Key Takeaways
- The historic deal represents “the largest revenue share guarantee in history.”
- Within the new deal, both parties acknowledge that internet gambling is currently illegal under state law, and any future implementation of igaming would cause guaranteed minimum payments by the tribe to the state to halt.
- A provision in the deal would allow state lawmakers to decouple pari-mutuels from the current requirement of offering live racing in order to offer poker and slots.
Following the expiration of the previous deal earlier this summer, Florida Governor Rick Scott agreed to a new 20-year compact with the Seminole Tribe of Florida this week that includes a minimum of $3 billion revenue for the state.
The historic deal represents “the largest revenue share guarantee in history,” according to Scott, and it is triple the guarantee of the prior compact.
