Seminole Tribe's Gaming Payments to State Near $500 Million

The Seminole Tribe of Florida announced Tuesday it is one payment away from the $500 million mark in gaming compact payments made to the state of Florida.

The tribe surpassed $490 million with today's payment, an automatic transfer of $12.5 million.

The next scheduled payment, on Dec. 15, will push the total to $502.9 million.

These are real dollars that have helped to fund the state budget, including millions of dollars for the education of Floridas children.This money is in lieu of tax dollars that Floridas residents and businesses have not been forced to pay," said Seminole Tribe of Florida Chairman James E. Billie.

Billie and the Seminoles earlier this month announced their opposition to a casino bill that would authorize up to three "destination" casinos in Broward and Miami-Dade counties.

If approved, House Bill 487 would end the tribe's exclusive rights to Las Vegas-style slots and banked card games, and would absolve the tribe of making future payments to the state under the 20-year compact.