Lake Of The Ozarks Casino Investor Group Plans Ballot Petition To Change Missouri's Constitution

LAKE OZARK, Mo. — Investors hoping to bring a privately owned casino to Lake of the Ozarks say they'll be taking the issue straight to Missourians, bypassing the legislature and using the petition process to place it on the November 2024 ballot.

The group, Osage River Gaming and Convention (ORGC), must clear a significant hurdle in the Missouri constitution in order to construct a casino on the Osage River: the state constitution currently only permits casinos on "excursion gambling boats" located on (or very near) the Missouri and Mississippi rivers. Only Missouri voters can change the constitution, through a majority vote. Through three of the past four years, ORGC has attempted to maneuver a bill through the Missouri legislature that would put the question to voters statewide: Should the constitution be changed to add one more gaming license to Missouri's current 13 gaming licenses, and should that license be earmarked for a casino on the Osage River?

Every year, the bill has failed to make it to the governor's desk.

So, on Tuesday, Nov. 28, ORGC updated the Lake Ozark Board of Aldermen on its plans for 2024. ORGC representative Andy Prewitt explained at the board meeting that ORG would be pursuing a Citizen's Initiative Petition.

According to a document submitted to the city, ORGC expects to spend $10 million on the effort to get the constitutional amendment changed: the contract to conduct the citizens' petition would cost an estimated $3.5 million, with $6.5 million spent on marketing efforts to get a Yes vote.

Even if the constitution is changed to add a 14th license and allow a casino on the Osage River, there's no guarantee the ORGC group would receive the new license. Those licenses are issued by the Missouri Gaming Commission, at its discretion.

"In order for us to feel comfortable with this risk, we will be asking Miller County and the City of Lake of the Ozarks [sic] to name our group, Osage River Gaming and Convention, the preferred Casino developer, and the Eagles' Landing Phase 4 property the preferred Casino location."

The endorsement request comes five months after the board was split on a vote over whether to officially support the Osage Nation's efforts to bring a tribal casino to Lake Ozark: Mayor Dennis Newberry broke the tie with a No vote.

Big Money At Stake

ORGC anticipates the casino would bring between $2.4 and $4 million in city/county tax revenue each year, with between $13.9 and $22.8 million in state tax revenues. (The lower figure is based on revenues from Cape Girardeau, one of the smallest casinos in the state. The higher figure is based on ORGC projections that the Osage River casino would clear $100 million per year.)

Opponents of an Osage Nation tribal casino have pointed out the Osage Nation would not have to pay into local and state taxes, whereas a state-regulated casino would.

Those tax revenues could likely be enough to convince Missourians to pull the lever for ORGC: Prewitt says a July 2023 survey paid for by the group revealed that if all of the casino's state tax revenue generated were put toward "increasing teacher salaries," the amendment would pass with flying colors: 77% yes. Bally's Corporation conducted a similar poll on a national scale to verify those results, and the outcome was even a stronger Yes: 82%.

Mayor Dennis Newberry told LakeExpo the city board would consider a resolution in support of the ORGC casino at its Dec. 12 meeting.