DraftKings parent company injects $3.5 million into Missouri sports betting campaign

In an attempt to sway Missouri voters in favor of legalizing sports betting, DK Crown Holdings, the parent company of Boston-based DraftKings, has contributed $3.5 million to support the ballot initiative for regulated wagering. The financial boost was disclosed in a recent filing with the Missouri Ethics Commission and is part of an ongoing campaign to establish a legal framework for the activity in the state.

This donation to the political action committee (PAC) Winning for Missouri Education has propelled the campaign’s total fundraising efforts past the $10 million mark. The timing of the contribution is noteworthy, coming just three days after the Missouri Secretary of State confirmed that the initiative had garnered enough valid signatures to secure a spot on the November ballot.

The ballot initiative, if passed, would align Missouri with 38 other states that have already legalized sports betting, including seven of Missouri’s eight neighboring states. The proposal outlines that revenue generated from sports betting would be directed toward public education and programs addressing gambling addiction.

Jack Cardetti, a spokesperson for the campaign, emphasized the importance of the upcoming efforts to inform the electorate. "Now that we are officially on the ballot, we’ll be over the next two and a half months talking to Missourians across the state about why it makes sense to set up a legal sports betting framework that helps public education,” Cardetti stated.

Public opinion appears to be in favor of the initiative, with polling data from Emerson College in February and a subsequent poll by St. Louis University and YouGov in March indicating that over 60% of Missourians support legalizing sports betting. This support seemingly spans across political parties and includes both urban and rural areas of the state.

Backing the initiative are all six of Missouri’s professional sports teams, including the St. Louis Cardinals, St. Louis Blues, St. Louis City SC, Kansas City Chiefs, Kansas City Royals, and the Kansas City Current. In addition to Draftkings, the initiative also has the endorsement of FanDuel, another sports betting giant.

Cardinals President Bill DeWitt III stated: “On behalf of all six of Missouri’s professional sports teams, I would like to thank everyone who signed a petition to get this on the ballot. A vote for Amendment 2 in November is the right thing to do for both Missouri public schools and our favorite sports teams.”

If approved by voters, the measure would establish a 10% tax on sports betting activities and permit Missouri’s professional sports franchises and the state’s 13 casinos to offer both retail and online sports betting. The Missouri Gaming Commission would be tasked with regulating the industry, while 10% of the gaming tax would be allocated to the home-dock cities or counties for services provided.