FLORIDA GAMING COMPACT CLEARS THE WAY FOR ONLINE SPORTS BETTING
Florida expects to generate as much as $6.0bn from gaming over the next decade through a new compact with the Seminole Tribe of Florida.
The compact is valid for a 30-year term and gives the Seminole Tribe the right to operate slot machines, table games, sports betting, fantasy sports, raffles and draws, and any new game authorised by Florida law.
This includes wagering while physically present at one of the seven existing gaming facilities on tribal lands in Florida, and online sports betting and fantasy contests through servers located on tribal lands, with the state receiving at least $2.5bn during the first five years of the compact.
“This historic compact expands economic opportunity, tourism, and recreation, and bolsters the fiscal success of our state in one fell swoop for the benefit of all Floridians and Seminoles alike,” said Florida Governor Ron DeSantis.
“Our agreement establishes the framework to generate billions in new revenue and untold waves of positive economic impact. I would like to thank Seminole Tribe of Florida Chairman Marcellus Osceola Jr., Senate President Wilton Simpson, and House Speaker Chris Sprowls for their collective commitment to modernizing the gaming industry in the state of Florida and setting the bar for the rest of the nation.”
“The Seminole Tribe of Florida is committed to a mutually-beneficial gaming compact with the State of Florida and looks forward to its approval by the Florida Legislature, the Seminole Tribal Council and the U.S. Department of the Interior,” added Marcellus Osceola Jr., chairman of the Seminole Tribe of Florida.
“The Tribe wants to express our sincere thanks to Governor DeSantis, Senate President Simpson, House Speaker Sprowls and many others who have worked hard to negotiate a historic agreement that cements our partnership with the state for decades to come.”
The compact also allows the Seminole Tribe to partner with a platform provider for sports betting and enables the state’s pari-mutuel wagering operators to participate in the new activity as agents of the tribe.
It will also allow the tribe to renegotiate with the state 36 months after the effective date of the compact to allow all covered games to be made available through the internet.
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