Missouri Sports Betting Bill Gains Support from Local Leaders
Mayors Tishaura Jones of St. Louis and Quinton Lucas of Kansas City have endorsed Amendment 2, highlighting that Missouri is losing potential sports betting revenue to neighboring states where such activities are legal.
Supporters of the Missouri Sports Betting Bill
In recent months, sports teams such as the St. Louis Blues, St. Louis Cardinals, St. Louis FC, and Kansas City Royals have joined the list of supporters, contributing to the campaign in favor of the bill.
The St. Louis and Kansas City Building Trades Councils and the St. Louis Democratic Central Committee (SLDCC) have also expressed support, though the SLDCC opposes certain tax provisions within the bill.
Media outlets, including the Kansas City Star and the St. Louis Dispatch, have endorsed the bill. Both Republican and Democratic gubernatorial candidates, Mike Kehoe and Crystal Quade, have voiced their support, alongside other politicians, including Senator Justin Brown, Representative Jeff Myers, Speaker Jon Patterson, Senator Mary Elizabeth Coleman, Representative Steve Butz, and a wide array of other representatives and local officials.
DraftKings and FanDuel have poured over $40 million into the “Winning for Missouri Education” campaign backing the bill. However, Caesars has opposed the legislation, citing issues with the licensing provisions.
Arguments For and Against
The mayors of St. Louis and Kansas City, Tishaura Jones and Quinton Lucas, argue that Missouri residents are already placing sports bets in neighboring states, resulting in lost potential tax revenue for Missouri.
GeoComply data shows that Missouri residents attempted to place over 11 million bets since the beginning of the football season, indicating high interest in sports betting within the state.
Studies estimate that legal sports betting could generate $335 million in total gaming revenue in the first year, increasing to nearly $560 million by the fifth year.
Total tax revenue is projected to be $4.7 million in the first year, rising to $38.7 million by the fifth year, with up to $105 million dedicated to Missouri schools over five years.
Supporters argue that legalizing sports betting would allow for regulation, providing a safer environment for bettors.
The St. Louis Democratic Central Committee (SLDCC) opposes Amendment 2 due to its language around sports betting taxation. The bill would allow operators to deduct gaming revenue, potentially reducing state revenue.
Caesars Entertainment has contributed over $14 million to the campaign against Amendment 2. Industry sources suggest Caesars is dissatisfied with the bill’s provision allowing only one “skin” per casino operator and two open online licenses.
The fate of Missouri’s sports betting bill will be decided on Election Day, giving residents a chance to legalize sports betting in the upcoming vote.
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