State Licensed Resort Casinos May Come To Florida

March 12th, 2010 – By Glen

The issue of casino gambling has been a hot topic in Florida’s legislature for many months, and the most recent discussion in the state is over the possibility of eight “mega casinos” in Florida.

Casino developers based out of Las Vegas have pitched a plan at a panel from the Florida House, designed to show the possibilities of the luxurious casinos that would include incredible hotel rooms, performance shows, and spa treatments.

Las Vegas Sands has been a primary player in these discussions, and they have asserted that Sands is set to provide a “meeting and convention based model” rather than one for gambling.

These facilities are likely to be based in south Florida, where they would have to compete with the gambling market already supplied by the Seminole Tribe. The Seminole Tribe has thus far failed to reach an agreement with the state.

The Florida Legislature’s chief economist, Amy Baker, has predicted that Florida could handle up to eight resorts such as the one modeled by Las Vegas Sands. The analysis was not to the tune that Sands was hoping for, as the tax rates would be significantly higher than they hoped for. Sands insists on a 10% tax rate on an investment of over $2 billion dollars, while the state would require a 35% tax rate.

The compact with the Seminole Tribe, who hosts casinos on their reservations, had been shot down. Though Crist managed to fill $400 million dollars of the $3 billion dollar budget deficit, legislators had not approved the deal.

The easiest, and most diverse, form of casino gambling in the state of Florida is currently found through Florida Online Casinos. These casinos come fully loaded with every imaginable table games, as well as many of the slot themes found in these land based casinos. Furthermore, it is likely that North Florida will be left out of the casino gambling scene.

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