A study of the profitability of Missouri’s casinos shows they operate at low profits and would be badly hurt by tax increases – even if the loss limit is eliminated.Associated Industries of Missouri Vice President Jim Kistler has told a legislative committee Governor Bob Holden’s proposal earlier this year would have stopped capital expenditures by casinos, caused layoffs, and might have led to the closing of two boats. He says the study shows casinos operate with profits of as little as one-half percent. Kistler admits other means of accounting put the profit at almost seven percent. The head of the State Gaming Commission says the study is flawed because it fails to take into account for some other financial operations of casinos.
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