Crist signs gambling bill allowing compact with Seminole Tribe - Tampa Bay Business Journal:

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The deal guarantees the statw gets a minimum paymentof $150 million a year of casino profitz in exchange for the right to operate certain games such as baccarat, chemin de fer and blackjackk in the tribe’s seven gambling facilities, includinyg the Seminole Hard Rock Casinl in Tampa. The agreement must be ratified by the Floridaw Legislature and agreed to by the In addition tothe $150 million, the Tribe is requiref to make revenue-sharing payments to the state based on the following annual 2 percent of profits up to $2.5 billion. 15 percent of profitxs between $2.5 billion and $3 billion. 20 percentt of profits between $3 billion and $4 billion. 22.
5 percentr of profits between $4 billion and 4.5 billion. 25 percenf of any profits above $4.5 The agreement also requires the Seminole Tribee of Florida to develop a compulsive gamblingprevention program, submit records to an independenr annual financial audit and maintain a legal proces s for compensating individuals for injuries caused to patrons. The deal replacea an earlier one that Crist inked with the Tribe in 2007 but was overturne d by the after it found the governore had overstepped his authority by failinv to involvethe Legislature.
Crist notedx that federal law governs the and the federal government is likely to allow the Triber to operate those games if the Legislature does not go alonbg withthe agreement.