Missouri casino gambling limits soon to be
Missouri was the only
state which placed limit to the amount you can gamble at the
On Tuesday, with a very
close margin (17-16) an initial approval was given by the state
Senate for a bill which would remove the limits. According to a
previous legislation, casino patrons were 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.
The bill to remove the
limit on how much you can gamble met a strong opposition, part
of which backed down after a modification which added 4.5% to
the taxes on the casino revenue. The additional gambling tax
will be used for college scholarships for students who qualify
and the exact amount of those scholarships would depend on the
actual amount collected and the number of approved applications.
The new bill is also
limiting the casino licenses to 16 and three more casino boats.
Opponents of the proposed
casino legislations agree to the current text of the bill in
hopes that the new tax is way too high for the bill to pass.
The bill still needs to
pass a second vote at the state Senate.