Sen. Denny Hoskins Files Sports Wagering and Video Gaming Legislation to Fund Missouri Veterans and Classrooms
Wednesday, December 14, 2022
Senator Denny Hoskins’ Sports Wagering and Video Gaming Legislation Will Generate Significant Revenue for Missouri Veterans and Classrooms
JEFFERSON CITY - State Sen. Denny Hoskins, R-Warrensburg, announces he is championing legislation during the 2023 legislative session to legalize sports wagering and allow safely regulated video lottery terminals (VLTs), which will produce significant new revenue for Missouri veterans, classrooms, Main Street small businesses and local communities.
“Missouri is missing out on significant financial resources for veterans, classrooms, Main Street small businesses and local communities because of inaction on video lottery terminals,” said Sen. Hoskins. “Now is the time for the Missouri Legislature to take action and enact comprehensive gaming legislation that includes sports wagering and video lottery terminals, so we can benefit communities across Missouri, not just a handful of gaming locations in the state.”
Missouri is surrounded by states that allow their residents to engage in sports wagering. Senator Hoskins' bill would allow for mobile wagering on sports with licenses held by casinos and professional sports teams.
In addition to legalizing sports wagering, Hoskins' Senate Bill 1, the “Honoring Missouri Veterans and Supporting Missouri Education Act,” gives the Missouri Lottery Commission the authority to issue licenses for video lottery gaming terminals. The legislation would allow a limited number of VLTs in veterans’ halls and posts, bars and restaurants licensed to sell liquor by the drink and truck stops.
The revenue generated by video lottery would be equally divided, with 32% going to Missouri’s public elementary, secondary and higher education institutions; 32% going to organizations and businesses that place VLTs in their locations, including veterans organizations and small businesses; 32% going to the operators of VLTs; and 4% going to local communities in which businesses and organizations with VLTs are located.
A fiscal analysis of Sen. Hoskins’ legislation suggests the state of Missouri could receive as much as $250 million annually through VLTs. The businesses and organizations that host the terminals would also see a similar share of the VLT business in Missouri.
Senator Hoskins points out the Missouri Legislature had to supplement $50 million in the current budget to fund veterans homes and veterans cemeteries. Under his legislation, sports wagering is expected to bring in $10 million in annual revenue to the state, but that amount is significantly less than the $250 million VLTs will deliver for veterans and other state government priorities.
Under SB 1, VLTs would be regulated under the Missouri Lottery Commission. To ensure safe environments, VLTs would be required to be placed in fully enclosed rooms, monitored by video surveillance and supervised to ensure no one under 21 is allowed access.
For information about Sen. Hoskins, please visit his official Missouri Senate website: senate.mo.gov/Hoskins.