![]() Kimberly Pearson, CEO of the Osage Nation Gaming Enterprise Board, said the Osage have purchased land in Lake Ozark and have started the process of clearing it for development. The Osage Nation is vying to build a casino in Lake Ozark, but HJR 23 does not affect their development directly because Native American tribes are not subject to state law, notes the cited source. She noted that a casino would also benefit the seasonal Lake Ozark economy by creating more year-round jobs. Krista Watts, one of Lake Ozar’s aldermen, said that when she attended a state municipal league convention, the only four representatives in the room who said they were not struggling to generate revenue had casinos in their communities. The $2.5 million his city would secure in casino tax revenue yearly would bring his community "many opportunities," noted Newberry. Mayor Dennis Newberry of Lake Ozark, a city of 2,000 along the Osage River considered the most likely site for a casino, said the city needs about $25 million in capital improvement projects it cannot afford, blaming few local taxpayers and a lack of “meaningful reinvestment” in the city’s hospitality industry in 40 or 50 years. The gaming commission taxes 25% of casinos’ revenue, which means the state would take in about $25 million a year, as reported by the Columbia Missourian. House Joint Resolution 23 would put a measure on the ballot that, if passed, would allow the Missouri Gaming Commission to grant a license for a casino on the Osage River.īill sponsor Rep Jeff Knight cited projections that a casino in the Lake of the Ozarks area could net about $100 million in revenue annually. The leftover revenue would flow into the state's public pension system.A Missouri House committee considered a bill Wednesday that would put a constitutional amendment before voters to expand casino gambling. Revenue generated from taxing such wagering would cover those regulatory costs. Under the bill, the Kentucky Horse Racing Commission would regulate sports wagering operations. Service providers would have to pay $50,000 for an initial license, with a $10,000 annual renewal fee. Participating tracks could contract with up to three service providers to provide sports wagering services at the track itself, or through online sites and mobile applications. House Bill 551 would allow Kentucky’s horse racing tracks to be licensed as sports betting facilities for a $500,000 upfront fee and an annual renewal fee of $50,000. This is the fifth consecutive year sports betting legalization has been proposed by means of several different bills, which fell through. Meredith said he expects a vote in the House next week. Some changes were also made in committee like removing an in-person registration requirement for bettors. The bill is only focused on sports betting and does not include fantasy or online poker contests like last year’s bill. We just need to bring this home and regulate it properly,” he told the cited source. “But the reality is we know there’s a ton of this activity already going on in the state and there’s a ton of residents who are just crossing the borders to place their bets. “I think it is a moral issue for the folks that are against the bill I can’t debate their moral objections or their religious convictions," Meredith said. But much like last year’s sports betting bill, the gamble is on the Senate. He said an estimated $1 billion is wagered illegally in Kentucky annually.Īccording to Meredith and co-sponsor Al Gentry, through a 9.75% tax on the revenue at tracks and a 14.25% tax on revenue from online wagers, the state would make an estimated $23 million annually.ĭespite some opposition, the bill won unanimous bipartisan support in committee, and it is believed it has enough votes to pass the full House. “I’m here to tell you about taking an industry that exists in darkness and in the shadows and legitimizing it, legalizing it, and regulating it to protect consumers of Kentucky,” he said, as reported by Fox56 News. Michael Meredith, one of the bill sponsors, said he expects the measure to pass once again in a House vote next week, and is confident it will win support in the Senate. The bill passed out of the House last year before stalling in the Senate. House Bill 551, which would allow Kentuckians to wager on live sports events both online and in person, was unanimously approved by the legislative house committee. A bill that would legalize sports wagering in the state of Kentucky passed out of committee on Wednesday morning.
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