florida casino news

Legislature To Decide The Final Outcome

florida casino news
Florida casino news

Last month, Governor Ron DeSantis announced a gaming compact between the State of Florida and Seminole Tribe. The previous compact was agreed almost 12 years ago, and it hasn’t been in effect in the last 2 years. 

Although both parties have come to an agreement, the legislature will still have a say about the compact, and pass the final decree. Rather than do a rush job before the regular 2021 legislative session ends April 30th, House Speaker Chris Sprowls has indicated the chambers will adjourn till May 17th. This will give the chambers ample time to go through the 70 page compact. 

Notable aspects of the 2021 gaming compact 

  • It mandates the State of Florida to carry out open negotiations with the Seminole Tribe in the next three years to amen the compact which would amend previous agreements on mobile and online gaming. This is a news that could potentially be one of the biggest expansions of gaming in the US. 
  • Legalize mobile sports betting. The Seminole Tribe will exclusively handle the mobile sports betting affairs, such that licenses will be contracted to sports vendors. However, the wording of the compact means online sports betting vendors might not benefit from it. 
  • State to receive a minimum revenue-share of $2.5 billion spread out in the first five years of the contract. 
  • Greenlight two new casinos on Seminole Tribe property. This will help create a Vegas-style presence that will attract people from various destinations. 

It is still unknown if any part of the compact violates last year’s state constitutional amendment which requires voters to have a say in all gaming expansion. Should the compact be passed as is, there are clear signs that there will be litigation with the state.

 

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