The 2021 Compact creates a new revenue-sharing agreement with a $2.5 billion guarantee in the first five years. The Compact authorizes craps and roulette games at Seminole properties, additional facilities on the Tribe’s Hollywood Reservation, and statewide online sports betting in partnership with existing pari-mutuels
Governor Ron DeSantis said: “The final approval of this historic gaming compact is a big deal for the State of Florida. This mutually-beneficial agreement will grow our economy, expand tourism and recreation and provide billions in new revenue to benefit Floridians. I again want to thank Seminole Tribe of Florida Chairman Marcellus Osceola Jr., Senate President Wilton Simpson and House Speaker Chris Sprowls for their part in getting this done for our great state.”
Bryan Newland, Principal Deputy assistant secretary of the US Department of Interior for Indian Affairs, added: “After thorough review under IGRA, we have taken no action to approve or disapprove the Compact before August 5, 2021, the 45th day. As a result, the Compact is considered to have been approved by operation of law to the extent that it complies with IGRA and existing Federal law. The Compact will become effective upon the publication of noticed in the Federal Register.”
Some pari-mutuel establishments will now be able to close down their racing or jai alai operations and concentrate entirely on casino operations.
Seminole Tribe of Florida Chairman Marcellus Osceola Jr. commented: “Today is a great day for the people of Florida, who will benefit not only from a $2.5bn revenue sharing guarantee over five years, but also from statewide sports betting and new casino games that will roll out this fall and mean more jobs for Floridians and more money invested in this state.”
Senate President Wilton Simpson added: “I thank Governor DeSantis, House Speaker Chris Sprowls and the Seminole Tribe for their hard work and leadership to provide new opportunities for Florida’s legacy pari-mutuel industry, ensure oversight and accountability in gaming and secure billions of dollars in new revenue to invest in Florida’s future.”
Source: GMB / G3 Newswire
