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Florida Moves Closer to Gambling Expansion

Florida Moves Closer to Gambling Expansion

A gambling expansion bill in Florida has cleared the Senate Regulated Industries Committee suggesting that the state may finally be moving closer to enjoying expanded gambling.

The 112 page bill would bring a number of changes to the industry. Two slot casinos would be allowed in Miami-Dade and Broward counties. Slot machines would also be allowed in eight more counties across the state and tax on slot machines would be lowered from 35% to 25%. Furthermore, the casinos in Miami-Dade and Broward counties could have 25 blackjack tables each.

The Seminoles tribe would be allowed to have blackjack at all of their casinos in exchange for $3 billion to the state over the next seven years. Racetracks in the state would also be able to decouple their offerings and end live racing. Daily fantasy sports regulation is another provision in the bill.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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