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State Gambling on Gaming Compact to Increase Revenue

December 16th, 2008 by flanews

A broken compact between the Seminole Tribe and Florida is depriving the state of millions of dollars. Lawmakers have formed a select committee in hopes of reaching a new agreement, but as Whitney Ray tells us, this go round, other casino owners want a piece of the action.

Hear it Here: State Gambling on Gaming Compact to Increase Revenue

In July the Florida Supreme Court ruled the governors compact with the Seminole Tribe void. Despite the ruling, blackjack and full blown slots continue. Floridas Chief Financial Officer said the state is missing out on millions.

Its an opportunity for the state to get 300 million dollars to help us close this 2.2 billion dollar deficit that we have, Sink said.

Lawmakers have formed a committee in hopes of reaching a new agreement with the tribe.

Representative Bill Galvano will help negotiate the deal. He said deciding how much money to collect isnt the only obstacle the state has to tackle.

It cant be driven solely by fiscal incentive. There are bigger issues out there. What are the relationships between the branches of government and how do we deal with this type of thing in the future, said Galvano.

A coalition of horse and dog track executives says the original compact hurt their business.

All we want is fairness and equity, said Barbara Havenick, President of Flagler Greyhound Racing and Poker

The track owners wont say specifically what they want, but as the negotiations continue, Florida is leaving millions on the table.

While some say a new compact with the Seminole Tribe could generate up to 300 million dollars a year, the South Florida Gaming Coalition says changing the states gambling laws for all casinos could raise twice as much.

Posted in Charlie Crist, Economy, Gambling, Legislature, State Budget, State News | No Comments »

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