Florida Agrees $3.1 Billion Contract with Seminoles

on 26 ก.พ. 2020 in Casino Room Casino

Florida Agrees $3.1 Billion Contract with Seminoles

Florida governor Rick Scott hails the greatest rev-sharing that is tribal 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 believed 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 aided by the Seminoles in 2010 which offered the tribe exclusivity on blackjack in the continuing state in exchange 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, giving the Seminoles a stranglehold on the slots market.

This agreement 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 a period of 20 years. And while gaining the directly to offer craps and roulette, the tribal operator will relinquish its monopoly on blackjack and slots.

This enables the expansion of blackjack into the Miami-Dade and Broward racinos and up to 750 slots at other venues such since the Palm Beach อ่านต่อ