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 week following a deal which will see the Seminoles pay $3.1 billion to your state over seven years in substitution for the right to offer craps and roulette.
It is considered to be the biggest tribal rev-share agreement in america, dwarfing the cut received by the state under the regards to the agreement that is previous.
Florida inked a deal aided by the Seminoles in 2010 which provided the tribe exclusivity on blackjack in the continuing state in exchange for $1 billion, spread over five years.
The deal also prevented the expansion of slots gambling beyond that which already existed at a few of pari-mutuel racetracks, providing 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 an interval of twenty years. And while gaining the straight to offer craps and roulette, the operator that is tribal 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 suc