Search Results for: loss limit

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Loss limit repeal is not translating into big revenue for Missouri casinos or our schools

The St Louis Business Journal is reporting that the removal of the loss limit has not been the economic panacea that supporters claimed it would be: The state repealed a $500-in-two-hours loss limit at casinos in the hopes of generating much needed revenue for the education system. The projections had the repeal being the key […]

Another example of why MO shouldn’t remove the loss limit

There are currently over 12,000 people on the Missouri Disassociated Persons List (DAP).  These people voluntarily chose to exclude themselves from casinos because in most cases they are compulsive and addicted gamblers.  Its obvious these people are unable to simply stop gambling at the casino or they would not have gone through the lengthy and […]

The loss limit does not cost jobs and removing it cannot save them

Last week the Secretary of State certified the initiative petition that seeks to remove the $500 loss limit and it will appear on the November ballot.  The Coalition behind the petition should be called the Casinos First Coalition as the funding for the initiative is coming from one source and one source only – Missouri […]

Casino funded Loss Limit initiative may appear on November ballot

Last Tuesday, Missouri Secretary of State Robin Carnahan certified a casino industry-backed initiative petition that would eliminate the $500 loss limit and raise casino taxes by one percent. In addition, this casino initiative which has been titled the “Yes for Schools First” initiative eliminates the mandatory checking of identification. Casino Watch Executive Director, Evelio Silvera […]

A Loss Limit lesson – How the Missouri lottery demonstrates there are no winners, only losers

Casino Watch has explained what happens when you tie money for education to gambling: sometimes you see extra revenue go to schools but most of the time an elaborate shell game is played where the money never really reaches the intended target.  The Missouri Lottery was established with promises of money going to schools but […]

How Norway got it right – The principles of the loss limit at play

The Herald Times is reporting some drastic, yet effective measures that Norway has implemented to safeguard its citizens from gambling addictions: The government has been concerned about the increasing number of Norwegians reported to be addicted to gambling machines, and in July 2007 it banned all privately owned machines while it looked for a way […]

A Cautious Victory…Loss Limit Beware!

On Monday the Missouri Gaming Commission (MGC) passed what looks like a well- intentioned moratorium on new casinos in Missouri. Virginia Young of the St Louis Post-Dispatch explained the move: The freeze halts, for now, a pending application to add a casino in the Kansas City suburb of Sugar Creek. It also douses hopes of […]

How the concepts behind the loss limit may help an entire country

Sometimes we take for granted the great protections we have here for Missouri Families and residents. We have shown in the past how the $500 loss limit can curb crime in our state by preventing money laundering and organized crime which helps drive drug dealers, criminals and even terrorist out of the state. And we […]

Missouri’s Loss Limit Keeps the Criminal Element Out…Again!

There are many reasons to support Missouri’s $500 loss limit, however, one of the most overlooked and forgotten reasons for its support is because it is an effective tool for law enforcement officials. The loss limit provides Missourians with unique protection from organized crime and money laundering. A perfect example of such protections comes from […]

Casinos Submit Signatures for Loss Limit Removal Petition

May 4th was the deadline for submitting signatures for any initiative petition seeking ballot approval for this November’s election.  As expected, the casino group has submitted what they believe to be the correct number of signatures for their petition to remove the $500 loss limit.  A spokeswoman for the group was reported in the Columbia […]

HB 1864…the new vehicle for removal of the loss limit

At the beginning of this legislative session Missouri State Representative Michael Parson introduced HB 1864.  This bill allows operators of excursion gambling boats to deposit checks on the next business day of the financial institution instead of within 24 hours.  There is no inherent need for the change in law because the Missouri Gaming Commission […]

MO State Rep. Cooper accepts casino lobbyist gift then files legislation to remove loss limits

From Randy Turner at the Turner Report: Two days before Rep. Shannon Cooper, R-Clinton, submitted a bill to remove the loss limits for Missouri casinos, he may have been conducting some in-person research at one of those facilities. Documents posted minutes ago on the Missouri Ethics Commission website indicate Cooper, whose bill would also limit […]

casinos file ballot intiative to remove loss limit

On Wednesday, the Missouri Secretary of State’s office approved ballot language for a ballot initiative filed by Troy Stremming, an executive with Ameristar Casino. The casino industry is supporting and pushing a variety of legislation in the Missouri General Assembly this session which would relax regulations on the industry, including removing the $500 loss limit. […]

bill to remove loss limit moves through senate committee

This afternoon with just enough Senators present for a quorum, the Senate Ways and Means Committee chaired by Sen. Carl Vogel, passed SB 1052 which removes the loss limit. Even though a hearing on the bill which took place last week provided testimony citing the Missouri Gaming Commission’s recently released statewide market study showing that, […]

Missouri Senate Ways and Means Committee holds hearing over loss limit removal

Sen. Scott Rupp has introduced legislation (Senate Bill 1052) which would remove the $500 Loss Limit. Yesterday, the Senate Ways and Means Committee heard testimony regarding the merits of SB 1052 and will be voting on whether this bill will be sent out of committee to the floor for debate. From Jason Noble at the […]