Seminoles offer state big bucks
September 08, 2007
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The Florida Sun-Sentinel newspaper has reported that the Seminole Tribe of Florida has offered the state $50 million up front and at least $100 million a year in exchange for the right to have Las Vegas-style slot machines, blackjack and baccarat, and could possibly expand its operation in Coconut Creek, about 10 miles from Pompano Park, in the future.
The state of Florida is negotiating for an agreement with the Seminoles. The Sun-Sentinel story said that under the latest proposal made by the Seminoles to the state, the state would receive a percentage of the seven tribal casinos\' revenue with the Seminoles guaranteeing a minimum annual payment of $100 million.
The Suni-Sentinel story said the tribe has averaged an annual profit of more than $500 million from its gambling operations statewide since opening its Hard Rock complexes near Hollywood and Tampa.
To read the entire Sun-Sentinel story, click here.