Miami’s Magic City Casino to be sold to Native American tribe
The owners of the Magic City Casino plan to sell the operations to the Poarch Band of Creek Indians.
US.- The Havenick family, owners of Miami’s Magic City Casino, one of the longest-running gambling operations in Florida, will sell the casino to the Alabama-based Native American tribe Poarch Band of Creek Indians, according to the Miami Herald. The value of the transaction hasn’t been disclosed.
The gambling licence transfer will allow the tribe to own and operate the property and retain control of the casino’s greyhound permit, which was first issued by the state in 1931. While greyhound racing is now banned in the state, the permit allows the casino to operate slot machines. The sale requires the approval of the newly formed Florida Gaming Control Commission.
According to an application submitted to the commission last month, the Havenick family-controlled West Flagler Associates entered into an asset purchase agreement with Poarch tribe subsidiary Wind Creek Miami to acquire 100 per cent ownership interest and equity interest in the permit.
The commission has recommended approval of the permit transfer, according to The Herald. Many details are redacted in the copy of the asset purchasing agreement uploaded to the commission’s website, including information on the financing of the deal.
The deal will allow the Poarch Band of Creek Indians expand their gambling footprint. The tribe has 10 gaming operations, and already holds two gambling permits in North Florida.
It’s uncertain if the proposed deal would influence West Flagler Associates’ ongoing legal action over sports betting, which invalidated an updated gaming compact between Gov. Ron DeSantis and the Seminole Tribe of Florida.
The Havenick family-owned firm was one of the plaintiffs in the lawsuit that led to the court’s rejection of a deal that granted the Seminole Tribe a monopoly over sports betting in the state. A ruling last December determined that compact violated federal Indian gaming law.
The deal was thus struck down, halting sports betting and gaming expansion in Florida indefinitely. The ruling is currently under appeal by the Seminole Tribe and the United States Department of the Interior.
