The Missouri Gaming Commission, the regulatory body of riverboat casinos, charitable games, and fantasy sports contests in Missouri celebrated its 30th anniversary this Wednesday. Workers and officials at the state government office gathered in Jefferson City to mark the occasion and observe the industry’s contribution to the state’s well-being and prosperity.
According to an official summary of fund transfers from the Gaming Commission Fund, since its inception, the regulator has allocated more than $1 billion from casino admission fees to veterans, higher education, and compulsive gambling organizations.
The financial records of the commission for FY 2023 indicate that $11.2 million has been transferred to the Veterans Commission, $4 million – to the Missouri National Guard Trust Fund, $5 million – to the higher education assistance fund, and $100K – to the Compulsive Gamblers Fund.
From 1994 to 2023, the Missouri Gaming Commission transferred a total of $395.1 million to the Veterans Commission Capital Improvement Trust Fund, $95 million to the Missouri National Guard Trust Fund, $121.5 million to the higher education assistance fund, and $5.4 million to the Compulsive Gamblers Fund. The Early Childhood Development, Education and Care Fund received a total of $425.8 million until FY 2013, when it was removed from the distribution formula.
Missouri’s 13 legal casinos are taxed at a rate of 21% of their revenue, with 10% going to the city or county where the gambling establishment is located, and 90% – to the Missouri Gaming Proceeds for Education Fund.
While excursion and dockside casino gaming are authorized within the state, the future of sports betting remains unclear. State legislators have failed to legalize sports betting for years. However, as the 2024 legislative session approaches, the hopes of launching Missouri sportsbooks are being rejuvenated. Many have been actively engaged in changing the current state of affairs.
The Missouri Gaming Commission is Ready to Regulate Sports Betting
At the event marking the 30th anniversary of the Missouri Gaming Commission, Peggy D. Richardson, Executive Director of the regulatory body, commented on the topic of sports betting’s future in the state. As she said, the state regulator “stands ready to regulate that industry as well”.
Jan Zimmerman, Chairman of the Missouri Gaming Commission, added that all of the commission’s employees are prepared to meet the demands of regulating the sector if it is added to the list of regulated forms of gambling in Missouri. She also shared her beliefs that the commission would continue to successfully provide benefits to the above-mentioned organizations, irrespective of sports betting’s future in the state.
Missouri’s professional sports teams have banded together to express their support of sports betting legalization and get it on the ballot in 2024. If a sufficient number of signatures gets collected in the petitions, Missouri’s residents can vote on whether sports betting should be legalized.