Jan 7, 2008 6:56 pm US/Eastern
Seminoles' Gambling Compact Clears Final Hurdle
TALLAHASSEE, FL (CBS4) ―
Governor Charlie Crist's gambling deal with the Seminole Tribe of Florida has cleared it's final official hurdle as a notice announcing the deal has been published in the Federal Register.
Upon federal authorization, the Seminole Tribe of Florida transferred $50 million to the State of Florida.
The U.S. Department of the Interior approved the compact that Crist signed with the tribe on December 31st, 2007. The agreement allows Las Vegas style slots and card games like blackjack and baccarat at the Seminole's seven casinos. In return, the state would get $50 million immediately and $100 million guaranteed in the first year. In the second year, the state is guaranteed $125 million and at least $150 million in the third year. Following that, the amount depends on revenues -- but everyone involved in the negotiations said it will quickly add up to billions. The tribe says the new games should ready to go in their casinos in about 6 months.
"Today's transfer of $50 million to the State of Florida is just the beginning of revenue that will potentially provide billions of dollars to Florida's schools during the next 25 years. While the Legislature holds the authority to appropriate these funds, I am confident they will use the power of the purse to improve the quality of life of Floridians for generations to come." said Crist in a written statement.
The compact, however, still has to clear one un-official challenge.
House Speaker Marco Rubio and Senate President Ken Pruitt have challenged Crist's authority to enter into the agreement on his own. The case is scheduled to go before the Supreme Court on January 30th.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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