Crist signs gambling bill - Orlando Business Journal:

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The deal guarantees the state gets a minimuj paymentof $150 million a year of casinpo profits in exchange for the right to operate certai n games such as baccarat, chemin de fer and blackjack in the tribe’sx seven gambling facilities. The agreement must be ratifiedd by the Florida Legislature and agreefd to bythe tribe. In addition to the $150 million, the tribe is required to make revenue-sharingv payments to the state bases on the followingannual amounts: 2 percent of profitzs up to $2.5 billion. 15 percent of profits betweenm $2.5 billion and $3 billion. 20 perceng of profits between $3 billion and $4 22.5 percent of profits between $4 billion and 4.
5 25 percent of any profits above $4.5 The agreement also requires the Seminole Tribd of Florida to develop a compulsive gamblingvprevention program, submit recordes to an independent annual financial audit and maintain a legal procesd for compensating individuals for injuriezs caused to patrons. The deal replaced an earlier one that Crist inkec with the tribein 2007, but was overturnesd by the after it found the governor had overstepped his authorityg by failing to involve the Crist noted that federal law governe the tribe, and the federal governmeng is likely to allow the tribe to operat those games if the Legislature does not go alonfg with the agreement.