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Florida Legalizes Two Casino Games
November 14, 2007. The Seminole Indians and Florida Governor Charlie Crist have come to an agreement Wednesday allowing Floridians to play baccarat and blackjack in the seven casinos owned by the Seminoles in Florida.
The pact, which is good for twenty-five years, is the much-awaited response to the request of some people to have baccarat and blackjack in Florida.
Under the newly signed agreement, the Seminole Indians are given the right to incorporate baccarat and blackjack in their seven existing casinos in Florida.
Other than that, the Seminoles will also be allowed to put up slot machines with Las Vegas style in the said seven casinos.
The compact also stipulates that the Seminole Indians will have to pay the state of Florida with a one-time payment of $50 million.
Regarding the expected revenue, the Seminole Indians have also agreed to allocate up to twenty-five percent of their potential annual revenues to be derived from the new slot machines and card games and remit them to the state.
Additional stipulation includes that the state is guaranteed 25% if the revenue will be $4.5 billion.
Speaker of the House Marco Rubio has called for an immediate legislation for the deal as he wants the State and the Seminole Indians to sign a contract as soon as possible and make it binding to both parties.
According to him, the House have already signaled their lawyers to make a second look at the compact made by the two contracting parties and possibly come up with the next appropriate legal steps.
Tuesday, December 25, 2007