Missouri’s Lake of the Ozarks casino could open in 2026

According to the state’s top gaming regulator and a spokesman for the casino application, the licensing process will take at least six months and construction of the facility will take another 18 months, giving the casino a two-year time frame to open.

Casino giant Bally’s and an Eldon-based development company have financed the proposal, which, if approved, would create an entertainment complex on the Osage River, below the dam that created a popular boating and recreation spot in central Missouri.

Bally’s and Osage Landing Development Co. and RIS Inc. contributed $10 million to persuade voters to vote yes on the Fifth Amendment.

Bally’s operates 15 casinos in 10 states.

John Hancock, a spokesman for the project, said the ballot question for some is tied to the separate question of whether voters want to legalize sports betting.

That made voting on the initiative difficult, he said, adding that Tuesday’s results could be close.

“As people learn more, the polls get better,” Hancock said.

The project would require a change to the state constitution because the state’s current casino park of 13 casinos is limited to areas along the Missouri and Mississippi rivers.

If approved, the project is expected to create 500 construction jobs and more than 700 permanent jobs. Tax revenue from bettors will go toward early childhood education programs in public schools.

The project will also include a hotel, conference center and other retail space. It is expected to be built near the Osage River in the town of Lake Ozark on land that served as a quarry.

Auditor Scott Fitzpatrick’s report shows the casino could generate about $14 million a year. A financial analysis found that regulating and staffing the casino with nine Missouri State Highway Patrol officers would cost about $2.2 million a year.

Local governments are estimated to receive $2.1 million annually in admissions fees and other revenue.

Missouri Gaming Commission Director Mike Lira said he believes the agency will be able to complete the permitting process by mid-June 2025.

The new casino could eventually compete with another Lake of the Ozarks casino proposed by the Osage Nation.

The Osage Nation continues to wait for state and federal approval to build a tribal casino in the lake area.

A campaign committee affiliated with the tribe spent about $389,000 on a campaign urging voters to reject Bally’s project. However, the committee did not raise any money in October, according to Missouri Ethics Commission records.