MO SB862

Creates the "Missouri Video Lottery Regulatory Act" establishing a licensing framework for video lottery game terminals at retail locations, with a maximum of 8 terminals per retailer and a $4 maximum wager per game

Imposes a 31% adjusted gross gaming revenue tax plus a 3% municipality and county administration tax on video lottery revenue, with proceeds directed to public education (elementary, secondary, and higher education) and local governments

Establishes the "Illegal Gaming Enforcement Fund" to support prosecution of gambling violations, with portions distributed to the Missouri State Highway Patrol, Attorney General's office, prosecutors pension fund, and Missouri Veterans Commission

Increases excursion gambling boat admission fees from $2 to $4 per person, with $2 of the increase going to the Missouri Veterans Commission

Elevates the criminal offense of gambling from a class C misdemeanor to a class E felony and expands the definition of "slot machine" and "gambling device" to include electronic devices where outcomes are determined by any element of chance