Mo. gambling collections fail to meet fiscal 2015 projections

Missouri gambling revenue has failed to meet projections for fiscal 2015, with both lottery and riverboat gaming collections experiencing declines.

The Missouri Lottery contributed $94 million through October to education funding for the state, a decrease of 2 percent compared to the $95.9 million in collections through the same time period last year, according to a news release. The state’s fiscal year began July 1.

The fiscal 2015 budget calls for $299 million in lottery proceeds for education, a mark that would require 11.8 percent growth of fiscal 2014. If the current decline of 2 percent continues, it would result in a lottery collections budget shortfall of $37 million, according to the Missouri Office of Administration.

Collections from riverboat gambling contributed $107 million to education through October, a 1 percent decrease compared to $108.1 million in the same time period during fiscal 2014, according to the release.

The state budgeted for $340 million from riverboat gaming collections, requiring an 8.1 percent growth rate from fiscal 2014. However, if the 1 percent decrease continues, it would result in a shortfall of $28.7 million.

Combined, education funding from gambling collections could fall short by $65.7 million at present rates.