Lake Ozark Board of Aldermen approves Osage Nation casino project
The board has approved agreements with the Osage Nation for the construction of a resort.
US.- The Lake Ozark Board of Aldermen has approved agreements with the Osage Nation for the construction of a hotel-casino in the city. It would be located at Bagnell Dam Boulevard and Business US 54/Osage Beach Parkway. The 27.6-acre site was bought by the Nation in 2021.
According to the document, the Osage Nation will pay the city of Lake Ozark a fee of 2.5 per cent of all adjusted gross receipts from gaming winnings on a quarterly basis. The Osage Nation will also collect a 1 per cent resort fee for paid hotel transactions, which will then be paid to the city, along with a $100,000 annual payment for services from the Lake Ozark Police Department.
Mayor David Ridgely said: “This partnership with the Osage Nation represents a defining moment for the City of Lake Ozark. These agreements show what can be achieved when governments work together in good faith to strengthen our community and prepare for the future. The Osage Nation’s investment will bring new opportunities, jobs, and tourism to our city. Now that we have these agreements in place, that address many of the questions raised by our residents, we are proud to support this historic step forward.”
Last year, voters rejected amendment 5, which would have allowed an additional gambling boat licence on the Osage River near the Lake of the Ozarks. The measure was rejected by a 52-48 per cent margin.
