$1 Billion Deal to Provide Blackjack in Florida Casinos Signed

The Seminole tribe of Florida can officially offer blackjack and blackjack variations at five land-based casinos in the state, as the U.S. federal government yesterday signed into law a deal with tribal leaders to provide this gaming through calendar year 2014.

The deal has been years in the making, with two prior agreements made between Florida governor Charlie Crist and the Seminoles rejected during the legislative process. Seminole tribe chairman stated sagely that “Sometimes it takes a long journey to reach your goal, and it means more when you finally get there,” said Mitchell Cypress, chairman of the Seminole tribe.

Reportedly worth $1 billion, the tribe is now allowed to provide blackjack games and other table games such as baccarat, Pai Gow and Caribbean Stud Poker in its five casinos in Florida, including the Hard Rock casinos in Tampa and Hollywood. The Seminoles also get an exclusive deal to provide slot machines in the state except in Broward and Miami-Dade Counties.

The state of Florida will automatically be paid $150 million by the tribal government in the first year of the deal, followed by three years of $230 million-plus payments. The state will also earn extra income on revenues of up to 25% if certain fiscal targets are met by the casinos.

There has been little movement on regulating poker, casino or blackjack gambling online intrastate in Florida, though the Seminole tribe is believed to be investigating the possibility.