Seminole Indiants Cuts Blackjack Deal with Florida

Florida lawmakers have signed a deal with Seminole Indians regarding online gaming, as a result of which the Seminoles are permitted to offer slots games and Blackjack games. However, the Seminoles will have to pay an upfront fee as well as part of the annual revenue generated by Blackjack and slots games to the state.

Moreover, the state can re-examine the deal after 5 years. The Seminoles will not have to pay the state part of their gaming revenue if it chooses to ban Blackjack. On the contrary, if the state opts for gaming expansion, the Seminoles will not have to pay the same rates on Blackjack although they will have to continue making the same payments for slots games.

According to the latest deal signed with the Seminoles, the state will no longer receive payments if it regulates online blackjack gaming and if the Seminoles lose their right to operate online gaming sites. The Seminoles can utilize this clause if they observe a 5 percent drop in their profits.

The state of Florida might end up being the loser if certain special circumstances crop up. If the country chooses to regulate and legalize online gaming, Florida lawmakers have to make a quick decision regarding online gaming.

This blog entry was posted on Monday, April 12th, 2010 at 9:53 pm and is filed under Blackjack News.