State economists “zero out” expected revenue from Seminole Gaming Compact

by | Aug 11, 2022

 

  • The Seminole Tribe of Florida has ceased making gaming compact payments to the State of Florida 
  • A federal judge’s ruling killed the compact after finding that certain provisions allowed betting to occur off tribal property
  • State economists released a report on Wednesday zeroing out any expected revenue from the deal
  • More than $463 million was wiped from the state budget this year, and over half a billion has been removed from subsequent forecasts
  • The judge’s ruling is under appeal

After a federal judge invalidated a gambling “compact” between the state and the Seminole Tribe of Florida, economists released a report Wednesday that eliminated hundreds of millions of dollars a year in expected state revenue from the deal.

Florida received $187.5 million from the deal between October 2021 and February 2022, but the tribe discontinued payments in March, according to the report by a panel of economists known as the Revenue Estimating Conference.

“It is currently unknown when or if they (payments) will resume into state accounts,” the report said. “The conference updated the (revenue) forecast to assume that no payments will be received within the forecast horizon.”

In January, the economists had projected that the state would bring in more than $463 million from the deal in the 2022-2023 fiscal year, with the amount steadily climbing to more than $500 million in the 2025-2026 fiscal year.

The deal, negotiated by Gov. Ron DeSantis and approved last year by the Legislature, included allowing the tribe to operate sports betting in Florida. But Washington, D.C.-based U.S. District Judge Dabney Friedrich on Nov. 22 ruled that the compact violated a federal law known as the Indian Gaming Regulatory Act because betting would occur off tribal property. Friedrich’s ruling has been appealed.

2 Comments

  1. Deborah Coffey

    More DeSantis ignorance? Or, just, “I’m a fascist, the laws don’t apply to me?”

    Reply
    • Joseph W Montgomery

      DeSantis brokered a deal with the tribe to pretty much continue with what they’ve been doing and the state gets a half billion dollars a year in return. How exactly is that fascism?

      Reply

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