Florida could move from the “no” into the “yes” column on sports betting. Maybe. A new compact with the Seminole Tribe would incorporate sports betting into the mix of games permitted in the Sunshine State. 
Gov. Ron DeSantis (R) is keeping the details close to his vest—and the clock is running fast on legalization, but it’d be a big step forward and open a lucrative new market. Florida parimutuels and sports arenas could offer sports betting under the compact, albeit with the Seminoles acting as a “hub” for wagers. By putting the Seminoles at the heart of the sports-betting hub and spoke system, placing the betting effectively on tribal lands, it would circumvent the recent restriction on new gaming without voter approval (a restriction that, ironically, the tribe strongly supported). The deal would run for 31 years, 11 more than the compact signed by previous Gov. Rick Scott (R) in 2010. Under that pact, the Seminoles pay the state $200 million a year for the first five years.
DeSantis doesn’t seem to be affected by the fast-running hourglass. “We’re going to meet with people from the Seminole Tribe. I want to meet with the pari-mutuels that are obviously affected by it and talk to folks to see what their deal is with all this,” he said vaguely. “But this is a major, major deal. When you talk about a 31-year deal, that’s not something to be entered into lightly.” The danger is that DeSantis could bring so many parties with conflicting agendas into the discussion that sports betting gets scuppered—and millions of dollars in revenue sharing along with it.
* It will take more than an opinion letter from Rod Rosenstein to get the Justice Department out of the morass it has created by outlawing online gambling. An analysis by The Associated Press finds that “states 
stand to lose over $220 million in net profits annually if the Justice Department zeroes in on single tickets sold online or more than $23 billion if the agency takes a broad interpretation that would prohibit all lottery-related activities that use the internet, including popular games like Powerball.” It would blow a $224 million hole in the state budgets of Michigan and Pennsylvania, among others, leaving public schools and elderly citizens out in the cold.
Given the structure of the Internet, payment processing and backup systems cross state lines, meaning that Rosenstein has wreaked havoc with his contention that all interstate Internet gaming transactions are verboten. (The Justice Department claims that Sheldon Adelson‘s clammy influence played no role. And if you believe that, let me sell you this dandy new bridge in Brooklyn.) “I can’t bring myself to believe they’d stop Powerball and Mega Millions. It’s beyond my comprehension they’d allow that to happen but that’s what the law is 
saying, any betting data that crosses state lines is not allowed. And those are some of the larger revenue sources for Delaware, especially when the jackpots are high,” said the state’s lottery director, Vernon Kirk. States that were going to bring their lotteries online, like Massachusetts and Connecticut, are now likely to stay their hand.
Businesses crave certainty and the Rosenstein opinion leaves them with chaos. “It’s like trying to run a business and not knowing the rules about it,” complained North American Association of State & Provincial Lotteries Executive Director David Gale.”That clarity is the important thing to us now as far as the DOJ issue goes.” Needless to stay, the shortfall becomes a multi-billion-dollar mess if the Justice interpretation of the Federal Wire Act is upheld in court. Rosenstein may have stepped in it but it’s the states that will be hurting because of his blunder.
* Struggling Del Lago Casino in upstate New York is downsizing its slot floor by 15%. It’s trying to disguise the move as a preparation for the advent of as-yet-unlegalized sports betting in the Empire State. “Del 
Lago Resort & Casino looks forward to working with our DraftKings partner to offer sports gaming for our customers,” said spokesman Steven Greenberg unconvincingly. “Once construction is complete we will likely increase [gaming capacity] again.” Using what for space? 300 slots and 14 tables are coming out, in hopes that sports betting is coming in. Quoth the New York Gaming Commission, “Staff found that the capital investment made exceeded that which was required, that slot utilization data illustrated an overabundance of slot assets exposed for play.” In other words, Del Lago was caught with its pants down.
Also cutting back on its slot inventory was Resorts World Catskills, unplugging 26% of its machines. Tioga Downs junked 50 slots. Only Rivers Casino in Schenectady is holding fast. Only Tioga Downs was around the desired industry average of $200/win/slot/day.
Resorts World was last with $122/slot/day. At least three of the casinos are victims of financial projections described as “rosy.” The situation at Resorts World is so dire that Genting Group closed its sparsely played Monticello Raceway racing and its 1,100 VLTs. (Harness racing will continue … for now.) Considering they were meant to provide the state with a tax boost it’s no wonder Gov. Andrew Cuomo (D) has rejected the preposterous idea of giving them a financial bailout. Genting pooh-poohed talk of relocating its 1,100 VLTs but USA Today got hold of a lobbyist’s 15-page proposal to put them in Harriman. If at first you don’t succeed …
* All the more reason to skeptical of cryptocurrency.
