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Source/Full Story - GamingAmerica'
Amendment 2 to legalize Sports Betting has seen over $25m in support from FanDuel and DraftKings,
but faces opposition from Caesars Entertainment.
Key points:
- Amendment 5 proposes a new casino at the Lake of the Ozarks, backed by $2m in recent contributions
- Amendment 2 aims to legalize Sports Betting, with over $25m in support from FanDuel and DraftKings
- Opposition to Amendment 2 comes from Caesars Entertainment, citing concerns over potential state revenue
Two campaigns aimed at expanding legal gambling in Missouri are attracting significant financial support
as the 5 November election approaches.
The initiatives, Amendment 5 and Amendment 2, seek to establish a new casino and legalize Sports Betting, respectively.
Amendment 5, which proposes a casino at the Lake of the Ozarks, recently received a $2m boost. Bally's contributed $1m,
while Osage Landing Development and RIS each added $500,000.
If approved, the project would create 500 construction jobs and 700 permanent positions, with tax revenue
earmarked for early childhood literacy programs.
Meanwhile, Amendment 2 – which focuses on legalizing Sports Betting – has seen even larger contributions.
FanDuel and DraftKings have poured over $25m into the pro-Amendment 2 campaign in the past two months.
Supporters argue that legalization would recapture revenue currently flowing to neighboring states with legal Sports Betting.
Good to know: The proposed casino could create 1,200 jobs and fund early childhood literacy programs
However, the Sports Betting initiative faces opposition from Caesars Entertainment, which has donated more than
$14m to the anti-Amendment 2 campaign.
Caesars, which owns three Missouri casinos, criticizes the amendment as a "flawed approach" that makes
"no guarantee" of state revenue.
The proposed Sports Betting tax rate is set at 10%, with companies allowed to deduct up to 25% of
promotional subsidies from taxable revenue.
Projected annual revenue ranges from zero to $28.9m, with supporters estimating $105m for public
education over five years.
As the election nears, the recent financial backing underlines the high stakes in Missouri's gambling expansion debate.
Amendment 2 to legalize Sports Betting has seen over $25m in support from FanDuel and DraftKings,
but faces opposition from Caesars Entertainment.
Key points:
- Amendment 5 proposes a new casino at the Lake of the Ozarks, backed by $2m in recent contributions
- Amendment 2 aims to legalize Sports Betting, with over $25m in support from FanDuel and DraftKings
- Opposition to Amendment 2 comes from Caesars Entertainment, citing concerns over potential state revenue
Two campaigns aimed at expanding legal gambling in Missouri are attracting significant financial support
as the 5 November election approaches.
The initiatives, Amendment 5 and Amendment 2, seek to establish a new casino and legalize Sports Betting, respectively.
Amendment 5, which proposes a casino at the Lake of the Ozarks, recently received a $2m boost. Bally's contributed $1m,
while Osage Landing Development and RIS each added $500,000.
If approved, the project would create 500 construction jobs and 700 permanent positions, with tax revenue
earmarked for early childhood literacy programs.
Meanwhile, Amendment 2 – which focuses on legalizing Sports Betting – has seen even larger contributions.
FanDuel and DraftKings have poured over $25m into the pro-Amendment 2 campaign in the past two months.
Supporters argue that legalization would recapture revenue currently flowing to neighboring states with legal Sports Betting.
Good to know: The proposed casino could create 1,200 jobs and fund early childhood literacy programs
However, the Sports Betting initiative faces opposition from Caesars Entertainment, which has donated more than
$14m to the anti-Amendment 2 campaign.
Caesars, which owns three Missouri casinos, criticizes the amendment as a "flawed approach" that makes
"no guarantee" of state revenue.
The proposed Sports Betting tax rate is set at 10%, with companies allowed to deduct up to 25% of
promotional subsidies from taxable revenue.
Projected annual revenue ranges from zero to $28.9m, with supporters estimating $105m for public
education over five years.
As the election nears, the recent financial backing underlines the high stakes in Missouri's gambling expansion debate.
