TALLAHASSEE, Fla. - Florida could likely reinvent itself as the "Vegas of the Southeast" after Gov. Charlie Crist, the Seminoles and legislators agreed on a deal that would bring more gambling to the Sunshine State, the Lottery Post reports. The deal reportedly would generate at least $1 billion for the state during the next five years.

Under the agreement, the Seminole tribe received five-year exclusive rights to have banked card games, including blackjack, at five of its seven facilities. Also, there is a prohibition against any state pari-mutuels not in Broward or Miami-Dade from running the card games.

"When the tribe is committing this type of money, it??s important to know the scope of gaming that we??re dealing with and what kind of competition or exclusivity you have," said Jim Allen, Seminole chief of gambling operations.

Twice before, legislators had struck down a gambling deal between the tribe and Crist, but this time lawmakers okayed the agreement. The previous two compacts had the funds paid to the state funneled to education, but this agreement lets the money go wherever it??s needed in the state budget.

"This really bodes well for the future of Florida," said Crist at a press conference. "The compact will help improve the quality of life for all Floridians and it could benefit the tribe and all our entire state."