Governor Ron DeSantis recently announced a historic gaming compact between the State of Florida and the Seminole Tribe of Florida. It is anticipated that the agreement will generate a minimum of $2.5 billion in new revenue for the state over the next five years and an estimated $6 billion through 2030.
Governor DeSantis commented that this historic compact expands economic opportunity, tourism and recreation and bolsters the fiscal success of their state in one fell swoop for the benefit of all Floridians and Seminoles alike.
DeSatis went on to say that their agreement establishes the framework to generate billions in new revenue and untold waves of positive economic impact. He thanked Seminole Tribe of Florida Chairman Marcellus Osceala 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.
Marcellus Osceola Jr., Chairman of the Seminole Tribe of Florida said that they are committed to a mutually-beneficial gaming compact with the State of Florida and look forward to its approval by the Florida Legislator, the Seminole Tribal Council and the U.S. Department of the Interior.
He added that the Tribe wants to express their sincere thanks to all those who have worked hard to negotiate a historic agreement that cements their partnership with the state for decades to come.
The agreement will increase the projected revenue to the State of Revenue from the Seminole Tribe from no revenue to more than six billion dollars over the next decade, with a guaranteed minimum of two and a half billion dollars during the first five years.
The compact will modernize the gaming industry with the authorization of Sports Betting in Florida through the Tribe at its+ gaming venues in Tampa and South Florida, including the Seminole Hard Rock Hotel & Casino Tampa. In addition, the agreement provides protection for pari-mutuel operations and a chance to participate in sports betting offered by the Tribe.
It is estimated that sports betting will create more than 2,200 jobs for Floridians.
