Seminole Pact On Track

The Florida state legislature is said to be working on final details of a compromise gambling pact that, if approved, could be a win-win situation for the state and the Seminole Tribe.

Details of the compromise reportedly reached by state House and Senate leaders May 6 include the reopening of the Hialeah Park racetrack, the tribe’s Hard Rock casinos keeping their slot machines and card games, parimutuels carrying a lower tax burden and tracks statewide being able to look into adding bingo-style slot machines down the line, according to the Miami Herald.

The deal would give state coffers $150 million per year for 15 years plus another $150 million the tribe has already paid into an escrow account after its previous gambling pact with the governor was voided last year by the Florida Supreme Court.

If approved, the tribe will not be able to reduce the annual $150 million fee paid to the government even if outside competitors get legislative approval for additional gaming.

The pact still needs approval from the Seminole tribal council and the Legislature, the paper said.