,000 slots, 193 table games, and a 45-table poker room.
Hard Rock Live, the resort’s entertainment venue, showcases A-list entertainers and performers, sporting events and live broadcast productions in an intimate 7,000-person capacity setting.
Nearby developments are springing up around the Guitar Hotel, offering some exciting new options for potential visitors. According to Lon Tabatchnick, South Florida developer, the 441 Corridor will make people happy to come and even more likely to stay.
The Seminole Hard Rock Hotel & Casino offers Las Vegas-style game tables, such as roulette and craps. What is more, people can bet on their favorite sports at the casino, online, or in the app. Cash deposits and withdrawals can be made quickly to the web-based account, directly in the sportsbook. The Gameday Casino is your go-to information source if you seek extra information.
A Handful of Parimutuel Permit Holders in Broward and Miami-Dade Are Planning Developments Around Racing Properties
Broward and Miami-Dade counties have a group of hardcore fans who regularly pay a visit to the races. They peruse the programs, gather information to make their bets, and check their tickets. Betting on the outcome for formal horse races can turn out to be fun and profitable. Real estate developers are racing to build adjacent property, therefore, improving racing tracks.
The creation of residential subdivisions in the peripheral areas of South Florida can become a new source of profits. Nonetheless, many argue that it’s not a sure bet. Casinos aren’t designed to be external cash generators, which translates into the fact that there’s a risk for those opening businesses around gambling establishments. Indeed, there’s the likelihood of financial distress, but restructuring the company can help get out of debt.
Getting back on topic, peripheral destinations are the preferred reality. The coronavirus has changed people’s behavior and city peripheral areas attract more attention. Gambling venues draw in individuals who want to try their luck at the slot machines or card tables. Every business can get a piece of the pie. Key businesses around casinos include lodging, food, and pawn shops.
It goes without saying that there’s plenty of money involved in this affair.