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  Casino News - November 2007
  Florida Pari-Mutuels Launch Attack Against Seminole Casino Compact
 

Florida's pari-mutuels -- including the three who already operate slots in Broward County -- have lost no time in attacking the gaming compact Gov. Charlie Crist signed with the Seminole Tribe, arguing that the state could have collected far more than the $100 million annual payment guaranteed from the tribe.

"Rather than give the Indians an exclusive, let's let everyone compete. The numbers are too low for what the state could be getting," said Jack Cory, who lobbies for the Florida Greyhound Association. "Rather than give the Indians an exclusive, let's let everyone compete."

"The state keeps telling us how they're going to get $100 million-$150 million a year from this deal," said Allan Solomon, executive vice president of the Isle of Capri, which owns the Isle Casino at Pompano Park. "But look at all the potential revenue they're giving up. It doesn't make sense."

The Isle Casino and two other pari-mutuels offering Class 3 slots in Broward County -- Mardi Gras Race Track and Gaming Center and GulfStream Park Racing and Casino -- paid $49 million in state taxes in the 2006-2007 fiscal year when they were not open a full year, according to Division of Pari-mutuel Wagering figures.

"This could have a substantial adverse effect," Solomon said. " I think it could be a very substantial decrease in revenues as a result of the compact."

"That's the worst-drafted document I've ever seen," said Dan Adkins, president of Mardi Gras. "There are so many loopholes and problems. I never saw so many ways out of paying in my entire life."


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