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October 31, 2005

Seminole Tribe seeks buyout of development deal

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The Seminole Tribe of Florida is seeking a buyout of its casino development deal.

The tribe built two highly successful casino resorts with the help of the Cordish Corp. The deal requires the tribe to share 30 percent of hotel and casino profits with Cordish over 10 years.

According to news reports, that amounts to about $1 billion. The tribe would presumably have to pay the amount in order to buy out the contract.

Get the Story:
Seminoles want out of casino profit-sharing deals (The St. Petersburg Times 10/31)

 
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