Florida Ready To Deal?
There’s no formal agreement approved and whether the state of Florida will decide to let the Seminole tribe have exclusive gambling rights within the state is still up in the air.
On one hand, agreeing to the compact gives Florida $430 million that’s in escrow. It would also reportedly bring in a minimum of $150 million annually into Florida’s coffers.
But, with so many clauses written into the compact that prevent any and all other types of gaming allowed in the state, including online gaming, the actual revenue to the state may be less or nil.
On the other hand, if legislators decide they can forego that $430 million and the future payments from the Seminoles for exclusivity, and expand gambling, there is a greater potential of revenue for the state and more gaming options for Florida gamblers.
Competition could loosen the slots and give gamblers a fair chance instead of giving them only one choice.
Florida’s current legislation is reviewing several bills having to do with the Gaming Compact between the Seminole Tribe and the State of Florida: SB 622, HB 749, and SB 680. PCB SICR 10-01, which would have ratified and approved the previous gaming compact, received 0 Yeas and 15 Nays in committee vote.
Also of interest is the presentation by Integrated Destination Resort Casinos (Las Vegas Sands Corporation) on March 11th to the Select Committee on Seminole Indian Compact Review. The presentation begins on page 5 of the Action Packet. A video of the March 11th committee meeting is here.
There are several other gambling bills being considered this legislative session. All bills should be watched to see if any vetoed bills are wrapped into newer bills.
Gambling is already legal in Florida. Expanding it in order to bring in other casino operators and removing the Seminole advantage is yet to be determined.