Seminole Tribe, 5 Florida Pari-Mutuels Reach Marketing Deals
The Seminole Tribe of Florida has reached marketing agreements with five pari-mutuels in the state as it prepares for the launch of sports betting.
The pari-mutuels will promote Hard Rock Sportsbook at their facilities and to customers, according to a news release. The pari-mutuels will receive 60% of the profits generated from the marketing.
The tribe said in the release that marketing agreements with additional pari-mutuels in the state could be announced soon.
The five pari-mutuels that have reached agreements with the tribe are:
- Palm Beach Kennel Club in West Palm Beach;
- Hialeah Park Casino in Hialeah;
- Ocala Gainesville Poker and Ocala Breeder's Sales Co. in Ocala;
- Tampa Bay Downs in Tampa;
- TGT Poker & Racebook in Tampa.
Pari-mutuel agreements are included in the gaming compact between the state and the Seminoles that was signed by Gov. Ron DeSantis and Seminole Tribe of Florida Chairman Marcellus Osceola Jr. The U.S. Department of the Interior allowed the compact to go into effect in August by not taking a stance on it.
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The compact went into effect on Oct. 15, but still faces two lawsuits and no date has been set for the launch of sports betting in the state. Another lawsuit was dismissed recently by a federal judge in Florida. Oral arguments in the two remaining lawsuits are scheduled for Nov. 5.
The agreements with the pari-mutuels are a step toward the market going live in Florida.
"Today's announcement follows through on the Tribe's commitment to include pari-mutuel marketing partners in Florida sports betting. They are an important component for the coming launch of sports betting throughout the state of Florida," Jim Allen, CEO of Seminole Gaming and chairman of Hard Rock International, said in the release. "We have already exceeded the Compact's requirement for a minimum of three pari-mutuel agreements and we look forward to developing more relationships with pari-mutuels around Florida."
State to See at least $2.5B
The compact guarantees the state a minimum of $2.5 billion in revenue sharing over the first five years. According to the news release, the first monthly revenue-sharing payment was made by the tribe this month — $37 million.
DeSantis said the compact “brings together Florida pari-mutuel businesses from across the state in a creative partnership with the Seminole Tribe providing increased access to safe and transparent sports betting in Florida.”
“Today's announcement is a great success for the state and the Seminole Tribe, and I look forward to the announcement of additional partnerships to come," he said.