Published on: September 25, 2024, 11:09h.
Last updated on: September 25, 2024, 11:09h.
Bally’s Corporation and its partners have revealed plans for a casino resort at the Lake of the Ozarks in Missouri.
The project was presented to the City of Lake Ozark Board of Alderman for initial review by Osage River Gaming & Convention (ORGC) on Tuesday evening.
The designs feature a 20-story hotel tower with views of Highway 54 near the Osage River. The project also includes extensive convention facilities and large parking areas.
The proposed site is a former quarry close to the iconic Lake of the Ozarks sign at the intersection of Highway 54 and Route 242. While the Alderman have seen the plans, a vote on the design awaits statewide approval of Amendment 5 in November.
November Ballot
ORGC successfully gathered support from voters for an initiative to expand gambling in Missouri. Amendment 5 seeks to allow commercial casino gaming along the Osage River, expanding from the current restrictions to the Missouri and Mississippi rivers.
This amendment would also raise the cap on commercial casino licenses from 13 to 14. Despite being a land-based casino, the proposed Bally’s resort would comply with the state’s riverboat gaming laws by being within 1,000 feet of the Osage River.
Over 320,000 signatures in support of the Ozarks casino were collected by ORGC.
In August, Missouri State Secretary Jay Ashcroft initially rejected the campaign’s signatures in the 2nd Congressional District. After legal action was taken, the oversight was rectified, and the campaign was cleared for the November 5 ballot.
Competition from Tribes
ORGC, a group of local investors led by real estate developer Gary Pruitt, has been lobbying state lawmakers since 2009 for changes in gaming laws without success.
Following the Osage Nation’s acquisition of a hotel property for a tribal casino, ORGC initiated a constitutional referendum campaign with Bally’s as a partner to counter the tribal project.
The tribe is pursuing federal approval for the property to be sovereign land, a lengthy process that requires demonstrating historical ties to the acquired site.
Missouri is expected to have a significant turnout due to an abortion referendum. Voters will also decide on sports betting, including in-person and online options if Amendment 2 is approved.
Amendment 2, supported by DraftKings and FanDuel, would allow retail and online sports betting through Missouri’s casinos and sports stadiums. Additionally, two online sportsbooks independent of physical locations would be permitted with voter approval.