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Florida Governor Signs Gaming Compact into Law
Florida Governor, Ron DeSantis, has signed a compact that gives Seminole Tribe exclusive sports betting rights in the state. The signed compact will now move to the United States Secretary of the interior. Former POTUS, Donald Trump, is set to get involved in gambling matters again.
Sports Gambling Set to Launch in Florida
Florida’s Senate passed a gaming compact after several adjustments on Tuesday. The agreement then moved forward to the House and was later signed off by the Governor. The agreement received landslide support with 97 supporting and 17 opposing it. However, the launch is still on ice since the DOI (Department of Interior) has to approve it.
If that happens, the Seminole Tribe is set to offer sports betting at its casino bands. Furthermore, Seminole will have the chance to expand its portfolio by introducing craps and roulette at its spots. As a result of the gaming compact receiving a nod, Florida is set to benefit from a $20 billion injection in its economy for the 30 years this agreement will be in effect.
Legal Battle Expected to Challenge The Compact
The compact may be close to receiving approval but a legal battle challenging it is around the corner, Florida voters passed Amendment 3 after its presentation on the ballot in November of 2018. This shutdown gambling expansion talks from the government and reversed it to the masses.
A McLaughlin & Associate survey showed that 76% of voters in Florida want to have the final say in the gaming compact deal. A mere 13% said that the government and state legislature should handle the issue. This anticipated resistance may see the DOI delay its approval.
The public resistance is triggered by the language used in the agreement that could authorize one or more non-tribal casinos. This anticipated public resistance was also put to the Senate’s floor when Anna Eskamani, a Representative, questioned the repercussions of Amendment 3 that meant voters would have the final say when it comes to any form of gambling expansion.
What the Sports Gambling Market Holds for Florida
The gaming compact greenlighted by Florida’s lawmakers also included language set to bar the Tribe from getting involved in Trump National Doral should it get a gambling license. Owned by Donald Trump, former POTUS, and managed by Eric, his son, the property is separated from the Tribe by just 15 miles.
The specifics of the language state that the tribe cannot dispute any casino that is over 15 miles based on a straight-line principle from Hard Rock. This principle will cover Trump’s property as well as the Fontainebleau Miami Beach.
Officials in Miami Dade have expressed their dissatisfaction at having casinos in Florida. In fact, they can dispute a casino license even though the Tribe cannot. Moreover, other stakeholders who believe the government is out of line in terms of Amendment 3 can contest new casino licenses. This back and forth is likely to freeze Florida’s impending multi-billion gambling market for a while.