The Seminole Tribe has increased its monthly gambling payments to Florida by 55 percent, with annual payments for the upcoming fiscal year slated to total $233 million.
The tribe's gambling compact with the state is entering its third year, and the contract calls for an increase in the guaranteed minimum payment from the Seminoles' casino operations. The annual minimum was $150 million for the first two years.
Earlier this week, the Seminoles made its first monthly payment under the new provision, transmitting $19,417,000 instead of $12.5 million.
The revenue goes toward the state's general budget fund.
“The Seminole Tribe is pleased to increase its support for public education and other important budget needs in Florida,” James E. Billie, Chairman of the Tribe, said in a press release. “We view the Gaming Compact as a win-win-win, for the State, the Tribe and all the people of Florida.”
The compact allows the Seminoles' seven tribal casinos across the state -- and three in Broward County -- to operate slot machines for 25 years. Some tribal casinos, including the three in Broward, also have table games like blackjack and baccarat for the first five years.
An extension of the tribe's table-game provision will be among the state's looming gambling issues. A possible expansion of gambling in Florida -- including full-blown Las Vegas style resort casinos -- also will be up for debate in Tallahassee.
Any gambling expansion outside the existing parimutuel "racinos" in Broward and Miami-Dade would void the tribe's compact payment obligations, a factor sure to weigh heavily in the resort casino debate.
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