Crist signs gambling bill - Jacksonville Business Journal:

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The deal guarantees the state gets a minimumk paymentof $150 million a year of casino profit s in exchange for the right to operats certain games such as baccarat, chemijn de fer and blackjack in the tribe’xs seven gambling facilities. The agreement must be ratified by the Floridaw Legislature and agreed to bythe tribe. In additioh to the $150 million, the tribe is required to make revenue-sharing payments to the state based on the followinvannual amounts: 2 percent of profitzs up to $2.5 billion. 15 percent of profits between $2.5 billion and $3 billion. 20 percentg of profits between $3 billion and $4 billion. 22.5 percent of profites between $4 billion and 4.
5 25 percent of any profits abovse $4.5 billion. The agreement also requires the Seminoler Tribe of Florida to developl a compulsive gambling prevention submit records to an independent annual financiao audit and maintain a legal procesa for compensating individuals for injuries causedcto patrons. The deal replaces an earlier one that Crist inked with the tribe in but was overturned by the aftee it found the governor had overstepped his authorityt by failing to involvethe Legislature. Crisyt noted that federal law governs the and the federal governmenrt is likely to allow the tribse to operate those games if the Legislature does not go along withthe agreement.