It should be third time lucky for the gaming compact in Florida after the Seminole Tribe and Florida legislators finally agreed terms. Two previous compacts agreed between Governor Crist and the tribe were thrown out by legislators. The new agreement, reached Friday and approved by the Seminole Tribal Council yesterday, will guarantee the state gets US$1.3 billion over the next five years. The compact is expected to be signed today.

The Seminole gaming venues will get the exclusive operation of blackjack, chemin de fer and baccarat at all its casinos, except the ones in Brighton and Big Cypress, and Class III slots. For this the tribe will pay $150 million per year in the first two years of the deal, $233 million for years three and four, and $234 million in the last year of the pact. In the last three years of the compact the tribe will pay 10% of its net revenue to the state, an estimated extra $102 million.

In January, following the rejection of the second compact by the Florida legislators, Governor Charlie Crist observed, "We obviously have a long way to go before the end of session, so there is plenty of time for the Florida Legislature to approve a plan that would direct billions of dollars to Florida schools for years to come." In seems that finally his optimism has been rewarded and a share of Seminole gaming revenue will find its way into state coffers. (E-04.06.10)

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