The gambling compact signed by Gov. Charlie Crist with the Seminole Tribe would raise about $9.7 million more in its first four years than the proposed compact drafted by the Florida Legislature according to numbers released today by Amy Baker of the legislature's Office of Democraphic Research.
The primary reason: the governor allows all seven casinos to have banked card games while the Legislature's plan, SB 788, would allow only the Broward and Hillsborough casinos to have banked card games. The governor's proposal also freezes the tribe's contribution to the state at $12.5 million per month but that number would climb in the out years because of the expansion of the banked card games. The difference over the four-year period: 1.2 percent.
However, Baker notes, the fact that the legislature would have allowed for more expansion of gambling than the governor's plan -- and an undetermined amount of potential tax revenue -- would have had a net reduction in the tax base.