Seminoles Set Deadline For Florida Gaming Compact Negotiations

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Seminole leader James Billie claims that the continuing state has broken the tribe’s exclusivity deal on banked table games. (Image: Joe Cavaretta/Sun Sentinel)

The Seminole Tribe is preparing to play hardball with the state of Florida over the incapacity of state leaders to negotiate exclusivity for the tribe’s gambling operations.

And if the state doesn’t reply soon, the Seminoles say they’re willing to play without them.

Seminole Tribal Chairman James Billie sent a letter to state officials telling them that Florida has 30 days to reach an agreement that is new the tribe over their exclusive liberties to operate banked card games such as blackjack.

The letter had been a very bureaucratically named ‘notice of commencement of compact dispute resolution procedures,’ a device that was included within the 20-year-compact consented to between Florida and the tribe in 2010.

But while the name regarding the procedure may enough sound innocuous, the reality is the fact that this dispute is over major issues and a lot of cash on both edges.

Compact Included Exclusive Liberties to Banked Card Games

Whenever the compact was first agreed to, it included a five-year guarantee of exclusivity over banked card games.

The exclusivity extended to five of the seven casinos operated by the Seminoles; in exchange, the tribe would pay the state at least $1 billion throughout the five years.

The payments to the continuing state are slated to avoid if other people is permitted to own games, which led both sides to seek an extension of the contract.

But the state legislature failed to approve a deal during their session earlier in the day this season, and negotiations between Republican leaders and the tribe have not borne fruit after Governor Rick Scott didn’t achieve an accord himself last year.

In line with the letter, the Seminoles believe which they can continue to offer their games even if the state fails to come calmly to an agreement with them on the exclusivity.

Moreover, they do say, they will be under no obligation to continue making payments to the state due to what they believe are violations of this exclusivity agreement.

Electronic Games, Player-Backed Offerings at Issue

At problem are two forms of games which can be found at some parimutuel facilities through the state. The Seminole Tribe believes that both of these games go against the spirit and the page of their compact.

First, there are electronic variations of roulette and blackjack that have been authorized by gambling regulators and are common at parimutuel locations.

These games run just like their table game variations, but utilize random number generators and are thus classified as slot machines.

There is a presssing issue with Three Card Poker games which are utilized at some racetrack casinos. The game rather than the house, but the Seminoles say that across the country, player-banked card games are considered to be banked games just as much as any casino-backed game in these games, a ‘designated player’ backs.

The tribe says that these games are sufficient to break the exclusivity agreement in the compact.

‘ While the tribe may have exercised its right to [stop its repayments to the state] immediately, it has to date elected to carry on making its payments towards the state and, as a gesture of good faith, intends to continue making its payments to your state pending the quality of this dispute,’ Billie penned.

While the tribe means well mean to go through along with their threats if an agreement cannot be reached, some believe the move is really meant to force the local government to obtain more serious about negotiating a deal.

‘From a legal strategy point of view, it’s a good strategy,’ said Senate Majority Leader Bill Galvano (R-Bradenton), who helped work on the compact. ‘I disagree with the arguments that they are making, but it at the least gives them a procedural methodology to negotiate with the state.’

Betsson Acquires Europe-Bet For $50 Million

Betsson CEO and President Magnus Silfverberg: ‘Together with Betsson’s technology, a foundation for profitable and sustainable growth within and outside Georgia is made.’ (Image: linkedin.com)

Swedish online gambling group Betsson has announced it shall acquire Georgia-based Europe-Bet for US$50 million.

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An extra $35 million are paid in 12 months’ time, provided gambling regulations in the country that is caucasian favorable, the company said today.

The move shall fortify the company’s strategic presence in the region, explained Betsson CEO and President Magnus Silfverberg.

As a consequence of the deal, Betsson will immediately be the second-largest operator in Georgia, with a 30 percent market share, behind Adjarbet.

In 2014 Europe-bet, which offers online and land-based sports betting, as well as on-line poker and casino, reported revenues of $52.4 million, $40.8 million (very nearly 78 percent) of which originated from its online operations.

