Deal reached on new Seminole Gaming compact

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Florida legislative leaders and Seminole Tribe negotiators have reached a deal on a new gaming compact.

The deal, which now will go to the full House and Senate for approval, shaves 15 years off the exclusivity window that was present in previous compacts that were not ratified. The tribe gets exclusive rights to deal table games for five years. If state law changes after five years to allow table games elsewhere, the tribe will pay the state a smaller yearly amount for the next 15 years for slots exclusivity. The deal is worth an estimated $1.5 billion to the state.

The deal has little direct effect on poker, as a bill to lift buy-in and bet limits throughout Florida is separate and appears likely for passage and implementation by July 1.