Posted on: December 1, 2022, 10:05h.
Final up to date on: December 1, 2022, 11:48h.
The Alabama-based Poarch Band of Creek Indians is on the cusp of buying Magic Metropolis On line casino in Miami, one in every of Florida’s longest-running playing operations, The Miami Herald reviews.
Magic Metropolis On line casino has been run by the identical household for 70 years. Its new proprietor would be the Poarch Band of Creek Indians. (Picture: Magic Metropolis On line casino)
The Poarch Creeks have entered into an asset buy settlement with present proprietor West Flagler Associates that can see the tribe purchase 100% possession and fairness curiosity in Magic Metropolis’s playing allow for an undisclosed sum, pending regulatory approval. That’s in response to an software submitted to the Florida Gaming Management Fee final month.
The fee board is predicted to fulfill Thursday in Tallahassee to debate transferring the allow to the tribe, which operates a number of casinos and racetracks throughout the US by way of its gaming arm, Wind Creek Hospitality.
The fee’s workers has really helpful the five-member board approve the allow switch, in response to The Herald. Many particulars are redacted within the copy of the asset buying settlement uploaded to the fee’s web site, together with data on the financing of the deal.
The Poarch Creeks have been increasing their gaming footprint throughout the US in recent times, reaching far past their Alabama reservation. Most notably, they acquired the Sands Bethlehem from LVS in 2019 for $1.3 billion, renaming it the Wind Creek Bethlehem.
In addition they personal two properties in North Florida, a card room in Pensacola, and a barrel racing monitor and card room in Gretna.
Magic Metropolis first acquired a allow to supply playing in 1931. This was for greyhound racing at its Flagler Canine Observe. Races had been run regularly till 2018, when the game’s waning recognition prompted Magic Metropolis to give attention to jai alai as a substitute.
The property is one in every of just some card rooms in Florida permitted to supply slots in addition to pari-mutuel betting. Exterior of the Seminole Tribe’s Exhausting Rock-branded casinos, slots play is restricted to a handful of operations in Miami-Dade and Broward counties,
Magic Metropolis has been a family-run enterprise since 1952, passing by three generations of the Havenick household, which owns West Flagler Associates. The corporate additionally runs the Bonita Springs Poker Room close to Fort Myers, which is able to stay in its management.
As well as, it has a allow to function jai alai in Miami’s up-and-coming Edgewater neighborhood. It’s been pushing for years to ascertain a pari-mutuel facility there, however has met with native resistance.
West Flagler spearheaded the authorized problem that led to a DC federal decide rejecting Florida’s proposed compact with the Seminole tribe. That settlement would have given the tribe a monopoly on sports activities betting within the state.