Posted on: September 25, 2024, 11:09h.
Last updated on: September 25, 2024, 11:40h.
The Bally’s Corporation and its co-developers have unveiled what a casino resort might look like at the Lake of the Ozarks in Missouri.
On Tuesday night, Osage River Gaming & Convention (ORGC) presented its casino resort project to the City of Lake Ozark Board of Alderman for initial review.
The renderings showcase a 20-story hotel tower overlooking Highway 54 just south of the Osage River. Expansive convention facilities and large paved parking areas are also seen.
The targeted site is a former quarry near the “Hollywood-style” Lake of the Ozarks sign at the junction of Highway 54 and Route 242. Alderman got their first look at the proposed Bally’s casino but won’t vote on the design unless statewide voters endorse Amendment 5 this November.
November Referendum
ORGC successfully petitioned state voters to back an initiative to expand gambling in the Show-Me State. Amendment 5 would allow commercial casino gambling on the Osage River from the state’s current limitations to the Missouri and Mississippi rivers.
The constitutional amendment would also increase the number of available commercial casino concessions from 13 to 14. Though the proposed Bally’s resort would be a land-based casino, the development would satisfy the state’s riverboat gaming laws by being located within 1,000 feet of the Osage River.
ORGC fielded over 320K signatures in support of the Ozarks casino.
In August, Missouri State Secretary Jay Ashcroft said the campaign failed to submit enough signatures in the state’s 2nd Congressional District. After the ORGC filed a lawsuit contesting the secretary’s conclusions, Ashcroft said clerical errors resulted in an overlooked batch of petitions. Once counted, the campaign was certified for the November 5 ballot and the lawsuit was withdrawn.
Tribal Competition
ORGC is an investor group of local businesspeople led by area real estate developer Gary Pruitt. The organization has been trying to win over state lawmakers to change the state’s gaming laws since 2009 to no avail.
After the Osage Nation acquired a former Quality Inn hotel at 3501 Bagnell Dam Blvd. in 2022 and announced its intentions to build a tribal casino on the property, ORGC took matters into its own hands by embarking on a citizen-led constitutional referendum campaign. The investors partnered with Bally’s, which largely covered the canvassing costs.
The tribe continues to seek federal approval to have the Bagnell Dam property taken into trust and deemed sovereign land. The process can take years, as tribes must demonstrate historical ties to newly acquired lands.
Missouri is expected to see a strong turnout this election, as an abortion referendum has caused much stir across the state. Along with voters deciding if the Missouri Constitution should be amended to allow casino gambling near the Osage, voters will decide if the state’s governing framework should include in-person and online sports betting.
DraftKings and FanDuel are behind Amendment 2, which would provide retail and online sportsbook license opportunities for Missouri’s casinos and professional sports stadiums. Two online sportsbooks not tied to a physical casino or sports venue would additionally be authorized if a simple majority of voters back the sports gambling question.
