Missouri Casinos May See Higher Loss Limits

JEFFERSON CITY, Missouri – As reported by the St. Louis Today: "The Missouri Senate narrowly gave initial approval late Tuesday to the casino industry's long-sought goal: eliminating the
  $500 loss limit.

"Republican leaders said the matter was urgent because Kansas legalized casinos this month. Missouri's casinos on the western side of the state would be at a competitive disadvantage and could lose patrons, jobs and tax revenue, said the bill's sponsor, Senate Majority Leader Charlie Shields, R-St. Joseph.

"The bill won preliminary approval on a bipartisan vote of 17-16; nine Republicans and eight Democrats supported the bill. For final approval, a constitutional majority of the 34-member body is required, so supporters must round up at least one more vote. Then the bill would move to the House.

"The plan would increase casino taxes and increase the number of casino licenses Missouri could issue. The extra money — estimated at $124 million to $160 million — would fund a new college scholarship program. Sen. Matt Bartle, R-Lee's Summit and a gambling opponent, led a filibuster that stalled a vote and resulted in a total of 13 hours of debate on the bill Monday and Tuesday.

"That logjam broke Tuesday night when Shields increased the proposed tax rate. However, his move alienated other senators, who said the tax could drive casinos out of the state.

"…The loss limit is the last remnant of rules approved by state voters when casino gambling was legalized in 1992.

"…Casinos have argued for years that the loss limit drives high rollers to Illinois, which keeps more from each gambler — $81 per patron at the two St. Louis-area casinos in Illinois, compared with $67 per patron at the three casinos on the Missouri side.

"…The Missouri Gaming Commission estimated that casino revenue would increase by $510 million a year if the loss limit were repealed. That, in turn, could generate about $110 million in taxes and fees for state government and home-dock cities…"