Oct. 8--A little bit of Las Vegas is coming to Biscayne Bay.

A new gambling ship, the Casino Princesa, will join the ranks of Miami's offshore gaming industry today, when it arrives at its new home at Bayside Marketplace. The 200-foot, $15 million mega yacht is awaiting Coast Guard approval and expects to begin sailing this weekend or early next week.

"This is going to be hot," said Michael Hlavsa, managing partner of Bayfront Ventures, which owns and operates the Casino Princesa. "Miami is the perfect market for this type of vessel. It's in a rebirth, a very trendy city."

With more than 10,000 square feet of gaming space on two decks, the Casino Princesa will offer gamblers 230 slot machines and 32 tables with blackjack, craps, roulette, stud poker, and other games. In addition, there will be a sports betting area and an eight-foot video wall where games will be shown.

Nongamblers will have plenty to do, as well, Hlavsa said. There will be gourmet buffet dining and four cocktail lounges.

The ship, which has room for 600 passengers, was designed by the Jacksonville naval architectural firm DeJong & Lebet and built by Keith Marine of Palatka. According to Hlavsa, it is one of only two new boats to be built specifically for gambling cruises.

Casino Princesa's arrival in Miami has created about 200 jobs. The crew may increase by an additional 100 if passenger projections -- filling each cruise to 50 percent capacity over one year -- are met, Hlavsa said. The ship is expected to generate $20 million over five years for the local economy.

Bayfront Ventures entered into a five-year lease with Bayfront Park and the City of Miami. Casino Princesa will generate about $2.25 million for the city over the five-year period. The ship also will provide two sailings a year with proceeds earmarked for community programs. In addition, Bayfront Park will use Casino Princesa for four cruises each year with proceeds going to local charities.

Casino Princesa will sail twice daily, at 11:30 a.m. and 7:30 p.m., for four-hour trips from the dock behind the Hard Rock Cafe at Bayside Marketplace. On weekends, cruises also will depart at 1 a.m. Prices will be $12 for midday cruises and $18 for evening ones. For information, call 305-376-5825.