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Florida Gov. Rick Scott signs new gambling compact with Seminole Tribe

After months of negotiations, Gov. Rick Scott quietly signed a compact with the Seminole Tribe late Monday that will generate nearly $3 billion in added revenue to the state over seven years in exchange for the exclusive right to operate blackjack and add craps and roulette.

The 20-year deal also allows the Legislature to open the door for parimutuels to operate new slots casinos in Miami-Dade and Palm Beach counties and allows the existing South Florida racinos to seek voter approval to operate limited blackjack tables.

"With a $3 billion guarantee (over the first seven years) along with a cap on the tribe's gaming, it is my hope that this compact can be the foundation of a stable and predictable gaming environment for the state of Florida," Scott wrote in a letter to House Speaker Steve Crisafulli and Senate President Andy Gardiner on Monday. "My execution of this compact is the first step in the process outlined in law, and I look forward to continuing to work with you and your respective chambers this session in order to ratify this $3 billion historic agreement."

The agreement must now win approval from the House and Senate, which are required to ratify the deal. The lead negotiator for the Senate said Monday that he was optimistic.

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But the measure also opens the door to expanded gaming, especially in South Florida, where the Malaysian company Genting has said it wants to build a full casino resort on Biscayne Bay on the former site of the Miami Herald building. Under the compact, the tribe would continue to make payments even in the face of increased competition from a new Miami or Broward slots casino. The Fontainebleau in Miami Beach is also likely to compete for the slots license.

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http://www.tampabay.com/news/politic...-tribe/2256887