Mo. casinos want to toss loss limit
“At the same time, it allows casinos to compete more fairly with casinos in other states.”
Missouri voters might get to decide whether to lift the state's casino loss limit under an initiative filed by a coalition of gambling companies.
The proposal, filed with the secretary of state's office in Jefferson City late last week, also calls for freezing the number of casino licenses issued by the state at 13 and bumping the gaming tax on gross casino revenue to 21 percent from its current 20 percent.
The coalition, which calls itself 'Yes for Schools' and includes Ameristar Casinos Inc. and Pinnacle Entertainment Inc., will push its plan by arguing that it could boost casinos' annual tax contributions to Missouri education funds by $100 million. Read more
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#1 Jan 20, 2008
A very good idea, instead of Illinois getting 99% of the so called "High Rollovers" $ and with the recent downtown opening of Lumiere Place St. Louis now has the opportunity to cash in on the ever growing casino industry, plus with the limit gone and the extra tax dollars coming in there is no telling how much this could help the local and state economy, more tax dollars equal more jobs and better pay and a quality education for all Missouri residents.
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