Published on: September 18, 2024, 10:39h.
Updated on: September 18, 2024, 10:39h.
Newly disclosed campaign finance data shows that Caesars Entertainment is opposing the sports betting referendum in Missouri this November.
Caesars has contributed $4 million to a committee called Missourians Against the Deceptive Online Gambling Amendment. The campaign is urging voters to oppose Amendment 2 during the Nov. 5 election.
Amendment 2 seeks to allow gambling on professional and collegiate sports in Missouri. If passed, the state’s professional sports stadiums and casinos would have retail and online sports betting options. Additionally, two online sportsbook skins could operate independently of sports venues or casinos.
Retail licenses would cost $250,000 for five years. Mobile licenses would cost $500,000, with 10% state tax on gross sportsbook revenue after promotions.
Caesars’ Opposition
Caesars owns three Missouri casinos – Isle of Capri in Boonville, Horseshoe St. Louis, and Harrah’s Kansas City. The company opposes Amendment 2 as it would open up sports betting to many competitors.
Their sports betting unit, Caesars Sportsbook, lags behind DraftKings and FanDuel in market share. Amendment 2 would allow these companies to enter Missouri and dominate the sports betting industry.
Amendment 2 is not in Missouri’s best interest. This misleading measure was crafted to benefit out-of-state sponsors,” said Brooke Foster, spokesperson for Missourians Against the Deceptive Online Gambling Amendment.
DraftKings, FanDuel, Kansas City Chiefs and Royals, and St. Louis Cardinals and Blues are funding the referendum campaign, arguing that Missouri is losing out on significant revenue by not legalizing sports betting.
The pro-sports betting campaign, Winning for Missouri Education, aims to allocate a portion of sports gambling tax revenue to public education.
Latest Polling
Recent polling suggests a close vote on Amendment 2 in Missouri. With a 3.3% margin of error, 52% of likely voters support sports betting, while 25% oppose and 23% are undecided.
Both campaign groups will target undecided voters over the next month and a half, with Winning for Missouri Education accusing Caesars of running a misleading campaign.
“Caesars opposes Amendment 2 to increase their share of the sports betting market, at the expense of Missouri’s schools,” said Jack Cardetti, spokesperson for Winning for Missouri Education.