Provides Florida a minimum of $2.5 billion in new revenue over the next five years
TALLAHASSEE, FL (STL.News) Governor Ron DeSantis applauded the Florida Legislature’s ratification of the new gaming compact with the Seminole Tribe of Florida. The Governor’s agreement will generate a minimum of $2.5 billion in new revenue for the state over the next five years and an estimated $6 billion through 2030. The Tribe is not currently making any revenue payments to the state.
“The breakdown of the 2010 compact has denied the state of Florida any revenue derived from the Seminole Tribe’s ongoing gaming operations — including what is the most profitable casino in the United States, located in Hillsborough County. This changes. With this new compact, the state will now see a large stream of recurring revenue to the tune of billions of dollars over the next few years. The deal will also create over 2,000 jobs. I want to thank the Seminole Tribe of Florida Chairman Marcellus Osceola Jr., Senate President Wilton Simpson, House Speaker Chris Sprowls, and the entire Florida Legislature for getting this done for our great state,” said Governor Ron DeSantis.
“The storied relationship between Florida and the Seminole Tribe was strengthened thanks to a historic compact negotiated between Governor DeSantis and the Tribe. The additional revenues of this compact will prove essential as we continue investing in Florida’s future, including in our education, transportation, infrastructure, and environment. I applaud our Governor for renewing this critical partnership for the benefit of our state,” said Lieutenant Governor Jeanette Nuñez.
“This legislation has been a long time coming. I appreciate the hard work of everyone involved, particularly the leadership of Governor DeSantis in bringing the Compact across the finish line. By comprehensively addressing issues raised for almost a decade, this historic Compact restores Florida’s relationship with the Seminole Tribe, offers new opportunities for Florida’s legacy pari-mutuel industry, and provides substantial new revenues for our state,” said Senate President Wilton Simpson.
“I want to congratulate Governor DeSantis for negotiating this historic compact with Chairman Osceola and the Seminole Tribe of Florida that will bring in billions to our state,” said Speaker of the House Chris Sprowls.