Missouri Senate Eliminates $500 Casino Loss Limit

On Tuesday, the Missouri Senate gave initial approval to the elimination of the state’s $500 loss limit for casinos. The margin of approval was narrow, but this will no doubt please casino owners who will be able to fleece customers even more than usual.

The matter was viewed as being particularly important due to the fact that Kansas legalized casino gambling this month, and it was believed that western Missouri casinos would be adversely affected in the form of lost tax revenue, jobs, and customers.

The bill received a bipartisan vote of 17-16, with nine Republicans and eight Democrats voting in favor. To be officially approved, a majority of the 34-member body is required, so politicians in favor of the bill will have to scramble about and find one member of the opposition to jump the fence. If they can manage that, then the bill will move on to the House.

Supporters argue that eliminating the $500 cap would increase casino taxes and increase the number of casino licenses that the state could issue. It’s estimated that the extra money would increase casino revenue by about $510 million, and this would result in taxes and fees for the state in the range of between $124 and $160 million. This money would be used to fund a college scholarship program.

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Missouri Senate Eliminates $500 Casino Loss Limit