Florida has settled its longstanding feud over gambling rights with the state’s Seminole Tribe, for the time being, at least.
On Wednesday, state regulators announced they had reached a deal with the Seminoles, who operate the state’s brick-and-mortar casinos under the Seminole and Hard Rock brands. The parties claim this resolves the lawsuits that the two sides have filed against each other in recent years over who has the right to offer certain types of gaming in the state.
The deal extends the Seminole’s monopoly over blackjack and other house-banked card games to 2030 while requiring the state’s pari-mutuel racing and card room operators to cease offering so-called ‘designated player’ games that are house-banked games in everything but name.
In exchange, the Seminoles will continue making monthly revenue-sharing payments to the state. Ever since the parties went to the mattresses a couple years ago, the tribe had been paying the state’s share into an escrow account, which now contains $220m. The deal allows the state to access these funds, plus a further $120m over the next fiscal year.