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 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 is believed to be the biggest tribal rev-share agreement in the US, dwarfing the cut received by the state underneath the regards to the previous contract.
Florida inked a deal aided by the Seminoles this season which gave 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, giving 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 in 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 allows the expansion of blackjack into the Miami-Dade and Broward racinos and as much as 750 slots at other venues such due to the fact Palm BeRead More ->