Amendment 5 Could Bring Casino to Osage River

Imagine a new casino rising on the scenic shores of the Osage River. Missouri’s Amendment 5 seeks to make this vision a reality, expanding gambling and transforming the state’s gaming landscape. This ballot initiative could bring new economic opportunities and vital funding for education. Ready to explore how this amendment could reshape Missouri’s gaming industry? Let’s break down what’s at stake in this crucial vote.

Missouri’s Amendment 5 Could Bring Casino to Osage River, Expanding State’s Gaming Licenses

Missouri is on the verge of a significant gambling expansion. This November, voters will decide on Amendment 5, a ballot initiative that could pave the way for a new casino on the Osage River near the Lake of the Ozarks. Currently, state law only allows casinos on the Missouri and Mississippi rivers, but Amendment 5 aims to change that, potentially transforming Missouri’s gambling industry.

What is Amendment 5?

Amendment 5 proposes to amend the state’s constitution to increase the number of casino licenses from 13 to 14, making way for a casino on the Osage River. The amendment is backed by Bally’s Corporation and the Osage River Gaming and Convention Committee (OGCC), who envision a resort-style casino complete with a hotel, conference center, and retail options.

If approved, this new casino project will not only introduce another gambling destination in the state but will also provide annual gaming tax revenues estimated at $14.4 million. These funds are earmarked for elementary education and literacy programs, a factor that could sway public opinion in favor of the initiative.

A Second Gambling Initiative on the Ballot

Amendment 5 is not the only gambling-related proposal on the November ballot. Missouri’s sports teams have put forward a separate initiative to legalize statewide retail and mobile sports betting. Major players in the sports wagering industry, including DraftKings and FanDuel, support this measure, but it faces opposition from the state’s existing casino operators. Notably, Caesars Entertainment has contributed $4 million to a campaign against the sports betting initiative.

The competing gambling proposals create a dynamic environment as voters weigh the potential benefits and drawbacks of expanding Missouri’s gambling offerings.

Bally’s Bold Vision for Lake of the Ozarks

Late last week, Bally’s and the OGCC presented new renderings for the proposed casino to the Lake Ozark Board of Aldermen. The plans showcase a comprehensive development featuring a casino, hotel, conference facilities, and shopping outlets. While Bally’s has expressed formal interest in operating the casino, the license will be open to other bidders, adding an element of competition to the project.

The initiative, if passed, would override the 2008 cap on the number of casino licenses and alter existing regulations. Currently, casinos in Missouri must be situated within 1,000 feet of a riverbank. However, Amendment 5 proposes that facilities could be located near artificial bodies of water, within 500 feet of the 100-year base flood elevation as determined by the Federal Emergency Management Agency (FEMA). This adjustment opens up new possibilities for casino development in areas previously deemed ineligible.

Years of Effort to Expand Gambling in Missouri

The journey to expand Missouri’s casino licenses has been years in the making. In 2009, a fire destroyed the President riverboat casino, creating an opportunity for a new license. The OGCC began its push for an additional casino in 2018, initially seeking to pass legislation through the state government. However, efforts stalled due to the COVID-19 pandemic and subsequent political opposition, particularly from the Osage Nation, which has its own plans for a casino in the area. After multiple setbacks, the OGCC reverted to its original strategy of an initiative petition, which was finally approved for the November ballot on August 30.

The Osage Nation’s Competing Casino Plan

The Osage Nation, which claims ancestral ties to the Lake of the Ozarks region, has been a vocal opponent of the OGCC’s casino plan. The tribe announced plans for a $60 million casino-hotel on 28 acres in Miller County in late 2021. As a Class II facility, the Osage Nation does not require state approval but must obtain federal authorization. The City of Lake Ozark voted against endorsing the tribe’s casino project, adding another layer of complexity to the situation. Currently, the Osage Nation operates seven casinos in Oklahoma and is awaiting approval from the U.S. Department of the Interior for its Missouri project.

A Simple Majority to Pass

For Amendment 5 to become law, it needs a simple majority from Missouri voters in November. If it passes, it could open the door for new gaming opportunities, potentially boosting the state’s economy and funding critical education initiatives. However, it could also intensify the competition between casino operators in the region, especially with the Osage Nation’s proposed casino project looming in the background.

Amendment 5 represents a significant opportunity to expand gambling in Missouri, bringing in new revenue streams and potentially reshaping the gaming landscape in the state. As voters head to the polls, they will consider the promise of economic development against concerns over increased gambling activities. This decision will not only affect the future of gaming at the Lake of the Ozarks but could also set a precedent for how states manage and regulate gambling in the years to come. With competing interests from major casino operators and tribal entities, the outcome of this vote is poised to be a game-changer for Missouri’s gambling industry.

The post Amendment 5 Could Bring Casino to Osage River appeared first on Gamingo News.

Imagine a new casino rising on the scenic shores of the Osage River. Missouri’s Amendment 5 seeks to make this vision a reality, expanding gambling and transforming the state’s gaming landscape. This ballot initiative could bring new economic opportunities and vital funding for education. Ready to explore how this amendment could reshape Missouri’s gaming industry?
The post Amendment 5 Could Bring Casino to Osage River appeared first on Gamingo News.