New Foundation for Growth

Europe-bet’s online revenues are driven mostly by sports book, accounting for 44 percent of total turnover, but the operation is also strong on online poker and casino, which are powered by the groundbreaking Connective Games platform.

Europe-bet’s poker platform is listed by PokerScout as the 19th biggest in the globe at the time of writing.

Europe-bet recently partnered with the World Poker Tour, receiving licensing that is exclusive as well as on WPT items and services in Georgia.

The offer permitted Europe-Bet.com to host three WPT events this present year, two nationals and an event that is main, the first of which kicked off in Tbilisi at the start of June.

Europe-bet retains the proper to circulate the television show and merchandise.

‘Europe-Bet has built a competitive multi-product offering in the locally regulated market of Georgia,’ said Silfverberg. ‘Together with Betsson’s technology, a foundation for profitable and growth that is sustainable and outside Georgia is made.’

Rapidly Developing Market

Georgia is becoming an increasingly well-developed market in present years, and gambling is a significant contributor to state revenues.

Since 2011 this has experienced growth that is huge by 2013, total revenues for Georgia’s gambling operators had been 40 times more than in it was at 2006.

There are up to 100 companies engaged into the gambling business in the national nation, 32 of that are thought to be ‘large enterprises.’ Based on the National Statistics workplace of Georgia, in 2013 a total of 5046 individuals were utilized in the gambling business, some 0.3 percent of employed population.

Betsson will find the company from friends of business owners, a few of whom will stay on in strategic positions under the terms of the agreement.

The company that is swedish said it will fund the acquisition by way of a renewal of an existing revolving credit facility of $39 million, as well as a new revolving credit facility of 84 million.

Phil Mickelson Implicated In $2.75 Million Gambling, Money-laundering Case

Is Phil the mysterious ‘PM’ mentioned in a initial court document, now stricken from the record?
(Image:golfdigest.com)

Golfer Phil Mickelson has become embroiled in a multi-million dollar illegal gambling and case that is money-laundering.

The five-time winner that is major named by two sources near to ESPN’s away from Lines this week as a ‘gambling client’ of Gregory Silveira, who may have pleaded guilty to fees of laundering $2.75 million.

Based on the Outside the Lines sources the laundered cash belonged to Mickelson, although he is maybe not named in court documents.

Silveira, a 56-year-old previous sports handicapper, stands accused of acting as a middle-man from a ‘client,’ now alleged to be Mickelson, and a offshore gambling operation.

He plead guilty last week to three counts of cash laundering and will be sentenced on October 4.

The court heard that in March 2010, Silveira received a wire transfer of $2.75 million from the customer to his bank account.

He proceeded to transfer $2.475 million and the remaining $275,000 into two different bank account, both in their name.

‘Money Laundering of Funds from PM’

‘At the time, defendant initiated these three transfers with the intent to promote the carrying on of an illegal gambling procedure,’ reported the plea agreement, although court documents do perhaps not expose whether or not the funds represented wins or losses, or merely money being moved into a gambling account that is offshore.

According to Outside the relative Lines, a youthful version of Silveira’s plea agreement contained a guide to ‘money laundering of funds from P.M.’

When Outside Lines made inquiries about to whom the initials belonged, the prosecution used to really have the original document stricken from the records plus an amended variation appeared the next day.

It is standard DoJ policy to omit the names of third-parties that are not faced with a crime that is specific.

FBI Investigation

It’s not the first-time that that Mickelson’s name has surfaced in connection with alleged monetary wrongdoing.

In 2014 he discovered himself under investigation by the FBI and SEC for alleged insider trading in Clorox stock.

He had been cleared of one example, nonetheless it remains unclear whether a second incident that is suspicious still being analyzed by authorities.

And like many golfers, he is understood to take pleasure from the odd wager, whether its proposition betting regarding the program or staking big sums in the Super Bowl in Las Vegas.

In 2001, he got in hot water over a friendly bet that Jim Furyk would hole a bunker shot for par during a seven-hole playoff against Tiger Woods in the NEC Invitational. Gambling is just a strict breach of PGA Tour policy.

Both Mickelson and his lawyer declined to comment on the matter when they were approached by beyond your Lines this week.