Metro Jacksonville

Community => Business => Topic started by: TheCat on December 10, 2015, 11:13:01 AM

Title: Scott Signs $3.1B Gambling Compact
Post by: TheCat on December 10, 2015, 11:13:01 AM
QuoteFar from a sure bet, Gov. Rick Scott's $3.1 billion gambling deal with the Seminole Tribe of Florida is getting a tepid response from some legislative leaders, virtually guaranteeing that the proposal could require major changes to win enough support for passage.

The agreement, signed by Scott and tribal Chairman James Billie on Monday, equates to a major expansion of gambling in Florida, bringing to the state craps and roulette for Seminole casinos and opening the door for slots and blackjack in areas where a previous agreement prohibited the games.

House Speaker Steve Crisafulli on Tuesday said legislative approval, required for the pact to take effect, would be a "heavy lift."
Senate President Andy Gardiner told reporters "there are no guarantees" that lawmakers will sign off on the deal, known as a "compact."
Scott said the compact, months in the making, "is a first step."

Even the Seminoles' chief negotiator, Jim Allen, called Monday's signed contract "the boundaries of an agreement."
Some lawmakers were more dubious about the proposal's future.

"I suspect that this compact is DOA," said Sen. Jack Latvala, R-Clearwater. "Because there are so many issues in it that different people are going to find problems with."

Under the 20-year compact signed Monday, the Seminoles could add craps and roulette to their seven casinos in exchange for $3.1 billion in payments to the state over seven years. The Seminoles could also expand blackjack games, now limited to five of their facilities, to all of their casinos.

The compact would also allow slot machines at the Palm Beach Kennel Club and at a new location in Miami-Dade County. And it would also permit horse and dog tracks to stop racing altogether — known as "decoupling" — while still maintaining card room or slot machine operations.

The agreement would also permit lawmakers to lower the tax rate on slot machines for Broward and Miami-Dade pari-mutuels and would allow those "racinos" to add blackjack, something now limited to tribal casinos, although on a small scale. The racinos would only be allowed to have a maximum of 15 blackjack tables, and bets would be capped at $15.
But, as they once did for slots, voters would have to sign off on the card games for the Miami-Dade and Broward county facilities.

http://www.bizjournals.com/jacksonville/blog/morning-edition/2015/12/seminole-gambling-deal-met-with-scrutiny.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+bizj_jacksonville+%28Jacksonville+Business+Journal%29 (http://www.bizjournals.com/jacksonville/blog/morning-edition/2015/12/seminole-gambling-deal-met-with-scrutiny.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+bizj_jacksonville+%28Jacksonville+Business+Journal%29)