The Seminole Tribe of Florida has announced its intention to resume making payments to the state as part of a 30-year deal that includes control over sports betting. According to Jim Allen, CEO of Seminole Gaming and chairman of Hard Rock International, the tribe expects to pay at least $650 million over the next year as part of the 2021 deal, known as a compact. The compact is now in full force, and the tribe is abiding by its terms, Allen said. The deal, signed by Governor Ron DeSantis and Seminole Tribe of Florida Chairman Marcellus Osceola Jr. and ratified by the Legislature, requires the Seminoles to pay Florida about $20 billion, including $2.5 billion over the first five years of the agreement. If sports betting is not in effect, the amount paid to the state each year will decrease by $50 million, ensuring an annual minimum payment of at least $450 million. Two pari-mutuel companies have challenged the sports-betting plan in state and federal court, arguing it violates a federal law and a 201 [+]
Amid a celebrity-fueled launch of new casino games this week, the Seminole Tribe intends to resume making payments to the state as part of a 30-year deal that included giving the tribe control over sports betting.
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