We present an extensive experimental and theoretical study on the low-temperature magnetic properties of the monoclinic anhydrous alum compound BaMo(PO$_4$)$_2$. The magnetic susceptibility reveals strong antiferromagnetic interactions $theta_{CW} = -167$~K and long-range magnetic order at $T_N=22$~K, in agreement with a recent report. Powder neutron diffraction furthermore shows that the order is collinear, with the moments near the $ac$ plane. Neutron spectroscopy reveals a large excitation gap $Delta = 15$~meV in the low-temperature ordered phase, suggesting a much larger easy-axis spin anisotropy than anticipated. However, the large anisotropy justifies the relatively high ordered moment, N{e}el temperature, and collinear order observed experimentally, and is furthermore reproduced in a first principles calculations using a new computational scheme. We therefore propose BaMo(PO$_4$)$_2$ to host $S=1$ antiferromagnetic chains with large easy-axis anisotropy, which has been theoretically predicted to realize novel excitation continua.
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