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Casinos spend big to repeal gambling loss limits in MO

Casinos spend big to repeal gambling loss limits in MO Gambling 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.

 Published on 07/17/2008

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