Lake Ozark enters agreement with Osage Nation for casino, greenlights second private project

Lake Ozark city leaders greenlighted two separate casino projects within the city during a meeting on Wednesday. 

The city Board of Aldermen unanimously passed two bills that strike a deal with the Osage Nation. The tribe plans to construct a hotel and casino at the corner of Bagnell Dam Blvd. and Osage Beach Pkwy.

“It is about being that good community partner, but for us it’s about coming home,” said Osage Nation CEO Kimberly Pearson. The $100 million casino, hotel, and entertainment complex marks the largest project the tribe has been involved with.

The tribe is currently working with the federal government to get its gaming facility approved. Osage Nation members say they hope to open a welcome center in Lake Ozark in just a few months to showcase their culture.

Separately, the Board unanimously approved a resolution in support of a proposed private investor casino near the Osage River. The group behind the project had previously tried to pass a constitutional amendment in 2024 that would have been required in order to receive a state gaming license. However, Missourians rejected the amendment by a vote of 52.5% NO to 47.5% YES.

The group is now seeking to revive the project, working under a new name: “Lake of the Ozarks Community Gaming.” The group is also no longer partnered with Bally’s, with new renderings of the casino having removed all references to the casino operator. The group said it is now opting not to select a casino operator until after the amendment passes, reports LakeExpo.

As part of its deal with the Osage Nation, the city will have little say over its casino. Lake Ozark has agreed to provide utilities and policing, while the tribe has agreed to a fee in lieu of typical taxation (which the Osage would not be subject to). The city estimates this could result in around $1.9 million per year in revenue.

In contrast, the private investor group would be subject to state, county, and city ordinances and codes, in addition to any tax incentive measures they may seek in order to help pay for construction.

The investment group awaited the city's blessing before moving forward. Andy Prewitt, one of the investors, told LakeExpo that the city's support of the casino allows them to work on the redraft of the ballot language and submit it to the Missouri Secretary of State, "hopefully this week or early next week.”

The investors hope to use the Citizen Initiative Petition process (signature-gathering) to place the proposed amendment on Missouri’s general elections ballot in November of 2026.