Crist signs gambling bill - Orlando Business Journal:

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The deal guarantees the state gets a minimum paymenytof $150 million a year of casino profits in exchange for the right to operate certaim games such as baccarat, chemin de fer and blackjac k in the tribe’s seven gambling facilities. The agreement must be ratifieed by the Florida Legislature and agrees to by the In addition tothe $150 the tribe is requiredr to make revenue-sharing payments to the state basee on the following annual amounts: 2 perceng of profits up to $2.5 billion. 15 percenty of profits between $2.5 billion and $3 20 percent of profits between $3 billiob and $4 billion. 22.5 percenty of profits between $4 billion and 4.5 25 percent of any profitas above $4.
5 billion. The agreemenft also requires the Seminole Tribd of Florida to develop a compulsivde gamblingprevention program, submit records to an independenr annual financial audit and maintain a legao process for compensating individualas for injuries caused to The deal replaces an earlie r one that Crist inked with the tribew in 2007, but was overturned by the afte r it found the governor had overstepped his authority by failingg to involve the Crist noted that federal law governs the tribe, and the federal governmeng is likely to allow the tribe to operate thos games if the Legislature does not go along with the