JEFFERSON CITY — State Sen. Denny Hoskins, R-Warrensburg, presented Senate Bill 767, The Video Lottery Act, to the Veterans and Military Affairs Committee where the bill received considerable support from video gaming operators, education advocates and veterans. Supporters said implementing video lottery terminals (VLT) in businesses could open up opportunities for job creation as well as a new source of revenue for Missouri’s schools.
“With the proposed cuts to higher education and approximately 1,800 veterans on the waiting list for housing, the passage of this bill would provide a much needed funding source for the issues some of our most vulnerable citizens are facing,“ said Sen. Hoskins.
Senate Bill 767 proposes the expansion of video lottery machines into local businesses where up to five video lottery terminals would be managed by operators licensed through the Missouri Lottery. In addition, up to 10 terminals can also be placed in fraternal or veterans organizations. As a VLT retail site, fraternal and veterans organizations will receive 32 percent of the revenue generated by the terminals, while also reaping approximately $4 million in additional funds gained from the licensing renewal fees starting in 2020.
The bill calls for all VLT locations to be in compliance with lottery regulations, where only consumers aged 21 years and older are permitted to play. If the bill is passed, the Department of Elementary and Secondary Education and Department of Higher Education would receive 32 percent of the revenue generated by the VLT machines. In addition, VLT operators would also receive a 32 percent a cut of the generated revenues with the remaining revenue going back into the local community.
“Even in a tough budget year, my goal is to find a way to help support our veterans and schools in a cost effective way and I look forward to discussing my proposals with my colleagues in the Missouri Senate,” said Sen. Hoskins.
The Veterans and Military Affairs Committee plans to vote on the proposal in the coming weeks.
For information about Sen. Hoskins, please visit his official Missouri Senate website at senate.mo.gov/Hoskins.
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