Bingo style slot machines to be affected by new rules:

The casino run by Miccosukee and Seminole tribes use bingo style slot machines may be reclassified or outlawed because of the new regulations of the organization that handles tribal gambling.

 

This move proves to be expensive to tribe across the country where about $1.2 billion a year will be lost in gambling revenue. Funds will also be needed to change machines or get new ones.

 

Class II machines are truly bingo-style machines, and have not entered into the agreement with their states. The class III machines are fast and lucrative, like Las Vegas type of machines and are the slots that require tribes to enter into an agreement with states.

 

The above said document is 150 pages long and has a detailed examination of the financial loss the tribes of the country stand to suffer with the proposed changes. It is also expected that the Class II types of slot machines will be reclassified as Las Vegas style machines.

 

The tribes that don’t have any agreement to operate advanced machines will mean that they have five years to either buy new machines or retrofit old ones. The Miccosukees are slotted to be affected by the change the most, while there has been no mention of Florida numbers in the report.

 

The Miccosukees have a casino in Miami-Dade that uses bingo style machines. However the Seminoles had made Gov. Charlie Crist let them install Las Vegas style machines last year and have done so accordingly.

 

Both types of machines are practically indistinguishable today; it’s only that the Las Vegas machines are faster and can handle bigger payouts. With the report, it is expected to find negative effects on tribes operating on bingo style machines.

 

A decrease in gaming and nongaming revenue, casino closures, a drop in tribal member jobs and increased costs for retrofitting and training have been predicted with the report. This is why the Indian gaming commission will wait till March 9^th to listen for comments from tribes.

 

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