Missouri Loss Limit Causes TornadoPublished August 10, 2008 by OCR Editor
South wind blows in as State Government, organizations and local municipalities divide over whether to abolish the $500 gambling loss limit.
The state known as being the East-West crossroads is experiencing a decidedly South wind, as state officials and organizations divide over repealing the $500 gambling loss limit and other regulations in favor of a casino-tax hike.
The raucous debate has drawn in everyone from school organizations to local municipalities to anti-gambling groups, as the State prepares itself for the November vote.
For and against
The toughest proponent for repealing the law is easily the ‘Missouri Chamber of Commerce and Industry,' which argues that canning the "outdated" law would shield over 12,000 jobs and over $100 million extra tax dollars from up-and-coming Kansas casinos that aren't impeded by the loss limit.
Also joining the anti-loss limit forces is Scott Charton of the ‘Yes for Schools First' Coalition, who claims that the $100 million tax boost could be used for schools statewide.
Repealing the law, he argues, "will let Missouri... keep and attract more visitors and revenues here, to benefit our economy and our schools."
Against removing the loss limit are anti-gambling groups, as well as the municipalities of Sugar Creek and Cape Girardeau who are fighting to introduce casinos into their communities.
How the limit works
Gamblers are currently only allowed to purchase $500 worth of poker-machine credits or table-chips every two hours, a step which is safe-guarded by the mandatory use of identity cards.
To balance the removal of the loss limit and the use of identity cards, the industry and the government have agreed to a 1% tax rise on casino revenues, as well as a limit of 13 casinos that may exist state-wide.