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 governmental 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 thought to be the biggest tribal rev-share agreement in america, dwarfing the cut received by the state underneath the terms of the previous agreement.

Florida inked a deal utilizing the Seminoles this season which provided the tribe exclusivity on blackjack in the state in exchange for $1 billion, spread over five years.

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

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

No Expansion for 20 Years

The Seminoles, who own seven properties within the Sunshine State, will be prohibited from expanding their operations for a period of two decades. And even though gaining the straight to offer craps and roulette, the operator that is tribal relinquish its monopoly on blackjack and slots.

This will allow the expansion of blackjack into the Miami-Dade and Broward racinos and as much as 750 slots at other venues such while the Continue reading