A freeze on regulations issued by Missouri’s newly sworn Governor may delay planned upgrade across state casinos, as reported by local media.
Shortly after taking office last week, Gov. Eric Greitens issued an order, under which new regulations cannot be introduced by state agencies. In addition, existing rules are to be reviewed by Missouri’s top official and his administration.
Being a state-run agency, the Missouri Gaming Commission has also been affected by the freeze. Apart from Missouri’s 13 brick-and-mortar casinos, the regulatory body is also charged with monitoring the state’s newly regulated daily fantasy sports market.
The state’s casino industry has formerly announced plans for equipment upgrades at brick-and-mortar venues as well as for other operational changes. However, Gov. Greitens’ temporary ban on new regulations may bring undesired change of course or at least delay the process. Here it is important to note that modifications of this type at cannot occur at local casinos without the Gaming Commission’s assent.
Missouri’s casino revenue in 2016 remained relatively flat as compared to what was generated a year earlier, figures by the regulator showed. The state’s 13 casinos generated a little more than $1.7 billion last year. The amount reported reflected an increase of 0.8% from 2015.
According to gambling analysts the state’s casino industry will remain stable in the years to come, despite the growing competition from neighboring Illinois, where legislators are considering further expansion.
Last year, Missouri became among the states to recognize the potential of daily fantasy sports by adopting a legislation that regulated that type of offering. Former state Gov. Jay Nixon embraced the idea for the DFS legalization even before it was put on the table. A bill on the matter was signed into law in mid-2016.
Now, half a year later, daily fantasy sports contests enjoy popularity among a younger Missouri demographic. Analysts believe that the DFS regulation will not have any negative impact on the casino industry as the two types of offering attract different types of customers. While, as mentioned above, DFS contents appeal to younger customers, casinos being facilities with longer heritage, mostly welcome patrons from more mature demographic groups.
