Over 320,000 Missourian voters have signed a petition seeking to greenlight a casino at Lake of the Ozarks. After four consecutive failures to get the casino question on the ballot, the matter may finally be put to voters.

For context, the Missouri constitution only allows casinos to be constructed near the Missouri and Mississippi rivers. This means that the people of the state must vote in favor of a constitutional amendment in order to expand the list of waterways that allow gaming.  

The signatures will now be verified by the state. For reference, the number of certified signatures needed to get the matter to the ballot is approximately 173,000.

If the Lake of the Ozarks casino secures the Missourian voters’ approval, the state will get a new resort featuring a hotel, casino, spa, restaurants, shops and a convention center, among other facilities. This is a significant departure from the traditional riverboat model other casinos in the model still use.

While Missouri legally defines casinos as “excursion gambling boats,” it interprets this term rather broadly and, in 2021, amended the definition to include “nonfloating facilities.” Casinos can also be on the shore, as long as they are within 1,000 feet of the Missouri or Mississippi River and have at least 2,000 gallons of water inside or underneath the facility in rigid or semi-rigid containers, tanks or structures.

The Project Will Provide Benefits to the Local Economy  

The Lake of the Ozarks casino question is being promoted by the Osage River Gaming & Conventions (ORGC) investor group. The group, which turned to polling after failing to get the casino matter to appear on the ballot previously, is optimistic about its momentum.

The organization pointed out that the project will generate significant benefits for the local economy. For example, tax revenue from the project will provide local schools with a significant boost. Local revenue, on the other hand, will fuel a variety of public services, including infrastructural upgrades.

Additionally, proponents expect the Lake of the Ozarks casino to bolster tourism. The 20-acre property’s facilities will provide a variety of entertainment options to gaming and non-gaming visitors alike.

The new property will be run by Bally’s Corporation and will create between 700 and 800 permanent jobs.

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Thailand is inching closer to the launch of legal casino gaming as the recent casino legislation continues to make strides. The measure, which would allow for the construction of resorts featuring casinos, was passed by a landslide by Thailand’s House of Representatives last week.

Overall, 253 representatives out of 257 House members voted in favor of the legislation, demonstrating the overwhelming support for casino gaming. As a result, the measure will now be able to reach the national cabinet.

Under the measure, up to eight licenses could be issued to casino developers. If approved, this legislation could create many opportunities in the region.

Additionally, experts believe that Thailand’s potential casino framework will feature lower tax rates, making it more appealing to international casino companies. The proposed GGR tax is low at 17% while the framework itself is expected to be similar to Singapore’s model. Furthermore, Thai casino licenses are expected to have 20-year terms and possible renewals every five years.

Experts expect Thailand to require casino companies to invest no more than $2.5-$3.5 billion in the region.

Thailand Could Beat Japan to It

Some believe that Thailand’s quick legislative strides could help it launch its first casino before Japan does. For reference, MGM Resorts is currently working on an integrated resort in Osaka, which is expected to open in 2030.

While Japan is technically still ahead when it comes to casinos, Thailand’s legislative efficiency could potentially lead to quick legalization and the rapid creation of a regulatory framework. As a result, Thailand’s first casino resort could potentially open before MGM’s property in Osaka.

Analysts’ rosiest predictions say that the first Thai gambling property could open its doors in 2029, giving the country a head start.

In terms of economic benefits, the casino resorts are expected to attract many foreign tourists, turning Thailand into an alternative to Macau and Singapore. Experts say that casinos could lead to a 52% uptick in tourism spending.

In terms of potential bidders, Thailand is expected to attract many of the most influential casino companies in the world. MGM Resorts is certainly following the latest developments closely, as disclosed by CEO Bill Hornbuckle.

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