A Decade After Buying Herald Property, Genting Says It Is Looking To Expand Land Holdings Around Resorts World Miami

Genting is studying the possibility of expanding its land holdings in Miami, the company told investors last year.

In a June 2020 shareholder Q&A session, the company said it was “looking at various opportunities to enhance its surrounding land bank” at Resorts World Miami.

It is now a decade since the company first purchased property in Miami.

Genting has been quietly planning new ventures in Miami over the years, and is a partner in the Miami Beach Monorail project that was recently approved.

The company is also planning a hotel and residential tower at the Omni bus terminal owned by the county, and a marina in Biscayne Bay.

In 2011, Genting paid paid $236 million for the former Herald property and later announced plans for a massive casino project.

That same year, the company purchased $206 million in debt for an undisclosed sum on the former Omni mall and hotel to take control of that property.

Later, the company expanded and purchased additional property on the west side of Biscayne Boulevard across from the Omni, including the Checkers property.

 

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Anonymous
15 days ago

Omni mall needs to go…that building has outlived its usefulness years ago.

Anonymous
15 days ago

Yeah im sure a massive part of it is unused, doubt that arts school is using even a quarter of it.

Anonymous
15 days ago

It never had a usefulness. It opened up around 1974 and I remember going there as a kid in 1978-1979 and it was already half empty.

Anonymous
15 days ago

The sister property in Atlanta failed even earlier. It is so useless, it remains only because CNN occupies a chunk of it as their headquarters.

Anonymous
14 days ago

Thats insane haha!!

Anonymous
15 days ago

It never lived any usefulness.
F….ing ugly architecture.
Disgusting.

Anonymous
14 days ago

oh shut up.

Anonymous
14 days ago

An open mall style design with food and retail beneath an office/hotel and minimal parking would be amazing on this lot.

Anonymous
15 days ago

I want more museums and theaters in Miami BUT considering the economy right now, I’d welcome a casino, as well. I mean, why not.

Azarius
15 days ago

Exactly everyone thinks one casino turns downtown into Vegas or AC when it doesn’t. More like a French coastal city instead, if done right.

Anonymous
15 days ago

“if done right”

Anonymous
15 days ago

It never is

Anonymous
8 days ago

I like the Casinos in downtown Paris, France and Dublin, Ireland. Even the Basel Casino in Basel Switzerland. They tell me the Monte Carlo is nice, although I’ve never been.

Anonymous
15 days ago

genting doesnt operate crappy facilities….everyone of their properties is first rate….very well run and family friendly as well….simply google genting sentosa and see for yourself

Anonymous
11 days ago

read studies done on atlantic city. it brings compulsive gamblers. they use up all their money, much more likely to get addicted to alcohol and drugs, and crime skyrockets. also, as importantly, the casino of course gives deals on food and hotel stays. that siphons off tourists who otherwise would spend at neighboring businesses. casino’s are designed so customers don’t want to leave once they’ve walked inside. uniformly bad for the neighborhood.

Anonymous
2 days ago

Okay, I read the New Jersey studies. A former City Commissioner in Atlantic City was the head of Miami-Dade’s Beacon Council and he was pushing those studies for years.
After I read the Atlantic City studies, I then engaged my brain, and I used common sense. Atlantic City does not have much in common with Miami.

Follow the money. It is obvious why Genting would want a casino component to their multi-billion marina/shopping/hotel/entertainment complex.

When Genting owned 51% of Norwegian Cruise Lines, it should be obvious to any thinking person why the owners of Carnival Cruise Lines would not want their competition to own a waterfront hotel looking at the cruise ship port. Do you think that stopping this Destination Resort was important enough to hire consultants to propagate the Jersey study?

Anonymous
15 days ago

Besides, we already have them here. What’s the guitar shaped hotel in Hollywood or the Miccousuki spread on 8th St? They’re casinos guys. Just watch Hollywood steal all that business.
You’ll see sports, concerts and national events held there.
All that action could be happening downtown.
People are so stupid

Anonymous
11 days ago

there are plans to build a huge auditorium/convention center, blocks away by 11th street area no need for a casino, which will be gentings focus, not live music.

Anonymous
11 days ago

How much older have you gotten since the announcement of that “auditorium/convention center?”

Living off A1A
15 days ago

The “casino” options must include special entertainment venues, such as Theatre’s and other betterments for the city locals, not just gambling. Genting has a long compliance history throughout Asia as most municipalities have ‘entertainment’ clauses. Some are required to be ‘family’ — some are ‘adult’. Either way–by definition–to better the surrounding community in addition to the Tourist Gambling $$$.

Anonymous
15 days ago

If you ever have a chance to go to Macau, you have to see the House of Dancing Water. It is seriously one of the most entertaining things I’ve ever seen. It combines high-diving, acrobatics, synchronized swimming and motor cross all on a massive platform that can convert in seconds from a 40 ft pool to a solid stage.

