Ka-Ching! Senate OKs Gambling Compact

The Senate approved a long-awaited gaming compact Thursday that expands gaming rights at Seminole casinos and nets at least $1 billion for the state.

Senators voted 29-9 in favor of the compact, moving it quickly past the floor. The compact still needs to pass the House and be signed by the governor to be passed into law.

The 20-year-deal, reached with the Seminoles on Good Friday, gives the tribe the right to blackjack, chemin de fer and baccarat for five years at five casinos in Tampa, Broward County and Immokalee, with the possibility for renewal after the five-year term expires.

The deal also allows all of the states Seminole casinos to continue use of Class III slot machines for 20 years.

It includes benefits for some pari-mutuels -- Floridas dog and horse tracks and jai alai frontons.

It allows for pari-mutuels to have 350 video bingo or historic racing machines at their facilities. A Senate bill by Dennis Jones, R-Orlando, also requires that the Legislature authorize longer cardroom hours at pari-mutuels and allows them to switch from weekly to monthly license taxes. For more information, return to Sunshine State News this afternoon.