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Florida's Gambling Business Faces New Reformation

27 May 2021, 16:15
Votes: 1

This Tuesday, Florida Governor Ron DeSantis has legitimized several significant measures affecting gambling activity. Under the new legal agreement between the state legislature and the Florida Seminole Tribe, the state should receive $2.5 billion from the tribe. This deal will be valid for the next 30 years, and the tribe will have to pay the mentioned amount within the first 5 years.

Florida's Gambling Business Faces New Reformation

Besides that, the Seminoles have agreed to additional sports betting requirements. These provisions oblige the tribe to partner with several pari-mutuels within the first 3 months after sports betting launching. Moreover, Seminole will be able to launch betting events no earlier than October 15th.

New gaming regulator and even more legislative changes

One of the governor’s new regulations also initiated the creation of a special gambling regulator. The so-called Florida Gaming Control Commission will include five members. DeSantis will appoint these employees for a four-year term.

Another law may disappoint live gambling events’ enthusiasts. The thing is that this measure will allow the pari-mutuel operators to change business priorities and abandon the horse races. Besides that, they will also be able to abandon the jai alai sports and focus on more profitable card rooms. As for the slot machines, operators will be able to use them in two counties only - Miami-Dade and Broward.

Read more: How has the Baltic gambling industry’s regulation changed recently?

Read more: What do experts say about the German gambling market?

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