Anonymous
15 days ago

Yeah, you’re right. I was hopeful that we would at least 2 more museums at Miami World Center, but apparently no such luck.

Anonymous
7 days ago

It would be great for everyone to be thoughtful and honest about this project.
Honest, meaning: tell the truth, the whole truth, and nothing but the truth.
It is a Destination Resort. The swimming pool is multiple times larger than the gaming floor. There are hundreds of thousands of square feet or retail/restaurant/ballroom/conference/meeting space, and the gaming floors were designed to be on the 3rd floors OPPOSITE the waterfront.

Please stop calling it a casino…unless you want to stop calling cruise ships by the name cruise ship, and start calling them casinos.

Anonymous
15 days ago

Maybe they can buy the Mana properties.

Anonymous G
15 days ago

They need to build what they brought first. Lets see some action then start moving on other land near. I’d rather have Melo own there property.

Azarius
15 days ago

Everything can’t be fast. Everyone doesn’t just want to build retail office or residential. Bigger visions!

Anonymous
15 days ago

If youre trying to develop a large property its going to be multiple phases and take years to get the land you need to develop. Its a waterfront property that deserves something big.

Anonymous
15 days ago

I had hope that Jorge Perez had built something that deserved to be a waterfront property (PAMM), specially at this prime location. This museum is in decline due to the lack of maintenance from the outside perspective since day 1. Dead hanging plants and lots of stains in its facade, not to mention that IMO, this is a boring structure. This is no icon for this city like other museums around the world. Hope Genting builds something iconic.

Anonymous
15 days ago

It’s dying because no one goes there

Anonymous
15 days ago

Never liked the architecture.

Anonymous
15 days ago

I was there last Sunday and was full of people. The restaurant also was packed.

Anonymous
14 days ago

I was there last week, lots of people touring the museum, and the restaurant is always busy – a real Miami gem!

Anonymous
14 days ago

I was just at PAMM last week, its always been a beautiful building. Yes, their “sculpture garden” needs more care, I suspect its a COVID-19 issue.

POLO
15 days ago

Melo own there property?! Genting is a first class act, unlike Melo that builds a lot of crap.

Anonymous
15 days ago

First class act? I think you’re a bit generous. They have built nothing in Miami after buying the Miami Herald lot more than 5 yrs. ago. The land sits empty despite promises. The promised hotel with a modern metro station has yet to materialize. Now they want to expand their land banking operation. I smell a MANA! Granted, I’m a little biased as i don’t trust Chinese or Asian intents in America.

Anonymous
15 days ago

And least Melo will build on the lots they purchase no matter how much some people may dislike them instead of just letting them sit with nothing on them for another twenty five years.

Anonymous
15 days ago

Mainland Chinese, with investment restrictions because nobody trusts them except Hunter Biden and African warlords getting rich of mines, no. Chinese diaspora populations, in this case Malaysia, and countries like South Korea and Japan with proven track records of major international development, yes.

Anonymous
15 days ago

ANOTHER ONE THAT HAS DRANK THE KOLL-AID!!

Anonymous
15 days ago

KOOL-AID!

Anonymous
14 days ago

Kool aid? Oh that would be a trumper.

Anonymous
14 days ago

Well, Richard Nixon trusted the Chinese enough because he’s the one who courted them into doing trade with U.S.
.

Market Urbanist
14 days ago

It was actually Nixon’s Secretary of State, Henry Kissenger. Right before companies hollowed out the manufacturing base of the U.S. and ushered in the Wal-Mart economy.

Anonymous
14 days ago

Both Repugnants! Hmmmm!

Anonymous
14 days ago

Lord, what a right-wing nutjob idiot.

Market Urbanist
14 days ago

Insults are poor counter-arguments. It’s not right-wing at all. The political class along with global corporations have colluded with the Chinese to hollow out the middle class since the 70s. Leftists used to actually believe this. Listen to Bernie Sanders’ speeches from 20 or so years ago.

Anonymous
14 days ago

So, how come Ronald Reagan, George Bush Sr and numb scull GW didn’t have a problem with it, and just allowed all US manufacturing to leave for China? All Repugnant administrations!

Anonymous
14 days ago

Give it a break man, Trump is gone and soon he will be in jail, or in hell!

Anonymous
15 days ago

I’d rather see an owner with a track record of world class development take a little time over Melo building the same boxes and ugly parking pedestals. Sheesh!

Anonymous
14 days ago

Yeah.. and while you’re waiting another twenty years for them to build some sort of perceived “world class” architectural structure on their lots, I’ll keep cheering Melo on for building another tower on what was once a “desolate, trash strewn, weed filled, and very embarrassing to the downtown area” that we’ve had the displeasure of looking at for over twenty-five years, lot that they purchased.

Anonymous
15 days ago

They need to build it already!

