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Online Blackjack News - State and Seminole Tribe Sign Multi Million Dollar Casinos Deal
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Gov. Charlie Crist has made no secret that he wants the state to see a hefty financial benefit from the Seminoles' move to offer some type of Las Vegas-style gambling at its casinos.
But how much the state might get has been kept close as it tries to work out with the tribe just what the casinos would be allowed to offer and what would continue to be illegal.
Federal law allows states to negotiate with tribes to regulate what goes on in their casinos, and allows tribes to offer the state a cut of their revenue as part of the deal.
Seminole Tribe lawyer Barry Richard said Friday that the state and the tribe have agreed in principle on several issues, including a minimum the state would get from the deal.
"The state would receive $50 million at the time the compact is approved. The tribe would guarantee the state a minimum of $100 million a year," Richard said. "The revenue allocation that we've agreed upon, based upon our estimates, would be substantially in excess of $100 million a year."
Another source familiar with the negotiations said that in all, the deal could net the state more than $1 billion over five years.
The amount the state could receive above $100 million a year would depend on what games the tribe is allowed to have at the casinos -- a detail still not fully hammered out. At a minimum, the Indians will be allowed to have slot machines, because they are allowed in Broward County dog and horse tracks and a jai-alai fronton. Federal rules generally allow tribes to offer games that are allowed anywhere else in the state. The Seminoles also could be allowed to offer poker and other table card games, such as blackjack, which could increase the amount of money the state would get. Theoretically, the tribe could pursue all types of gambling, but Crist has balked at allowing roulette or craps, Richard said, effectively taking those type games off the negotiating table.
Richard said he thought a final agreement could be worked out by the end of next week.
Officials in the governor's office declined to confirm the dollar amounts. Crist has said several times that he was reluctant to throw numbers around publicly because his hopes might not pan out.
Crist's chief of staff George LeMieux would only say that if the state doesn't negotiate with the Seminoles, the tribe could begin offering casino-style gambling with the state having no say about the details and getting no revenue.
"The governor has asked me to try to negotiate the best deal possible," LeMieux said.
Richard said there was nothing being discussed that would prevent the Legislature from considering additional gambling -- or changing the way dog and horse tracks are taxed to help them compete with the Indian casinos.
Gov. Charlie Crist has made no secret that he wants the state to see a hefty financial benefit from the Seminoles' move to offer some type of Las Vegas-style gambling at its casinos.
But how much the state might get has been kept close as it tries to work out with the tribe just what the casinos would be allowed to offer and what would continue to be illegal.
Federal law allows states to negotiate with tribes to regulate what goes on in their casinos, and allows tribes to offer the state a cut of their revenue as part of the deal.
Seminole Tribe lawyer Barry Richard said Friday that the state and the tribe have agreed in principle on several issues, including a minimum the state would get from the deal.
"The state would receive $50 million at the time the compact is approved. The tribe would guarantee the state a minimum of $100 million a year," Richard said. "The revenue allocation that we've agreed upon, based upon our estimates, would be substantially in excess of $100 million a year."
Another source familiar with the negotiations said that in all, the deal could net the state more than $1 billion over five years.
The amount the state could receive above $100 million a year would depend on what games the tribe is allowed to have at the casinos -- a detail still not fully hammered out. At a minimum, the Indians will be allowed to have slot machines, because they are allowed in Broward County dog and horse tracks and a jai-alai fronton. Federal rules generally allow tribes to offer games that are allowed anywhere else in the state. The Seminoles also could be allowed to offer poker and other table card games, such as blackjack, which could increase the amount of money the state would get. Theoretically, the tribe could pursue all types of gambling, but Crist has balked at allowing roulette or craps, Richard said, effectively taking those type games off the negotiating table.
Richard said he thought a final agreement could be worked out by the end of next week.
Officials in the governor's office declined to confirm the dollar amounts. Crist has said several times that he was reluctant to throw numbers around publicly because his hopes might not pan out.
Crist's chief of staff George LeMieux would only say that if the state doesn't negotiate with the Seminoles, the tribe could begin offering casino-style gambling with the state having no say about the details and getting no revenue.
"The governor has asked me to try to negotiate the best deal possible," LeMieux said.
Richard said there was nothing being discussed that would prevent the Legislature from considering additional gambling -- or changing the way dog and horse tracks are taxed to help them compete with the Indian casinos.
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| Source:
Blackjack2002 News Staff
| Wednesday, 12 September 2007 |
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