Posted on: September 18, 2024, 10:39h.
Last updated on: September 18, 2024, 10:52h.
Newly disclosed campaign finance data reveals that Caesars Entertainment is behind the opposition to the planned sports betting referendum in Missouri this November.
Caesars has contributed $4 million to a committee called Missourians Against the Deceptive Online Gambling Amendment. The campaign is working to encourage voters to oppose Amendment 2 during the November 5 election.
Amendment 2 will ask voters if they wish to amend the Missouri Constitution to allow gambling on professional and collegiate sports. If a majority votes in favor of the question, Missouri’s professional sports stadiums and the state’s casinos would be afforded retail and online sports betting privileges. The referendum would additionally authorize two online sportsbook skins not tethered to a sports venue or casino.
Retail licenses would cost $250K for five-year durations. Mobile licenses would cost $500K. Gross sportsbook revenue after promotional deductions would be subject to a 10% state tax.
Caesars’ Opposition
Caesars operates three casinos in Missouri — Isle of Capri in Boonville, Horseshoe St. Louis, and Harrah’s Kansas City. It’s not customary for a major casino operator like Caesars to oppose efforts to expand gaming, but the company reportedly dislikes Amendment 2 because it would provide sports betting opportunities to too many competitors.
Caesars’ sports betting unit, Caesars Sportsbook, continues to trail DraftKings and FanDuel in terms of market share. Amendment 2 would allow those companies to enter the Show-Me State and, likely, assume control of Missouri’s sports betting industry.
Amendment 2 is a bad deal for Missouri. This deceptive measure was written by and for the financial benefit of its out-of-state corporate sponsors and funders,” said Brooke Foster, a spokesperson for Missourians Against the Deceptive Online Gambling Amendment.
DraftKings and FanDuel, along with the Kansas City Chiefs and Royals, and St. Louis Cardinals and Blues, funded the referendum campaign. They say the state is losing out on tens of millions of dollars each year by not allowing sports betting.
Winning for Missouri Education, the pro-sports betting campaign, is using education to rally support for Amendment 2. The referendum would mandate that most of the state tax proceeds from sports gambling go to K-12 public education.
Latest Polling
New polling from Emerson College/The Hill suggests the outcome of Amendment 2 will be razor-thin. With a margin of error of 3.3%, the poll found that 52% of likely voters in Missouri will vote in favor of the sports betting question.
About 25% of likely voters say they’ll vote against sports betting, and 23% said they were unsure.
Winning for Missouri Education and Missourians Against the Deceptive Online Gambling Amendment over the next month and a half will work to win over those undecided voters. Winning for Missouri Education spokesperson Jack Cardetti told Fox 4 this week that Caesars is running a misleading campaign.
“From their deceptive ads to the hypocritical name of their campaign committee, the Nevada-based company hopes Missourians never discover their true motives. The reality is that Caesars opposes Amendment 2 because they want a larger piece of the sports betting pie at the expense of Missouri classrooms,” Cardetti said.
