Saturday, February 16, 2019

Warrensburg Republican's bill would authorize sports wagering, video lottery terminals

(From Sen. Denny Hoskins, R-Warrensburg)

My legislation, Senate Bill 44, which authorizes sports wagering and video lottery terminals, was considered by the Small Business and Industry Committee a week ago.

That committee, which I chair, approved the measure with a “do pass” recommendation. Early this week, the full Senate began discussion on the bill.

Floor debate provides senators an opportunity to ask questions, state objections and offer suggestions for improvement in proposed legislation. The airing of SB44, which occurred Tuesday evening, was a textbook example of this process. 

A number of senators spoke at length about the bill and negotiations continued both on and off the Senate floor. This work will continue in the weeks to come as the Senate fine-tunes this bill.

There’s a lot of interest in this legislation, not only from sports fans, but also people who understand the potential economic impact to the state of Missouri. 

Allowing sportsbook and video lottery terminals could eventually bring more than $300 million in new revenue to the state of Missouri, with no increase in taxes. 

For a reminder of the potential of these measures, we only need to look at the loss of revenue the Missouri Lottery experiences due to illegal “grey” gaming devices. A recent study of Lottery retailers along Interstate 44 showed the state misses out on more than $1 million in Lottery sales from these vendors due to underground competitors

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