Report: Genting 'Considering' Sale of Former Miami Herald Site

Rendering of Resorts World Miami

Genting Group

After repetitive unsuccessful attempts at bringing a casino to the waterfront site that once housed the Miami Herald, Malaysian conglomerate Genting Group is "at the very least considering asale," reports the Miami Herald.

An anonymous source told the paper he was shown the property but Genting denies it.

"We have not shown the property to a potential buyer," Melissa Rieder, marketing manager for Genting subsidiary Resorts World Bimini, wrote in a one-sentence email.

Despite the denial, the reported encounter suggests that Genting, among Miami’s more secretive real estate players, is at the very least considering a sale of the centerpiece of the company’s nearly $500 million portfolio. In total, the developer owns about 30 acres, including the Omni Mall and several parcels next to the Miami-Dade School Board headquarters.

Florida's restrictive gambling laws have proven to be an enormous road block to the casino/resort Genting initially envisioned, dubbed Resorts World Miami.

The 14-acre site was purchased five years ago for a whopping $236 million.

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