While Florida’s Governor Ron DeSantis has made many wise moves since taking office in 2019, some may have a problem with this recent move keeping sports gambling in the state to only be with the Seminole Tribe of Florida. Signed earlier today, April 23, 2021, the compact between the State of Florida and the Seminoles offers exclusive rights to sports gambling within the state. The compact also offers the Seminoles exclusive rights to Vegas-style casino games at their facilities.
If the compact goes unopposed by the Florida legislature or found unconstitutional, it will edge out all other competitors in the industry. The State of Florida will get a kick-back of all revenue the tribe generates off sports gambling besides the other aspects of gambling the Seminoles and the State have long agreed upon. Each month the State of Florida will receive anywhere from 10 percent to 13.75 percent of revenue generated from sports betting.
The compact includes many “outs” that could cause the deal to collapse, though it is not expected to happen.