Seminole Florida Poker Law Goes Official
Written by Roger S | Wednesday, July 7th, 2010
Seminole Tribe was published today in the state’s Federal Register. As such, the multi million dollar deal is considered finalized in every sense of the word.
“The members of the Seminole Tribe want to thank U.S. Secretary of the Interior Ken Salazar for approving our Gaming Compact with the State of Florida,” said the Chairman of the Seminole Tribe, Mitchell Cypress in a statement today. “Sometimes it takes a long journey to reach your goal, and it means more when you finally get there.”
The Federal Government was required to give its final approval of the agreement that was reached between Florida’s lawmakers and the Seminole tribe that essentially saw the expansion of gambling and poker in the state.
It is believed that the brokered deal will see Florida earn more than a billion dollars over the next five years in payment from the Tribe.
The official signing off by the federal government on this gambling legislation led many to breathe a sigh of relief, with it being the third gambling deal between Governor Crist and the tribe. The first deal was thrown out by the state Supreme Court, while the second was subsequently rejected by the Legislature.
The new approved bill will allow the Seminole to offer blackjack, poker and other card games at their five casinos in the state until 2014. They are also allowed to offer slots in counties where voters approved the move, namely Broward and Miami-Dade.
According to the terms of the deal, the Seminole tribe will fork out $150 million to the State of Florida next year, $233 million in the two years following and $234 million in the final year of the deal, 2014.
Another clause of the bill was that if the tribe sees an increase in profits, the state will be entitled to demand up to 25% extra in revenues.
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· Written by Roger S · Filed Under Poker Gossip · Comments Off
