Legislation To Rewrite Florida’s Gaming Regulations
Despite the fact that Florida has been a leader in the gaming industry for a long time, there have been many issues that have plagued the industry. The laws and regulations have made it difficult for operators to know how to run their businesses. A mishmash of different laws and regulations have created uncertainty for legislators and operators. This has led to dozens of lawsuits over the past year. Thankfully, the Florida Division of Parimutuel Wagering has acknowledged that the laws are outdated and is preparing to rewrite the industry’s regulations.
The Seminole Tribe of Florida operates the gaming industry in Florida. The tribe runs six casinos in the area. It has invested more than $10 million in PACs in order to protect its compact with the state. The compact will allow the tribe to construct three more casinos in the state. It is expected to generate billions of dollars for the state over the next few years. The compact also authorizes the tribe to offer exclusive parimutuel sports such as craps and roulette. However, the deal is not yet clear and will require federal approval.
In order to protect the compact, the Seminole Tribe has started a political action committee to fund voter initiatives. The group says that the compact is a good move for the industry as a whole. Some gaming companies are against it, but the deal was approved by the governor and the tribe. Several counties have voted to legalize gaming.
The Florida Division of Parimutuel Wagering acknowledges that the laws are outdated, but has spent thousands of dollars defending them. The agency has also allowed slot operators to run electronic roulette in Miami and a one-time race in Hallandale Beach. However, the slot machine market in Jacksonville has been struggling. The Florida Horsemen’s Benevolent and Protect Association recently won a lawsuit against the agency.
The House Republican Leader, Dana Young, is trying to update Florida’s gaming laws. The bill would allow wider gambling throughout the state. It would also create the Florida Gaming Control Commission. This agency would be overseen by the Attorney General’s office. The commission would be responsible for regulating the gaming industry.
While the bill has passed the Senate Regulated Industry Committee, it has yet to be approved by the House. The committee will hold public hearings in four different cities in Florida. This includes the Tampa Bay area, where the Senate’s committee on gambling has studied the area’s market. It is expected that the expansion of gambling will have little social impact, but will have a moderate impact on the economy.
However, the expansion of gambling will be a priority for the industry. According to a University of Florida study, tourists stay longer when they gamble and spend more money. The study also found that the average cash value of a gambler in Florida is $866. While this figure may be low, the study suggests that the number is high.
The Senate Gaming Committee met in Tallahassee to hear preliminary findings. It was expected that the report would be released last week, but it did not. The Senate’s committee has ruled that the report is too confusing. It has also ordered that the report be finished within 30 days.
