JEFFERSON CITY, MISSOURI - Missouri voters passed new gambling regulations Tuesday that lifted the states loss limits law, raised casino taxes, and limited the total number of licensed casino. The margin was 56 to 44 percent.
Missouri had a $500 limit for losses over any two-hour period on its riverboat casinos. The intent was to protect unlucky gamblers from harmful losses, but the unintended consequence was the loss of gamblers to casinos in surrounding states. Increased competition is coming from Kansas and Oklahoma, so voters removed to loss limit law to retain state revenues.
Taxes on casinos were raised from 20 percent to 21 percent.
A maximum of 13 casinos is now the law which is the current number of existing casinos already licensed in the state. This number includes the St. Louis casino under construction.
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