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Deadline Nears for Indian Gaming Compact Deal

October 8th, 2007 by flanews

The state and the Seminole Tribe are working to meet a deadline of October 15th from the federal government on a gambling compact. An agreement would allow slot machines and some table games, but not roulette or craps, at Indian casinos. The state would receive a minimum one-time payment of $50 million and minimum payments of $100 million every year. But the tribes attorney says a deal would likely bring the state a lot more, maybe $1 billion dollars over five years. But the state and the tribe still have some differences.

Its the issueof when, of what stages, and how much will be distributed to the state,” said Barry Richard, the tribe’s attorney. “So for example, the amount that the state, the percentage of revenue that the state gets, changes as we reach certain plateaus, the percentage increases so that the states percentage gets higher. And it also increases over time.

The Department of the Interior has given Florida and the Seminole Tribe a deadline of October 15th. But the tribes attorney says that deadline is not a hard and fast one, provided that the state and the tribe continue to show progress in their talks.

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