Bally’s Corporation has stepped up its support for the campaign to bring a new casino to the Lake of the Ozarks, adding $1 million to the effort with just weeks left before Missouri’s Nov. 5 election. The funding boost aims to bolster the push for Amendment 5, which seeks to amend the state constitution to allow the construction of a new casino on the Osage River near the iconic Bagnell Dam.
In addition to Bally’s significant contribution, two other major backers—Eldon-based Osage Landing Development Co. and RIS Inc.—each donated $500,000, bringing the total fundraising haul for the campaign to over $2 million in just one weekend. This influx of cash is expected to fuel the final stages of the campaign as proponents make their case to Missouri voters.
Constitutional amendment for a new casino:
For the proposed casino to become a reality, Missouri’s constitution needs to be amended. Currently, the state allows only 13 casinos, all of which are located along the Missouri and Mississippi rivers. If Amendment 5 passes, it would open the door for a new casino site along the Osage River, adding another attraction to the Lake of the Ozarks, a renowned recreation and boating destination in central Missouri.
The proposed casino project is expected to generate significant economic benefits for the region, including the creation of 500 construction jobs and more than 700 permanent positions once the casino is operational. Additionally, tax revenue generated from gambling at the casino would be allocated to support early childhood literacy programs in Missouri’s public schools.
However, if approved, the new casino could face competition from another project already in the works. The Osage Nation is currently awaiting state and federal approval to build a tribal casino in the same area, which has long been a popular vacation spot for residents across the Midwest.
The debate over sports betting in Missouri:
While the push for a new casino is underway, another major gambling issue is unfolding in Missouri. The campaign for Amendment 2, which aims to legalize sports betting in the state, received a massive $5 million injection of funds from Betfair Interactive, the parent company of FanDuel. This marks the fourth such donation of $5 million to the pro-Amendment 2 campaign, Winning for Missouri Education, since mid-September.
As St. Louis Post-Dispatch reports, FanDuel and DraftKings have been two of the leading financial backers of the pro-sports betting initiative, collectively contributing more than $25 million to the cause in recent months. Their support is aimed at legalizing sports betting in Missouri, which advocates argue could generate much-needed revenue for the state.
Despite this momentum, opposition remains strong. Caesars Entertainment, which operates three casinos in Missouri—Isle of Capri Boonville, Harrah’s Kansas City, and Horseshoe St. Louis—has contributed over $14 million to the Missourians Against the Deceptive Online Gambling Amendment campaign. Caesars has been vocal in its criticism of the proposed sports betting legislation, labeling it a “flawed approach to expanding sports betting” and arguing that it offers no clear guarantee of additional revenue for the state.
According to Caesars, Amendment 2 “masquerades as an education funding solution while making no guarantee that the state will see a single penny in revenue.” The company has raised concerns about a provision in the amendment that would allow sports betting operators to deduct up to 25% of promotional subsidies from their taxable income, potentially reducing the amount of tax revenue the state would collect.
Proponents of Amendment 2 argue that legalizing sports betting would bring in significant revenue, especially since Missouri is currently losing potential tax dollars to neighboring states that have already legalized the activity. While initial projections estimate that sports betting could generate anywhere from $0 to $28.9 million per year in tax revenue, the campaign believes that bringing those dollars back to Missouri will benefit the state’s education system.
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