Seminoles Set Deadline For Florida Gaming Compact Negotiations

Published on February 18, 2020

Seminol<span id="more-2241"></span>es Set Deadline For Florida Gaming Compact Negotiations

Seminole leader James Billie claims that the continuing state has broken the tribe’s exclusivity deal on banked table games. (Image: Joe Cavaretta/Sun Sentinel)

The Seminole Tribe is ready to play hardball with the continuing state of Florida over the incapacity of state leaders to negotiate exclusivity for the tribe’s gambling operations.

And if the state doesn’t respond soon, the Seminoles say they’re ready to play without them.

Seminole Tribal Chairman James Billie sent a letter to state officials telling them that Florida has 30 days to achieve an agreement that is new the tribe over their exclusive liberties to use banked card games such as blackjack.

The letter had been a very bureaucratically named ‘notice of commencement of compact dispute resolution procedures,’ a process that has been included in the 20-year-compact decided to between Florida and the tribe in 2010.

But while the name associated with procedure may sound innocuous enough, the truth is the fact that this dispute is over major issues and big money on both edges.

Compact Included rights that are exclusive Banked Card Games

When the compact ended up being first agreed to, it included a guarantee that is five-year of over banked card games.

The exclusivity extended to five of the seven casinos operated by the Seminoles; in exchange, the tribe would pay the state at least $1 billion over the five years.

The payments to the continuing state are slated to prevent if anyone else is allowed to offer the games, which led both sides to seek an extension of the agreement.

However the state legislature did not approve a deal during their session early in the day this year, and negotiations between Republican leaders and the tribe have not borne fruit after Governor Rick Scott did not achieve an accord himself year that is last.

According to the letter, the Seminoles think over the exclusivity that they can continue to offer their games even if the state fails to come to an agreement with them.

Moreover, they do say, they would be under no obligation to carry on making payments to the state due to exactly what they believe are violations of that exclusivity agreement.

Electronic Games, Player-Backed Offerings at Issue

At problem are two forms of games that exist at some parimutuel facilities throughout the state. The Seminole Tribe believes that both these games not in favor of the character and the page of their compact.

First, there are electronic versions of blackjack and roulette that have been authorized by gambling regulators and are common at parimutuel locations.

These games operate the same as their table game variations, but use random number generators and are thus categorized as slots.

Additionally a presssing issue with Three Card Poker games that are utilized at some racetrack casinos. The game rather than the house, but the Seminoles say that across the country, player-banked card games are considered to be banked games just as much as any casino-backed game in these games, a ‘designated player’ backs.

The tribe says that these games are enough to split the exclusivity agreement in the compact.

‘ While the tribe could have exercised its right to [stop its payments to the continuing state] immediately, it has so far elected to carry on making its re payments to the state and, as a motion of good faith, promises to continue making its payments to your state pending the resolution of this dispute,’ Billie penned.

While the tribe means well mean to go through along with their threats if a contract cannot be reached, some think that the move is really meant to force the local government to obtain additional seriously interested in negotiating a deal.

‘From a strategy that is legal, it’s a good strategy,’ stated Senate Majority Leader Bill Galvano (R-Bradenton), who helped work on the compact. ‘I disagree with the arguments that they’re making, but it at the very least gives them a procedural methodology to negotiate with the state.’

Betsson Acquires Europe-Bet For $50 Million

Betsson CEO and President Magnus Silfverberg: ‘Together with Betsson’s technology, a foundation for profitable and sustainable growth within and outside Georgia is done.’ (Image:

Swedish on line gambling group Betsson has announced it shall acquire Georgia-based Europe-Bet for US$50 million.

An extra $35 million will likely be paid in 12 months’ time, so long as gambling regulations in the country that is caucasian favorable, the company stated today.

The move shall fortify the business’s strategic existence in the area, explained Betsson CEO and President Magnus Silfverberg.

Because of the deal, Betsson will straight away be the second-largest operator in Georgia, with a 30 % market share, behind Adjarbet.

In 2014 Europe-bet, which offers online and land-based sports betting, as well as internet poker and casino, reported revenues of $52.4 million, $40.8 million (very nearly 78 percent) of which came from its online operations.

