TALLAHASSEE, FL – The Seminole Tribe of Florida and State of Florida have reached an agreement on a new gaming compact. The agreement will generate the state a minimum of $2.5 billion in new revenue over the next five years and an estimated $6 billion through 2030.
“The Seminole Tribe of Florida is committed to a mutually-beneficial gaming compact with the State of Florida and looks forward to its approval by the Florida Legislature, the Seminole Tribal Council and the U.S. Department of the Interior,” said Marcellus Osceola Jr., Chairman of the Seminole Tribe of Florida. “The tribe wants to express our sincere thanks to Governor DeSantis, Senate President Simpson, House Speaker Sprowls and many others who have worked hard to negotiate a historic agreement that cements our partnership with the state for decades to come.”
“This historic compact expands economic opportunity, tourism, and recreation, and bolsters the fiscal success of our state in one fell swoop for the benefit of all Floridians and Seminoles alike,” said Governor DeSantis. “Our agreement establishes the framework to generate billions in new revenue and untold waves of positive economic impact. I would like to thank Seminole Tribe of Florida Chairman Marcellus Osceola Jr., Senate President Wilton Simpson, and House Speaker Chris Sprowls for their collective commitment to modernizing the gaming industry in the State of Florida and setting the bar for the rest of the nation.”
Most notably, the compact modernizes the gaming industry through the authorization of sports betting in Florida through the tribe. The agreement also provides protections for pari-mutuel operations and the opportunity to participate in sports betting offered by the tribe. By some estimates, sports betting is expected to create over 2,200 jobs for Floridians.