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Missouri casinos waste little time eliminating loss limit

November 11, 2008 By

The winning candidates from last week’s elections have to wait until the Secretary of State’s Office certifies the results of the voting before their victories move from the unofficial to the official category, but an initiative approved by voters is already in effect. It’s Proposition A – the initiative to do away with casino loss limits and, in turn, to increase the amount of casino dollars going to public schools.

Mike Winter, Executive Director of the Missouri Gaming Association – which represents the casinos operating in the state – says the Secretary of State has already determined that the initiative was approved and should be implemented, and the State Gaming Commission confirmed that on Friday. By Friday afternoon, the casinos throughout the state were already doing away with the need for the machines to operate through use of the player’s cards.

Approval also caps the number of casinos in the state at 13 – the existing 12 plus one under construction in St. Louis County.



Download/Listen: Steve Walsh report (:60 MP3)

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Supporters and opponents spar over positives and negatives of Prop A

October 27, 2008 By

One of the five statewide issues Missourians will vote on next week will be Proposition A – a measure that would do away with the $500 loss limit at Missouri casinos and provide additional money for public schools. Scott Charton, representing the Yes on Prop A forces, says the additional revenues must be set aside for education.

Approval of Proposition A would also cap the number of casinos at the number of boats that currently exist or are under construction. In addition, it would raise the gambling tax from 20 to 21 percent.

The Casino Watch Committee is the main opponent to approval of the initiative. Casino Watch’s Evelio Silvera says there are no guarantees that additional money will be raised for education. He adds any additional revenues could be a wash in that the extra dollars would go to education, but the General Assembly could respond by withholding the same amount of general revenue dollars from schools.

Silvera claims the only way $100-million in additional revenue could be added to education is if Missourians lose an additional $500-million in the casinos.

Download/Listen: Steve Walsh report (:60 MP3)

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Proposal promises money for schools if gambling lost limits lifted

August 4, 2008 By

The campaign is called "Yes for Schools First", but the proposal set for the November ballot would benefit the gambling casinos of Missouri by removing the last remaining regulation approved by voters in 1992.

"Yes for Schools First" spokesman, Anne Marie Moy, tells the Missourinet that if the initiative passes this November, it will provide an extra $100 million for schools.

"It’s going to do that by increasing the state tax casinos pay to 21%," says Moy, "and by updating some outdated regulations."

Moy is referring to the $500 loss limit voters approved when they authorized riverboat gambling in Missouri. It’s the only regulation left from the 1992 initiative that approved gambling in Missouri. There are no cruises anymore. The boats aren’t even boats. They’re riverside casinos.

Casinos have been unsuccessful in pushing the legislature to lift the loss limit, so they have decided to turn to the voters. In exchange for lifting the loss limit, the casino gambling tax will increase from 20% to 21%. Another factor in this initiative:  no more casinos will be allowed in Missouri.

We asked Moy if calling the initiative "Yes for Schools First" might be misleading, since it seems to benefit the boats the most.

"Well, you know, the Schools First initiative is going to do a lot of important things," Moy replies, "The name of our initiative underscores the most important thing it’s going to do and that is to generate more than $100 million a year a year for Missouri schools."

It is estimated $105-to-130 million as well as $5-to-7 million for higher education, early childhood development, veterans and others, if voters approve what the legislature has so far rejected. 

 

Download/listen Brent Martin reports (1:20 MP3)

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Missouri Gaming Commission issues moratorium on new casino applications

June 16, 2008 By

The Missouri Gaming Commission has unanimously approved a resolution instituting a moratorium on the acceptance of new applications to open and operate casinos.

Only one casino company, Wild Rose of Iowa, has paid a $50,000 fee to the Gaming Commission for consideration of the company opening a casino at Sugar Creek in Jackson County. A group in Cape Girardeau wants to construct a casino in that city.

Commission Executive Director Gene McNary says it’s unfortunate to put everything on hold, but commissioners want to wait to see whether the Secretary of State approves a ballot initiative that would ask Missourians to stop any new casinos from setting up shop. McNary says if it is determined by the Secretary of State that the issue will not be on the November ballot the resolution will be null and void and the moratorium will be lifted.

Download/Listen: Steve Walsh report (:60 MP3)

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Two More Initiative Petitions Approved for Circulation

February 27, 2008 By

The Secretary of State’s Office has approved two new initiative petitions for circulation.

The first petition would amend the Missouri Constitution pertaining to corporate tax credits, limiting the authority of the General Assembly to issue new corporate tax credits or deductions in a fiscal year to no more than the amount currently allowed for tax or fee increases without voter approval under the Missouri Constitution.  It would also require voter approval for any new corporate tax credits or deductions that exceed that amount.

The second petition would revise current laws pertaining to casino and gambling loss limits, repealing the current individual maximum loss limit while restricting the number of casinos to those already built or being built.

Approximately 86,000 to 95,000 valid signatures will be needed to place the casino initiative on the ballot. Between 140,000 and 150,000 signatures will be necessary for the tax credit initiative because that is a constitutional amendment. Those signatures must be submitted to the Secretary of State’s Office by May 4 th .

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