The Seminole Tribe of Florida, one of the three federally recognized Seminole entities, is currently in negotiations with state Legislature so as for its gambling agreement to be renewed.
The tribe has a five-year compact with Florida, under which it annually pays the amount of $1 billion, in order to be able to provide blackjack as well as other table games on the territory of the state. Moreover, Seminole venues located in the southern part of Florida are the only ones that offer slot machines to their visitors.
The current compact, however, is set to expire on July 21. If Legislature and tribe officials do not reach an agreement before that date, the Seminoles will be deprived of their exclusive rights to provide the above-mentioned services.
It was announced that House Republican Leader Dana Young (R-Tampa) submitted a bill that would permit the construction of two more hotel and casino resorts in South Florida and a slot parlor in Palm Beach County. Yet, the proposal did not suggest that the gambling venues would be owned and operated by the Seminoles.
Yesterday, the current spokesman for the Seminole Tribe, Gary Bitner, shared with media that if the compact in question gets its renewal, another hotel will be built next to the already existing one at the Seminole Hard Rock Hotel & Casino in Hollywood. The venue will feature as many as 1,000 rooms.
The Seminoles have demolished several of their restaurants at the Seminole Paradise venue. However, they stated that an announcement will be made only after they get an approval from the tribal council. And an approval will not be given before the compact is renewed.
Reportedly, last year, Florida Governor Rick Scott and tribal officials were really close to submitting a proposal to the state Legislature for a seven-year extension of the current compact. It was not backed by the majority of legislators, however, and the Governor decided to withdraw his support.
Back on Monday, James Allen, the current CEO of the Seminole Tribe, shared plans for an expansion of their business that would cost them the amount of $1.6 billion. Yet, he pointed out that the project will be carried out, only if the compact is renewed.
The Seminoles have been expressing their disapproval of the potential introduction of Las Vegas companies and Asian gambling operator Genting Malaysia Berhad to the state market. Tribal officials argue that the money from their casinos is contributed to local economy. On the other hand, the money generated from companies that are not headquarered on the territory of the state will take the money out of it.
