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Las Vegas Sands Corp. , which has been linked to the Miami Worldcenter site in downtown Miami, is also seriously considering Broward County as a possible home, according to one of its Tallahassee-based lobbyists.
Nick Iarossi, founding member of Capital City Consulting, spoke to the Business Journal about his client’s strategy. On Tuesday, he spoke at a panel on gambling sponsored the Fort Lauderdale Chamber of Commerce.
Sands (NYSE: LVS), which positions itself as a convention/trade show-centric company, would be looking for about 40 acres with proximity to airports and strong roadway infrastructure.
Iarossi said his client has looked at sites in both counties, but won’t make a commitment on its development plan until after the destination resort legislation is approved.
The scope of the project, which would likely include at least a half-million square feet of convention space, would depend on several variables, including the tax rate imposed on destination resorts. The higher the tax rate, the smaller the scope and investment, Iarossi said.
There are still a lot of twists and turns to come as the legislation makes its way through the Legislature. Pari-mutuels are voicing strong opposition to the current bills as long as they give exclusive authority to destination resorts for expanded, Las Vegas-style games and as long as their tax rate is different from what destination resorts would have to pay.
But some wrinkles are already developing in the original legislation: Destination gambling resort legislation will morph to provide tax parity between the newcomers and existing pari-mutuels, state Sen. Ellyn Bogdanoff said at the Tuesday forum.
As for continued opposition from business groups like the Florida Chamber of Commerce and Florida Attractions Association , Iarossi doesn’t see that changing anytime soon.