High Roller Gambling Arrives At Missouri Casinos
Missourians saw the possibilities that could be reached if the state's loss limits at their casinos were eliminated. In light of that fact, voters turned out and supported Proposition A, and now the high rollers can come to town.
Missouri was the only state in the country that had loss limits on their customers at casinos. Proposition A was aimed at eliminating those loss limits, a move that could pump millions of dollars into the states economy.
"This has some really significant potential as far as the economic situation in St. Louis and Kansas City. This will lead to a level playing field. The commission has said for many years that because of the loss limit, Missouri casinos were at a disadvantage," said Executive Director of the Missouri Gaming Commission, Gene McNary.
The measure will go into effect immediately but there are still preparations that state casinos need to make to ensure that the transition is smooth. Currently, customers have to use cards that track their expenditures.
Those cards will now be eliminated, and in addition the gaming taxes will rise from twenty percent to twenty one percent. Although some believe the laws will take effect immediately, McNary says that the results would have to be verified before the law takes effect.
The initiative is expected to be put in place on December 2nd. That will give casinos plenty of time to adjust and make the necessary changes involving the new law.
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