Springfield Business Journal_2019-03-18

SPRINGFIELD BUSINESS JOURNAL · 49 MARCH 18-24, 2019 NEWS Continued on page 50 when crafting SB 222 and the Las Vegas tax rate of 6.75 percent was adopted for the bill. For the internet component of SB 222, the MGC would test and monitor the soft- ware used by the casinos. Bets would be placed at any of the 13 riv- erboat casinos in Missouri or from an on- line account through one of the casinos. “The persons who want to open a wager- ing account would go to the casino and open an account, and could wager anywhere in the state of Missouri,” Grewach said. Another Senate bill SB 44 is similar to SB 222 in how and where sports gambling would be conduct- ed and with license fee costs, but it differs in tax rate. SB 44 would impose a 12 per- cent tax on adjusted gross receipts with a 2.5 percent administrative fee, according to the bill’s language. Through both bills, a Springfield resident could set up an account at any Missouri ca- sino in person, then place bets back home in Greene County. The biggest difference is SB 44’s Mis- souri Video Lottery Control Act section, which would allow video lottery game terminals in bars, taverns, restaurants, fra- ternal organizations or veterans’ organiza- tions that have a liquor license, truck stops, convenience stores, liquor stores or grocery stores. College fraternities and sororities would be excluded from having terminals. The proposed lottery act would be simi- lar to the current law in Illinois, where the Video Gaming Act was passed in 2009 and went into effect in 2012. The Illinois law allows a maximum of five terminals at an establishment with a maxi- mum wager of $2, according to its language. SB 44 would allow five terminals per es- tablishment with a maximum wager of $5. Illinois receives 30 percent of the net ter- minal income from each of the 30,964 video game terminals at 6,773 locations, accord- ing to the Illinois Gaming Board, the entity which oversees gambling in the state. Betting nationwide The U.S. Supreme Court paved the way for states to decide how to handle sports betting in May 2018, when it struck down the 1992 federal law banning the practice after hearing the court case Murphy v. Na- tional Collegiate Athletic Association in December 2017. The case was in the legal system for nearly five years before being heard by the Supreme Court. The state pioneer of sports betting is Ne- vada, which was exempt from the federal Professional and Amateur Sports Protec- tion Act of 1992 that prohibited sports bet- ting. Nevada legalized all forms of sports betting in 1949. According to the American Gaming As- sociation, January 2019 was the first time wagers from the national sports betting market eclipsed Nevada with $503.1 million of all bets placed. Nevada reported $497.5 million in January, according to the gaming association. “The demand for legal sports betting is abundantly clear, with the majority of le- gal wagers now being placed in markets that didn’t even exist a year ago,” said Sara Slane, senior vice president of public affairs for AGA, in a March 1 news release. The AGA release states $998.8 million was legally wagered in January in seven states. Nevada posted record results from sports betting in 2017 with $248.8 million in state revenue on wagers of $4.87 billion, accord- ing to the AGA’s 2018 State of the States re- port. According to ESPN reports, eight states have full-scale legalized sports betting: Ne- vada, New Mexico, Mississippi, West Vir- ginia, New Jersey, Rhode Island, Delaware and Pennsylvania. Two states, New York and Arizona, recently passed a bill regard- ing sports betting while 29 states, including Missouri, have introduced bills that have not yet held a vote. Missouri first attempted sports betting legislature in January 2018, with former Rep. Bart Korman, R-Warrenton, introduc- ing House Bill 2320. Its last action was in April 2018 for a public hearing, according to the Missouri House of Representatives website. The bill was never scheduled for a vote. Gambling: Senate bill proposes tax rate of 6.75% Continued from page 12 ON THE RECORD Old Missouri Bank to SJF Investments LLC; 178,000; L97-100, Allen Place addition. Old Missouri Bank to P&E Investments Inc.; 1,497,000; sec. 35, twp. 29, range 23, NE and NW. Old Missouri Bank to A. Daniel Pinheiro; 3,410,000; L1, Ridge at Ward Branch, Phase I. Old Missouri Bank to MidAmerican Real Estate LLC; 115,400; L6, Crown Heights. PrimeLending to Philip and April Lachance; 112,520; L4, Webster Park, first addition. PrimeLending to Lynda S. Daniel; 122,550; L34, Deer Run, Phase II. Quicken Loans Inc. to Dennis R. Jr. and Ashley Nicholle Revell; 110,000; L22, McClernon Springs. Quicken Loans Inc. to Andrew and Sarah Thompson; 185,250; L17, Lakewood Hills South. Quicken Loans Inc. to Ronald C. and Nancy S. Fast; 134,900; L74, White Oaks. Quicken Loans Inc. to Thomas A. and Janine F. Wilson; 164,465; L8, Brookside, second addition. Quicken Loans Inc. to Leeroy Jr. and Erin Collins; 228,920; L13, Briarwood Terrace. Quicken Loans Inc. to Jack and Chasity Daniels; 135,400; L51, Countryland, Phase V. Quicken Loans Inc. to Shannon Renee Sorrells; 121,082; L3, Southwest Timbers, first addition. Regent Bank to We HR-Fourt LLC; 1,296,000; L20-24, W.H. Pipkin. Regions Bank to Law Office of the Ozarks PC; 250,000; 636 W. Republic Road, Stes. 104 and 108 65807. River Region Credit Union to Damian and Jennifer Probstfield; 208,000; L70, Stone Meadow, Phase II. Simmons Bank to Stephen R. Adams and Randall O. Doennig; 449,500; Units 14C-14D, One Parkway Place. Simmons Bank to Andrew Goodall and Jena Leigh Steele; 230,850; L7, Preston Woods. Simmons Bank to Matthew E. Geitner; 141,300; L77, Park Es- tates I. Simmons Bank to Virginia M. Shirato Trust; 144,500; L13, Quail Creek, Phase III. Simmons Bank to Jarrett and Deborah Dunlop; 103,125; L104, South Kickapoo Estates, fifth addition. Southern Bank to Brenart Properties LLC; 160,000; L3, Prime Time Properties. Southern Bank to Coryell Holdings LLC, S.E. Coryell Holdings LLC, Stinnett Properties LLC and Miller Commerce Assets LLC; 675,000; L1, Tera Vera II. Southern Bank to Justin R. and Amanel Humphreys and Matthew McNitt and RepMO Properties LLC; 600,000;