JEFFERSON CITY — If Missouri voters approve a new casino at the Lake of the Ozarks Tuesday, the slot machines likely won’t start ringing until at least 2026.
According to the state’s top gaming regulator and a spokesman for the casino bid, it will take at least six months to go through the licensing process and another 18 months to build the facility, putting the timeline for an opening at two years out.
Casino giant Bally’s and an Eldon-based real estate development company have bankrolled the proposal, which, if approved, would result in an entertainment complex on the Osage River, below the dam that created the popular boating and recreation destination in mid-Missouri.
People are also reading…
Bally’s and Osage Landing Development Co. and RIS Inc. have contributed $10 million to convince voters to vote “yes” on Amendment 5.
Bally’s operates 15 casinos across 10 states.
John Hancock, a spokesman for the project, said the ballot question has been linked for some to a separate question asking if voters want to legalize sports betting.
That has made polling on the initiative trickier, he said, adding that the outcome Tuesday could be close.
“As people learn more, the polling gets better,” Hancock said.
A change in the state constitution is necessary to get the project underway because the state’s current fleet of 13 casinos is limited to sites along the Missouri and Mississippi rivers.
The project, if approved, is expected to create 500 construction jobs and more than 700 permanent jobs. Tax revenue from bettors would be earmarked for early childhood literacy programs in public schools.
The development also would include a hotel and conference center and other retail spaces. It is expected to be built near the Osage River in the City of Lake Ozark on land that has served as a rock quarry.
A report by Auditor Scott Fitzpatrick shows the casino could generate an estimated $14 million per year. The fiscal analysis showed it will cost an estimated $2.2 million annually to regulate and staff the casino with nine Missouri State Highway Patrol officers.
Local governments are estimated to receive $2.1 million annually in admission and other fee revenue.
Missouri Gaming Commission Director Mike Leara said he believes the agency could finalize the permitting process by mid-June 2025.
The new casino could eventually compete with another Lake of the Ozarks casino proposed by the Osage Nation.
The Osage Nation continues to wait for approval from state and federal officials to build a tribal casino in the lake area.
A campaign committee linked to the tribe spent an estimated $389,000 on a campaign urging voters to reject the Bally’s project. The committee, however, has not raised any money in October, according to Missouri Ethics Commission reports.
This slideshow recounts the creation of Lake of the Ozarks and the subsequent tourism that followed years later.
0
20
20
