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 week following a deal which will see the Seminoles pay $3.1 billion to the state over seven years in return for the proper to offer craps and roulette.
It’s considered to be the biggest tribal rev-share agreement in america, dwarfing the cut received by the state underneath the regards to the agreement that is previous.
Florida inked a deal aided by the Seminoles in 2010 which gave the tribe exclusivity on blackjack in the 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 August 1 in 2010, and the two parties have been negotiating from the time.
No Expansion for 20 Years
The Seminoles, who own seven properties in the Sunshine State, will be prohibited from expanding their operations for an interval of 20 years. And even though gaining the straight 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 as much as 750 slots at other venues such due to t Continua a leggere