Three substantial gaming companies, Las Vegas Sands, FanDuel, and DraftKings, have put in almost $37 million into Florida’s 2022 ballots to influence the future of gambling and sports wagering in the State. The gaming companies have been inspired by the massive plans for the Seminole Tribe Gaming Compact signed in Florida.
Another in-state company called the Magic City Casino has created a PARLAY committee (People Against Regulatory Legislation Addressing You) and has contributed $15 million to this committee. But the exact nature of this committee’s campaign is not yet known.
The Seminole Tribe has also invested nearly $10 million to influence gambling legislation in the State through the Voters in Control Inc.
The gambling industry in total has put in nearly $62 million in political campaigns for ballot voting. This sudden influx of investment is due to a new law that will limit the political committee investments of each organization to just $3000 from the 1st of July. As a result, gambling industries are rushing to invest before this new legislation goes active.
Magic City is investing in the 2022 ballots to gain a say in the State’s gambling decisions. DraftKings and FanDuel want Florida State to sign separate exclusive gaming compacts with them. The Seminole Tribe is trying to protect its three-decades-long privileges from competition from other enterprises. The Las Vegas Sands are hoping that their investments will influence the ballots enough to enter the Florida gambling markets.
But the new limit on contributions that these gaming companies were trying to outrun has now been scrapped by a federal judge. But one thing is now inevitable, the considerable investments to impact Florida’s gaming future shows that it has enormous market potential in the gaming industry.