Florida Voters Approve Amendment Seen as Limiting Casino Growth

(Bloomberg) -- Florida voters approved Amendment 3 to the state’s constitution, giving themselves power to block any expansion of casino gambling.

The ballot initiative’s opponents, led by casino companies and sports teams, argued that it would effectively kill outside gaming companies’ efforts to move into the Sunshine State, as well as hopes of bringing sports gambling to Florida.

Going forward, 60 percent voter approval will be needed for any new gambling, an onerous threshold. The amendment protects the hegemony of the Seminole Tribe of Florida, which operates gambling establishments under federal law allowing Native Americans to do so. It was supported by the Seminoles and entertainment giant Walt Disney Co., which gets to protect its brand of Florida tourism.

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