Florida Agrees $3.1 Billion Deal with Seminoles

Florida Agrees $3.1 Billion Deal with Seminoles

Florida governor Rick Scott hails the greatest tribal rev-sharing in history as dispute with Seminoles is placed to bed.

The Seminole Tribe’s political standoff with Florida governor Rick Scott was finally resolved this following a deal which will see the Seminoles pay $3.1 billion to the state over seven years in return for the right to offer craps and roulette week.

It’s believed to be the biggest tribal rev-share agreement in the US, dwarfing the cut received by the state underneath the terms of the previous contract.

Florida inked a deal aided by the Seminoles this season which offered the tribe exclusivity on blackjack in the continuing state inturn for $1 billion, spread over five years.

The deal additionally prevented the expansion of slots gambling beyond that which already existed at a handful of pari-mutuel racetracks, offering the Seminoles a stranglehold on the slots market.

This agreement expired on August 1 this present year, and the two events have been negotiating from the time.

No Expansion for 20 Years

The Seminoles, who own seven properties into the Sunshine State, will be prohibited from expanding their operations for a period of twenty years. Even though gaining the straight to offer craps and roulette, the tribal operator will relinquish its monopoly on blackjack and slots.

This allows the expansion of blackjack into the Miami-Dade and Broward racinos and as much as 750 slots at other venues such as the Pal Continue reading “Florida Agrees $3.1 Billion Deal with Seminoles”