Quote:
Originally Posted by white_lytning
I think a destination casino will be approved for South Florida with a few restrictions. I don't think they will be able to begin play until after 2015 so the state has time to renegotiate with the Seminoles and doesn't lose that money in the short term and I doubt they will be able to run all the games a real casino does, similar to what the Seminoles have now. Instead the state will give the Seminoles exclusivity over types of games like craps and roulette that the destinations won't be able to run for additional payments in an amended compact.
Considering the increase in state revenues projected in the Gambling Impact Study from full-blown casino resorts in S FL, I don't see much advantage to the state to renegotiate exclusivity for the Seminoles for table games. Slot revenues will continue to come in to state coffers beyond 2015 from the Seminole casinos outside S FL under the current compact so long as the parimutuels or other casinos don't get slots (which is why I think that issue would go to voter referendum).
Also, there won't be any need to delay resort casinos until after 2015 as S FL Seminole revenue-sharing continues until the first gaming goes live at a non-Indian casino, so the loss of state revenues there would be offset or exceeded by the new casino revenue taxes. Construction time for the casinos would take it into 2015 in any case.
To make it all work (i.e., increase state revenues), I think they have to go for more than just one destination resort. Three is probably the magic number, all in S FL. They could generate much more state revenue by allowing more such casinos across the state, but I think that wouldn't get approved by the legislature as it is just too much gambling expansion. A destination resort zone in S FL can be seen as mainly a service industry to non-state residents, including non-gaming services (conference, entertainment, etc.). By contrast, casinos in other parts of the state will serve mostly local residents.