Seminole Tribe to Start Payments after Casino Game Launch
LISTEN TO THIS ARTICLE:Following the recent launch of new casino games in the Seminole Hard Rock Hotel & Casino Tampa, Florida, the Seminole Tribe says they will begin making payments to the state. The payments are part of a deal known as The Compact signed in 2021 by the Seminole Tribe of Florida and representatives of the state.
Craps, roulette, and sports betting are now available at the Seminole Hard Rock Hotel & Casino and throughout the six Seminole gaming venues in the state, including Seminole Casinos in South Florida and the Seminole Hard Rock Hotel & Casino Hollywood. Senior figures at the Tribe said they felt the classic games made the venue feel more complete than traditional brick-and-mortar casinos.
There were many celebrities present at the launch at the casino venue, including Gloria and Emilio Estefan, Jon Bon Jovi and Bruno Mars, Dwyane Wade, and Hulk Hogan.
The compact is now back in full force, and the tribe is abiding by the full terms of the compact, It’s certainly our intention to comply with the compact in our relationship with the state. Obviously, we’re just launching all this stuff today.
Compact Revenue Expected to Be $20 Billion
The Compact agreement was signed in 2021 by US Governor Ron DeSantis and the Seminole Tribe in a deal covering three decades and was later passed into legislation. Under the terms of the deal, the Seminole Tribe will pay Florida $20 billion, with $2.5 billion in the first five years for exclusive gambling rights in the state.
Included in the agreement was a caveat that stated that if online sports betting is not live in the state, then a figure of $50 million would be removed from the compact payment each year.
There has been legal opposition to the Seminole Tribe agreement as two gaming operators tried to block to launch of online sports betting in Florida. The U.S. Supreme Court has allowed online sports betting to continue, which has meant the Seminole Tribe will start making the Compact payments.
Related: Seminole Tribe Announces Grand Florida Gaming Expansion
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