While most of the country watched Donald Trump become the 47th President of the United States Tuesday night, three casino initiatives played out in Missouri, Arkansas, and Virginia.
Missouri became the 39th state to legalize sports betting, passing Amendment 2 by the slimmest of margins. Meanwhile, voters in Arkansas voted to pass Issue 2, revoking Pope County’s casino license.
Lastly, Virginia will finally get its fifth land-based casino, as the Petersburg casino referendum passed with a staggering 82% of the vote.
Key Highlights
- Missouri becomes the 39th state to legalize sports betting.
- Arkansas voters revoke Pope County’s casino license.
- Petersburg, Virginia casino referendum passes overwhelmingly.
Missouri Passes Sports Betting
Missouri is the next state to legalize sports betting as voters passed Amendment 2 on Tuesday by a slim margin of 50.1% to 49.9%. The measure only needed a simple majority to pass, with a margin of victory of less than 7,000 votes.
Over $40 million was spent on lobbying campaigns, primarily from FanDuel and DraftKings. The St. Louis Cardinals spearheaded the measure, collecting over 340,000 signatures to get the amendment on the ballot.
State casinos will be granted a license, and up to two betting platforms will be allowed per licensee. A 10% tax on revenues will be collected, with $5 million allocated to a problem gambling addiction fund.
Missouri is expected to draw $29 million in annual tax revenues from sports betting.
Arkansas Voters Revoke Pope County License
Arkansas voters cast their ballots on Issue 2 on Tuesday. Issue 2 will change the 2018 casino amendment passed by voters, revoking Pope County’s casino license.
Cherokee Nation Entertainment/Businesses was awarded the Pope County license earlier this year but has been in a bitter fight over the proposed casino with the Choctaw Nation of Oklahoma.
The Choctaw Nation was the driving force behind the measure and the primary funding source.
Per the changes, the casino amendment will require voters to approve future casino licenses by a special countywide election.
The passage of Issue 2 will have a direct and regressive impact on our County, and the entire River Valley for that matter. It is simply a missed opportunity that will not be replicated in terms of scope, investment, and jobs.
– Pope County Judge Ben Cross
The amendment has been hotly contested as many feel that voters were being misinformed as to the purpose of the measure.
Titled “Countywide Voter Approval for New Casino Licenses and Repeal Casino Licenses in Pope County Initiative,” some voters believe that the measure was pro-casino and overlooked that a casino was already licensed.
Pope County Judge Ben Cross spoke out against the measure’s passage, pointing to the negative impact of the vote.
“The passage of Issue 2 will have a direct and regressive impact on our County, and the entire River Valley for that matter. It is simply a missed opportunity that will not be replicated in terms of scope, investment, and jobs,” he said.
Petersburg Casino Referendum Overwhelmingly Passes
Virginia will finally get its fifth land-based casino after voters in Petersburg overwhelmingly approve its casino referendum. The measure passed on Tuesday, with 82% of voters supporting the initiative.
The passage makes way for the construction of Live! Casino Resort in Petersburg, a joint venture between Cordish Companies and Bruce Smith Enterprises.
According to Cordish, the project will bring over $10 billion to the region while creating over 10,000 new jobs and over $1.1 billion in expected tax revenues.
The Virginia Legislature initially approved five locations for casinos in 2021, provided local referendums were passed. Four such referendums passed in Bristol, Danville, Norfolk, and Portsmouth.
Richmond was initially the fifth location authorized, but referendums twice failed to pass. Earlier this year, the state legislature revoked Richmond’s authorization and gave it to Petersburg.
Plans can now move forward for a 92.5-acre mixed-use Live! Gaming & Entertainment District. The site will be located alongside Brasfield Parkway off I-95 at Wagner Rd.
Petersburg Major Sam Parham said, “The approval of the destination resort and casino in Petersburg marks a significant milestone for our City. Voter approval follows a three-year journey on this transformative project that will bring positive change to Petersburg for generations.
“This destination resort, casino, retail, and residential development will be the largest economic and tourism project in Petersburg’s history. City Council and administration look forward to working with The Cordish Companies and Bruce Smith Enterprise to positively impact our community and its prosperity.”
Sources
https://www.prnewswire.com/news-releases/petersburg-virginia-residents-vote-yes-for-live-casino-resort-the-cordish-companies-and-bruce-smith-enterprise-celebrate-passing-of-historic-casino-referendum-302297632.html
https://www.wric.com/news/local-news/the-tri-cities/petersburg-voters-appear-to-have-approved-1-4b-casino-proposal/
https://frontofficesports.com/missouri-sports-betting-legalized-election/
https://fox2now.com/news/missouri/voters-approve-missouri-amendment-2-legalizing-sports-betting-ap-projects/
https://www.kark.com/news/your-local-election-hq/arkansas-voters-accept-issue-2-casino-change-amendment/
https://www.nwaonline.com/news/2024/nov/05/casino-amendment-well-on-its-way-to-approval-in/
