A bill prefiled in the Missouri Senate:

SB 767
Creates the Missouri Video Lottery Control Act
Sponsor: Hoskins
LR Number: 4671S.02I
12/4/2017 – Prefiled
Effective Date: August 28, 2018
[….]
SB 767 – This act establishes the Missouri Video Lottery Control Act.

This act allows the State Lottery Commission to implement a system of video lottery game terminals and to issue licenses to video lottery game manufacturers, operators, handlers, and retailers, as defined in the act. The Commission shall not allow a single vendor or licensee to be responsible for implementing the program, nor shall it allow a single vendor or licensee to control or operate more than twenty-five percent of video lottery game terminals in the state.

The Commission may impose a non-refundable application fee, as described in the act. Manufacturers, operators, handlers, and retailers shall be required to annually remit a license fee, and licensees shall be required to renew licenses every two years. The Commission shall issue provisional licenses as described in the act.

Video lottery game terminals shall be independently tested, capable of randomly generating the outcome of games, and be able to print tickets.

No licensed video lottery operator shall offer a single game play exceeding two dollars or offer a pay-out for a single game-winning play in excess of five hundred dollars. To combat problem gambling, video lottery game operators shall provide a pre-commitment system that allows players to set daily and aggregate bet limits and to self-exclude themselves from play. Operators shall not operate more than five terminals at one retail establishment, except fraternal or veterans organizations may operate up to ten terminals.

Video lottery game operators are prohibited from offering anything of value other than the percentage of adjusted gross receipts to a video lottery game retailer for the placement of video lottery terminals. Persons violating such prohibition are subject to the loss or prohibition of his or her video lottery game operator’s license.

Video lottery game operators shall pay to the Commission thirty-two percent of any unclaimed cash prizes associated with winning tickets that have not been redeemed within one year of issue.

Video lottery game operators shall pay to the Commission thirty-six percent of the video lottery game adjusted gross receipts. The first $100 million of such adjusted gross receipts shall be appropriated for public institutions of higher education. The next $10 million of such adjusted gross receipts shall be appropriated for virtual elementary and secondary education. The remaining adjusted gross receipts shall be appropriated for public elementary and secondary education, with the first $10 million of such adjusted gross receipts appropriated for virtual elementary and secondary education course access programs. The Commission shall compensate the administrative costs of the city or county in which a video lottery retailer maintains an establishment in an amount equal to five percent of the video lottery game adjusted gross receipts. Sixty-four percent of video lottery game adjusted gross receipts shall be retained by video lottery game operators and shall be split between video lottery game operators and video lottery game retailers as provided under an agreement.

All revenues collected by the Commission from license renewal fees, administrative fines, and any reimbursements associated with the enforcement of the act shall be distributed as described in the act.

Participation in the state lottery under this act shall not be construed to be a lottery or gift enterprise in violation of Article III, Section 39 of the Constitution of Missouri, and shall not constitute a valid reason for the denial or revocation of a permit to sell liquor.

This act allows a municipality or county to adopt an ordinance within ninety days of the effective date of this act prohibiting video lottery game terminals within the municipality or county.

This act is substantially similar to SB 452 (2017) and is similar to HB 990 (2017).
[….]

“…The first $100 million of such adjusted gross receipts shall be appropriated for public institutions of higher education…”

If there are any left.

Sure, that’ll be a really stable way to fund investment in the future.