Florida Agrees $3.1 Billion Contract with Seminoles

Florida Agrees $3.1 Billion Contract with Seminoles

Florida Agrees $3.1 Billion Contract 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 considered to be the biggest tribal rev-share agreement in america, dwarfing the cut received by the state beneath the regards to the agreement that is previous.

Florida inked a deal with the Seminoles in 2010 which offered the tribe exclusivity on blackjack in the continuing state in return for $1 billion, spread over five years.

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

This contract expired on 1 this year, and the two parties have been negotiating ever since august.

No Expansion for 20 Years

The Seminoles, who own seven properties into the Sunshine State, will be prohibited from expanding their operations for an interval of 20 years. And while gaining the right to offer craps and roulette, the operator that is tribal relinquish its monopoly on blackjack and slots.

This allows the expansion of blackjack into the Miami-Dade and Broward racinos and up to 750 slots at other venues such because the Palm Beach Czytaj więcej about Florida Agrees $3.1 Billion Contract with Seminoles