Florida Regulators Approve Landmark Casino Agreement

The Florida Gaming Control Commission has granted approval for the transfer of Magic Casino’s gaming license in Miami to the Poarch Creek Band of Mission Indians. This will likely be the largest gaming acquisition in the state’s history, as the Alabama-based tribe is set to purchase the casino from the current owner, West Flagler Associates (WFA). Although the sale price has not been made public, industry insiders have speculated it to be around $600 million.

Magic City is a card room and parimutuel venue, but is one of the few in the state to offer slot machines, which explains the hefty price tag. Whereas other larger casinos in the state are owned by the Seminole tribe of Florida, and their gaming rights are non-transferable.

The Poarch Creek Tribe is no stranger to expanding their gaming footprint across the United States. In 2019, they purchased the Sands Bethlehem from LVS for $1.3 billion, subsequently renaming it Wind Creek Bethlehem. This current deal is an all-cash purchase of 100% of Magic City, and the tribe’s gaming arm, PCI Gaming, has stated that all employees of the venue will be retained, aside from a few senior executives that will remain with WFA.

The property to