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Missouri to vote on gambling loss-ceiling

Oct 7, 2008 5:10 PM

by Ray Poirier | For casino operators in Missouri, the biggest hang up has been the requirement that gamblers can only lose $500 in a two-hour period.

Removing that ceiling, say the casino operators, would not only help the property owners but also would increase the amount of revenue generated for the state.

On Election Day, the voters will decide whether to eliminate that gambling ceiling.

What wont be changed, however, is the $2 tax that each casino patron must pay during that same two-hour period. One dollar of that tax goes to the state and the other to the community in which the casino is located.

The two-hour period was established originally when riverboat casinos were expected to cruise for two hours. But, that law was soon changed.