Posted on: November 6, 2024, 06:40h.
Last updated on: November 6, 2024, 06:43h.
Missouri voters appear to have narrowly approved an amendment to legalize sports betting in the state on Tuesday night but have passed on a measure that would have created a new casino license for the Lake of the Ozarks.
As of 5 a.m., with just one county left to report, 50.23% of voters had said yes to the amendment (Amendment 2) for a slender margin of just over 13,000 votes. The result has already been called by The Missouri Independent, although not by the Associated Press. That means Missouri should become the only state this year to legalize sports wagering.
Amendment 2 was backed by the state’s pro-sports teams and most of its casino operators, along with DraftKings and FanDuel. They had become frustrated by the legislature’s failure to get the job done during multiple sessions.
Sportsbook Splurge
DraftKings and FanDuel poured almost $41 million into the ballot campaign, dubbed “Winning for Missouri Education.” Meanwhile, Caesars Entertainment, the only one of the state’s casino operators not backing the initiative, spent $14 million on an opposing campaign.
Caesars objection stemmed from the fact that online sportsbooks like DraftKings and FanDuel could be licensed without having to create a business partnership with a local casino.
Under the amendment, each of the Missouri’s 13 licensed casinos could offer retail sports betting on site as well as a mobile platform.
The state’s six major professional sports teams would also be able to offer land-based sports betting at one location close to their stadiums, as well as via a mobile app. Two licenses would be available for online sportsbooks without a link to a casino or sports team.
Casino Plan Sinks
While there still may be a scintilla of doubt about the Amendment 2 result, it’s clear that the Lake of the Ozarks casino measure has failed. Amendment 5 would have changed the state constitution to allow for a casino to be built on or near artificial bodies of water while creating a 14th casino license. Currently under the constitution, casinos can only be built along rivers.
The amendment was backed by Bally’s Corp and the Osage River Gaming and Convention Committee (OGCC), which have long proposed a casino for the popular tourist hotspot.
One group that will applaud the failure of the measure is the Osage Nation, which has plans for a casino of its own at the lake. The Oklahoma-based tribe claims ancestral ties to the area and has ambitions to build Missouri’s first tribal casino there.
The plan is awaiting approval by the federal government.