New Foundation for Growth

Europe-bet’s online revenues are driven mainly by sports book, accounting for 44 percent of total turnover, but the operation is additionally strong on online casino and poker, that are powered by the groundbreaking Connective Games platform.

Europe-bet’s poker platform is listed by PokerScout as the 19th biggest in the global globe during the time of writing.

Europe-bet recently partnered with the World Poker Tour, receiving licensing that is exclusive as well as on WPT items and services in Georgia.

The deal permitted to host three WPT occasions this season, two nationals and an event that is main, the first of which kicked down in Tbilisi at the start of June.

Europe-bet retains the right to distribute the TV merchandise and show.

‘Europe-Bet has generated a competitive multi-product offering in the locally regulated market of Georgia,’ said Silfverberg. ‘Together with Betsson’s technology, a foundation for profitable and growth that is sustainable and outside Georgia is created.’

Rapidly Developing Market

Georgia is an increasingly well-developed market in present years, and gambling is a significant contributor to state revenues.

Since 2011 this has experienced growth that is huge by 2013, total revenues for Georgia’s gambling operators had been 40 times significantly more than in it was in 2006.

There are up to 100 companies engaged in the gambling business in the national nation, 32 of which are considered to be ‘large enterprises.’ According to the National Statistics Office of Georgia, in 2013 a total of 5046 people were utilized in the gambling business, some 0.3 percent of employed population.

Betsson will get the business from friends of entrepreneurs, a number of whom will stay on in strategic positions under the terms associated with agreement.

The company that is swedish said it will fund the acquisition via a renewal of an existing revolving credit facility of $39 million, as well as a new revolving credit facility of 84 million.

Phil Mickelson Implicated In $2.75 Million Gambling, Money-laundering Case

Is Phil the mysterious ‘PM’ mentioned in a court that is initial, now stricken from the record?

Golfer Phil Mickelson became embroiled in a multi-million dollar unlawful gambling and case that is money-laundering.

The five-time major winner had been named by two sources close to ESPN’s outside of the Lines this week as being a ‘gambling client’ of Gregory Silveira, who may have pleaded guilty to charges of laundering $2.75 million.

In accordance with the Outside the relative Lines sources the laundered cash belonged to Mickelson, although he is perhaps not named in court documents.

Silveira, a 56-year-old former sports handicapper, stands accused of acting as a middle-man between a ‘client,’ now alleged to be Mickelson, and a overseas gambling operation.

He plead responsible week that is last three counts of money laundering and will be sentenced on October 4.

The court heard that in March 2010, Silveira received a cable transfer of $2.75 million from the customer to his bank account.

He proceeded to transfer $2.475 million therefore the remaining $275,000 into two different bank-account, both in his name.

‘Money Laundering of Funds from PM’

‘At enough time, defendant initiated these three transfers with the intent to promote the carrying on of a illegal gambling procedure,’ stated the plea contract, although court documents do not expose if the funds represented wins or losses, or merely money being relocated into a gambling account that is offshore.

According to Outside the relative Lines, an earlier version of Silveira’s plea agreement contained a reference to ‘money laundering of funds from P.M.’

When Outside Lines made inquiries about to whom the initials belonged, the prosecution applied to truly have the initial document stricken from the records as well as an amended version appeared the next day.

It is standard DoJ policy to omit the names of third-parties that are not faced with a crime that is specific.

FBI Research

It isn’t the first-time that that Mickelson’s name has surfaced in connection with alleged financial wrongdoing.

In 2014 he found himself under investigation by the FBI and SEC for alleged insider trading in Clorox stock.

He was cleared of one example, nonetheless it remains unclear whether an extra suspicious event is still being analyzed by authorities.

And like numerous golfers, he’s known to enjoy the odd wager, whether its proposition betting in the program or staking big sums on the Super Bowl in Las Vegas.

In 2001, he got in hot water more than a bet that is friendly Jim Furyk would hole a bunker shot for par during a seven-hole playoff against Tiger Woods within the NEC Invitational. Gambling is really a strict breach of PGA Tour policy.

Both Mickelson and his attorney declined to comment regarding the matter if they were approached by beyond your Lines this week.