Anonymous
15 days ago

They’ve never broke ground in Miami. Ever. They’re in China and could careless about all the parking lots they own in Miami.

Anonymous
15 days ago

they are not even chinese….. they are malaysian…..

Anonymous
15 days ago

The Genting Group is headquartered in Kuala Lumpur, Malaysia. It was founded in the 1960’s by Lim Goh Tong, a Malaysian citizen of Chinese ethnicity. Malaysia is multi-racial: Malay, Chinese, Indian, Sayaka…

Anonymous
15 days ago

Give us a world class casino!!

Anonymous
15 days ago

Yeh ok . Dream on about casino in miami downtown.

Anonymous
15 days ago

Honestly I’ll be happy at this point if they just bulldoze that Checkers.

Anonymous
14 days ago

OMGGG yes!! Its the biggest eyesore in an otherwise thriving area.

Anonymous
12 days ago

It’s a Checkers.

Anonymous
15 days ago

Interesting if they’re actually serious! Gambling isn’t coming anytime soon. Maybe rethinking of turning this into a complete live, work, play development by buying more land to add an office element. Probably just me dreaming, but I guess something to keep an eye on. Could become a major hub with the monorail connecting it to the beach and the metromover connecting it to the rest of downtown.

Azarius
15 days ago

I can agree. Even though I don’t think a Casino would hear the area but hey that’s just me. I do believe they will try to buy more land to build this “New Tourist Resort” with an amusement like theme to downtown and the bay. They want to “Capitalize” on the land for future Max Dollars

Anonymous
15 days ago

“a Casino would hear the area?”

Anonymous
15 days ago

with all of this new inventory coming online, 2008 built stuff is going to get cut price wise by 30% in couple of years. Sell now if you are planning to

Anonymous
13 days ago

Keep Dreaming LOL

Azarius
15 days ago

Plus we need them here. They are a huge connection to Asian population and has a very good brand reputation built with them. So a development in Miami would only benefit Miami and south Florida region. We all could use more traffic coming from Asia

Azarius
15 days ago

Investment wise

Anonymous
15 days ago

absolutely agree….they are first rate properties

Market Urbanist
14 days ago

Define “need”.

Anonymous
15 days ago

Their casino in Vegas is going to be the class of the Strip when it opens. It already looks nicer than the Wynn.

That being said, they are going to land bank until they reach a deal with the state to build a casino. I’m not sure downtown needs it but I’m all for pulling new people into the downtown core

Anonymous
14 days ago

OK, so just bulldoze the Omni and Checkers for now. They are horrible eyesores in an otherwise thriving area. I prefer they do what they did with the Herald – lease the grounds for pop-up events, Art Basel, etc.

Market Urbanist
14 days ago

Just curious, what’s your argument for pulling new people into the downtown core?

Anonymous
15 days ago

Will Metromover be extended with a stop here?

Dave the Crackhead ™
14 days ago

get the shovels out and start breaking ground already!

Anonymous
14 days ago

Whats their holdup in building??? Their properties are a terrible eyesore in an otherwise thriving area!

Anonymous
15 days ago

Just let them build the amazing original plans with the casino and fast track it.
It is a no brainer for Miami. Forget the anti casino people looking to hold us back. This is a high end world class destination resort.

Anonymous
15 days ago

This guy dreams a casino. He lives in miami vice era of 80s. We bring you Don Johhnson with his cabriolet to ride Biscayne boulevard.

Anonymous
14 days ago

It seems that they really overpaid for this and will likely land bank on it for another few years until Related decides to take it off their hands… Too much land still available around and its direct neighbor buildings have a serious image problem.

Anonymous
13 days ago

Moesha Mana on turbo…yawwwwn!

Anonymous
12 days ago

No casinos please.

Afi K. James
11 days ago

wrong

Anonymous
15 days ago

Kill the monorail. Cut our loses.

Anonymous
15 days ago

No.

Anonymous
15 days ago

I’m pretty sure the monorail is why we’re seeing news about it again.

Anonymous
14 days ago

Keep the Monorail, lose the casino

Anonymous
15 days ago

Please no, they wouldn’t be building anytime soon

Anonymous
15 days ago

Don’t be negative about this.

Anonymous
15 days ago

Gambling is a waste of money. Instead we should be giving our money to our greatest ally in the middle east.

Anonymous
15 days ago

What will America gain from that?

Anonymous
15 days ago

He’s just a troll who can’t hold a candle to the shore power, impractical Metromover expansions, and Miami winning crowds.

Anonymous
14 days ago

The expansion of the Metromver is only impractical to idiots who have no clue.

Market Urbanist
14 days ago

I would venture to guess, based on your liberal use of the words “idiot” and “have no clue”, that you are the same person hurling insults on other posts. A rather poor method of making counter-arguments.

Market Urbanist
14 days ago

Lmao. I love it.