Casinos spend big
to repeal gambling loss limits in MO
operators Ameristar Casinos and Pinnacle Entertainment donated
half a million dollars to a coalition fighting the loss limits
in Missouri, according to a filing with the Missouri Ethics
Commission. The two casinos donated $250,000 each to "Yes for
Schools First" - a campaign seeking to repeal the current $500
in 2 hours loss limit at the state's casinos and raise the
casino gambling revenue tax from 20% to 21% and use the extra
money for education. The Missouri Gaming Association also
contributed to Yes for Schools First with $12,948. To date,
Ameristar Casinos has donated $1.21 million to the coalition and
Pinnacle Entertainment donated $1.19 million.
According to Missouri law, casino
patrons are allowed to gamble only up to $500 in any given 2
hours period, but competition from the Kansas casinos sparked an
outcry from the Missouri gambling industry to remove the limits
because they were loosing customers to the out-of-state casinos.
The tax money lost to Kansas casinos are estimated at around $40
million per year.