The American presidential elections, which take place this Tuesday (5), could result in major changes in the way the country is administered, but, in five states, the expansion of gambling is also on the electoral ballot. Thus, the competition in the bookmakers remains balanced, but it keeps Donald Trump with a small advantage ahead.
For the betting industry, Missouri voters’ decision to allow online and land-based sports betting across the state would be a boon. If voters approve Amendment 2, Missouri will be the only US state in 2024 to approve a betting expansion.
American elections and the future of the industry at stake
Days before the US election, the Missouri Gaming Commission said it interprets the constitutional amendment to mean that every land-based casino will be eligible for an online gambling license.
The interpretation indicates that companies such as Caesars and Penn Entertainment will each receive up to three licenses. Each company operates three land-based casinos in Missouri.
In Arkansas, Missouri and Virginia, the fate of a casino license hangs in the balance. In Maryland, lawmakers will measure the temperature in a city and use that information to determine whether a casino can be located there.
And in Colorado, voters will have to decide whether the state can funnel more than $29 million in gambling tax revenue to local water projects.
Arkansas
In Arkansas, Question 2 is unique – it’s a proposal that would take away an existing casino license. The $30 million campaign for and against the proposal made it the richest in state history.
Therefore, if Question 2 passes, a charter designated for Pope County — which voters approved in 2018 — will be rescinded. So the Arkansas Racing Commission granted the license to Cherokee Nation Businesses in June. But the Choctaw Nation of Oklahoma opposes a new casino in Russellville and funded the “yes” campaign.
The Choctaws operate nine gaming sites in Oklahoma, including one in Pocola, right on the Arkansas border. This site is about 90 miles from the proposed Cherokee site. Gov. Sarah Huckabee, however, opposes the measure.
A “yes” vote means the voter supports withdrawing the license. A “no” vote means the voter opposes the license revocation.
Colorado
In 2019, Colorado voters approved legal online sports betting, and part of the law allows up to $29 million of tax revenue to go toward water projects in the state.
The Department of Revenue projects that tax revenue from betting will exceed $29 million in the coming years. In this US election, residents will have the opportunity to approve Proposition JJ, which will allow all tax revenue from gambling to be directed to water projects.
Here is the main text of the proposal:
“Without raising taxes, can the state keep and spend all tax revenue from sports betting above voter-approved limits to fund conservation and water protection projects instead of returning revenue to casinos?“
A “yes” vote means the voter agrees the state can keep all gambling revenue above $29 million for water projects. A “no” vote means the voter opposes the measure and that excess tax revenue would be returned to the operators.
Maryland
Voters in Chesapeake Beach, about an hour from Washington, D.C., will for the second time have their say on whether to add a casino to the city. In the last US presidential election in 2020, local voters said they were not in favor of an expansion of betting.
Since then, online and retail sports betting have launched in the state. Maryland lawmakers will use the results of the question to guide casino expansion plans in the state.
Here’s the question: “Are you in favor of the State of Maryland allowing the expansion of gaming (i.e., additional electronic bingo machines, casino slot machines, table games) in the City of Chesapeake Beach?”
Missouri Amendment 2
This constitutional amendment would allow mobile sports betting across the state. Additionally, it would allow physical sports betting at casinos and licenses associated with five professional sports teams. Two standalone mobile licenses would also be available.
But many interested parties interpreted the language of the initiative to mean that each casino company would receive a single license. Five companies have casinos in the state.
Here is the main text of Amendment 2: “Do you wish to amend the Constitution of Missouri to:
- Allow the Missouri Gaming Commission to regulate licensed sports betting, including online sports betting, betting boats, professional sports betting districts, and mobile sports betting operator licenses;
- Restrict sports betting to individuals physically located in the state and over the age of 21;
- Allow license fees prescribed by the Commission and a 10% betting tax on revenues received to be allocated to education after expenses incurred by the Commission and necessary funding from the Compulsive Gambling Prevention Fund; and
- Allow the general assembly to enact laws consistent with this amendment?”
Because the proposal allows for deductions from sports gaming revenue, they estimate tax revenue ranging from $0 to $28.9 million per year. A “yes” vote means the voter supports expanding betting and a “no” vote means the voter does not support it.
Missouri Amendment 5
This constitutional amendment would allow a new land-based casino license in the Lake of the Ozarks. Bally’s, which already has a casino in Kansas City, made an offer on the site. If the amendment is approved, other companies will be able to submit their offers.
Missouri currently has 13 licensed casinos, and all must be located on the Mississippi or Missouri rivers.
Voters must respond whether they wish to amend the Constitution to allow the Missouri Gaming Commission to issue an additional gambling boat license to:
- Operate on the portion of the Osage River from the Missouri River to Bagnell Dam
- Require that the prescribed location include artificial spaces that contain water and are less than 500 feet from the 100-year base flood elevation as established by the Federal Emergency Management Agency
- Require that all state revenues derived from the issuance of the gaming boat license be earmarked for early childhood literacy programs at public elementary education institutions
A “yes” vote would mean the voter is supporting the addition of a new casino. A “no” vote would mean that the voter is against it.
Virginia
Four years after voters approved statewide online sports betting and five land-based casinos, Petersburg residents will have the chance to decide whether they want a casino. However, Richmond voters twice rejected the approval of a casino in the city, which was in the original law.
Therefore, this Tuesday (05), Petersburg voters will vote on whether or not to issue a license to Live! Casino, from The Cordish Companies. In February, state lawmakers voted to remove Richmond’s proposed casino from the list of eligible cities.
Casinos opened in Bristol (Hard Rock), Danville (Caesars) and Portsmouth (Rivers). Late last week, Boyd Gaming and the Pamunkey Tribe broke ground on a $750 million casino in Norfolk. Its opening is scheduled for the end of 2027.
Only Petersburg voters will vote on this issue. A “yes” vote means that the voter supports the installation of a casino in the city. A “no” vote means the voter does not support it.
