Crist, Seminole Tribe formally announce gaming agreement

Gov. Charlie Crist and leaders from the Seminole Tribe announced agreement on a new gaming compact today with blessings from state lawmakers eager to budget an initial windfall for the state of about $435 million.

The deal "ramps up" payments the years following, making it worth $1 billion to the state over five years. Crist, the Legislature and tribal council must still formally sign off on the agreement for it to become law.

This is the third time that Crist and the tribe have agreed on a gaming deal, but the first time that House and Senate lawmakers endorsed the terms in advance.

The agreement would legalize banked card-room games like blackjack at five of the Seminoles' seven casinos, including the Hard Rock Hotel & Casino in Tampa, where the games are already operating.

This year's initial payment would combine the tribe's past payments to the state for games already in operation -- money that's currently in trust, and available only when a new compact takes effect - along with a new annual payment of $150 million. All told, it adds up to about $435 million in a year when lawmakers are carving up the state budget to stave off a deficit of more than $3.2 billion.

The state Senate has already included money from the compact in its spending plan for the fiscal year beginning on July 1, but the House will not until the deal is final. The tribal council is expected to approve the deal formally Tuesday, while the House's main committee on compact negotiations will take it up later this week. The Senate is likewise expected to act swiftly to ratify the proposal.

"The point is the children of Florida, and education in our state, and being able to have at our disposal hundreds of millions of dollars - particularly for education, at a time when we need it so significantly," Crist said.

In the past, compact negotiators have designated the money as education funding. On Tuesday, however, the House's main compact negotiator, Republican Bill Galvano of Bradenton, said the forthcoming compact will not specify how the state must spend the money. That decision, he said, will be left to the Legislature.

Senate budget chief JD Alexander, R-Lake Wales, said he would support using the money this year for education.