Gambling Compact

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Crist, Seminoles Ask For Reconsideration Of Gambling Compact

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Governor Charlie Crist is not about to end his fight to try and get his gambling compact with the Seminole Indians reinstated. Crist and the Seminoles have asked the state Supreme Court to reconsider their ruling that voided the compact.

The odds of Crist and the Seminoles actually winning the right to a rehearing are slim. It is not often that rehearings are granted. The chances in this case are even less than usual thanks to the unanimous vote by the justices.

The governor and the Seminoles signed a deal at the end of last year that would allow the Seminoles to offer Vegas style slot machines. The deal also allowed the Seminoles blackjack and baccarat at their casinos in the state.

In return for the rights to the expanded gambling, the Seminoles agreed to pay a lofty sum of money to the state up front. They also would have to pay a share of their revenue to the state.

House Speaker Marco Rubio fought hard against the compact. He was offended that he and his fellow legislators were not involved in the decision making process, so they launched a legal battle.

They received a small reprieve when the state Supreme Court voided the compact. In the long run, however, Rubio and other opponents of expanded gambling in the state will come out on the losing end. The Seminoles are now seeking federal help to allow them the same games that were afforded from the compact.

Once they receive the blessing federally, they will once again be operating the various games legally. The only difference will be the state of Florida will then get shut out of the revenue being generated.

New Brunswick, Canada Casino Plans Released By Developer

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If New Brunswick, Canada, was excited about a casino coming to the area before, they will really be amped up after hearing the details. Those details have finally been release4d by developer Sonco Gaming New Brunswick, L.P..

While Sonco will be joined in their casino endeavor, they were the ones that released the details. The casino will be the first one in New Brunswick, and the developers have done their best to ensure that it is special.

Three structures will make up the building. They will be joined on the inside, but will be vastly different in what they offer. One of the structures will be the actual casino floor. Another structure will be a 1,500 seat Palladium convention and entertainment center. The last will be a 128 room hotel.

The current target date for the entire project to be completed is the summer of 2010. It is not yet known if that target date will be hit or not. Las Vegas companies will combine with Canadian companies on the project.

Clairvest and their Clairvest Equity Partners III L.P fund will put up $32 million in equity. They will be the primary ownership interest in the project. They will actually own about ninety percent of the project.

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