Florida governor Rick Scott hails the largest 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 week following a deal which will see the Seminoles pay $3.1 billion to your state over seven years in return for the best to offer craps and roulette.
It’s believed to be the biggest tribal rev-share agreement in the usa, dwarfing the cut received by the state under the terms of the previous contract.
Florida inked a deal with the Seminoles this season which gave the tribe exclusivity on blackjack in the state in return 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, 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 within 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 tribal operator will 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 due to the fact Palm Beach Kennel Club.