Florida Legislature approves Seminole Compact
The Florida Legislature has ratified the new gaming compact Gov. Ron DeSantis negotiated with the Seminole Tribe of Florida.
If approved by the U.S. Department of the Interior, which oversees tribal gambling operations, 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. The Tribe is not currently making any revenue payments to the state.
“The breakdown of the 2010 compact has denied the state of Florida any revenue derived from the Seminole Tribe’s ongoing gaming operations — including what is the most profitable casino in the United States, located in Hillsborough County. This changes today,” DeSantis said. “With this new compact, the state will now see a large stream of reoccurring revenue to the tune of billions of dollars over the next few years. The deal will also create over 2,000 jobs. I want to thank the Seminole Tribe of Florida Chairman Marcellus Osceola Jr., Senate President Wilton Simpson, House Speaker Chris Sprowls, and the entire Florida Legislature for getting this done for our great state.”
DeSantis announced the historic gaming compact between the State of Florida and the Seminole Tribe of Florida in April.
The Department of the Interior has a 45-day window in which to consider the pact.