Casino Expansion and Gaming Measures Face Voters in Multiple States

Voters across several U.S. states will weigh in on a variety of gaming-related ballot initiatives. These measures span casino expansions, sports betting legalization, and adjustments to gaming tax allocations, reflecting the growing influence of gambling on state economies. From Virginia’s proposed casino resort to Arkansas’s casino license dispute, each state’s decision could reshape its gaming landscape.

Virginia Eyes Casino Resort in Petersburg

Virginia voters in Petersburg will decide on whether to welcome a $1.4 billion casino resort proposal led by The Cordish Companies. This project, if approved, promises substantial economic benefits, including $2.8 billion in projected impact over a decade and $240 million in local tax revenue. The Petersburg City Council selected Cordish over several contenders, bying a competitive bidding process, which drew some local scrutiny. Originally, Virginia’s lawmakers designated Richmond for a casino, partnering with Urban One. However, Richmond’s residents rejected the plan in both 2021 and 2023, prompting legislators to transfer the casino opportunity to Petersburg.

Casino industry analyst Brendan Bussmann anticipates favorable voting outcomes in regions already familiar with gaming. “Gaming in states where it’s already been approved at the ballot will continue to see that in the foreseeable future,” he noted, underscoring the momentum gaming expansions tend to have once established. The proposed facility would include a 200-room hotel, dining, and entertainment options, with an initial phase anticipated to open within a year. Though the path to this point has been challenging, Bussmann expects voter approval.

Missouri voters will consider two major gaming measures. Amendment 2 seeks to legalize and regulate sports betting across the state, establishing a 10% tax on revenues. If ed, the Missouri Gaming Commission would license sports wagering, benefiting the state’s education sector and addiction prevention programs. This initiative has gained backing from major sports teams like the Kansas City Chiefs and St. Louis Cardinals. Despite its strong , recent polls indicate the vote could be tight, with Bussmann highlighting the critical role of voter turnout.

Amendment 5, also on the ballot, proposes adding a casino license for a location near the Lake of the Ozarks, a popular Missouri destination. Currently, Missouri’s constitution only permits riverboat casinos along the Mississippi and Missouri rivers, limiting the state to 13 licenses. Bally’s Corporation and a local developer have spearheaded this proposal, with Bally’s reportedly contributing $1 million to the campaign. Bussmann cautions that voter confusion over having two casino-related measures on the ballot might impact results, as unclear distinctions could sway undecided voters to oppose both measures.

Arkansas Considers Casino License Repeal in Pope County

In Arkansas, voters face Issue 2, which would revoke a contentious casino license in Pope County, an area where public for a casino has been divided. Cherokee Nation Entertainment holds the current license for its Legends Resort & Casino, yet the ballot measure seeks to cancel this authorization and mandate voter approval for any new casino licenses within the county. Years of legal battles surrounding this license have seen court challenges and intense debate, with Bussmann suggesting that this vote may bring a much-needed resolution. “Overall, casinos have done well in Arkansas,” he noted, but the controversies have persisted. A favorable vote could allow the county to have the final say over casino development moving forward.

Colorado’s Proposition JJ would allow the state to keep sports-betting tax revenues exceeding the existing $29 million cap to water conservation projects. Since legalizing sports betting in 2019, Colorado’s tax revenues have exceeded initial projections, highlighting the need for funds to address the state’s water resource needs. Without Proposition JJ, tax proceeds over the cap would return to sports betting operators. The success of sports betting tax revenue is evident in Colorado, where voters narrowly ed the initial measure by just 13,000 votes. Bussmann, however, expects Colorado voters to back Proposition JJ, as the initiative directs funds to critical conservation efforts.

Maryland’s Gaming Expansion Proposal for Chesapeake Beach

In Chesapeake Beach, Maryland, voters will decide on a measure to expand gaming in the town, potentially including additional bingo machines, slots, and table games. Chesapeake Beach, a small bayside town, previously rejected gaming expansion in 2020, and subsequent attempts to push similar proposals through the state legislature failed. Local opposition has historically influenced these decisions, and Bussmann anticipates local concerns will shape the outcome of this year’s vote.

These ballot measures highlight differing regional priorities and approaches to gaming expansion. While some states are focusing on economic and social impacts, such as education and water conservation, others like Arkansas are revisiting the specific of casino licensing. As each state prepares for election results, the outcomes could reshape local economies and gaming industries across the country.

Source:

”Voters to decide on casino expansion, sports betting, and other gambling-related ballot questions”, cdcgaming.com, November 03, 2024.