Ameristar, Pinnacle spend $500K on loss-limits push

The loss limit is a crazy concept that I am surprised passed in the first place. I know several gamblers who simply go over to Illinois or go to Tunica and other places to gamble. There they spend money on entertainment and restaurants and other things. Let’s keep that money in Missouri. We are the ONLY state that has a “loss limit”. Stop losing revenue that could be generated by people gaming in Missouri. Last I looked Las Vegas was doing pretty well and it is no coincidence that they rebuilt Biloxi, MS so soon after Katrina, because they understand how much money is bought in by gaming. I, for one, would vote to get rid of the “loss limit”.

I will vote to get rid of the loss limit. The concept does not make much cents, ;>)
Gamblers can simpley cross the river.
The loss limit will not have too much affect on slot machine palyers, you have to be really unlucky on a small demonination machine to go through $500 in two hours unless your playing five or ten dollar machines. (my experience anyway)
The real benefit for casinos and state revenue will be on the table games.

i have a friend who used to be in the industry. his perspective: it makes st. louis look like a joke when big players come into town and try to spend money. for instance: remember when we had the final four tournament here in st. louis? his st. charles casino was bustling with big-money gamblers from all over the country, and every single one of them was baffled by the fact that they couldn’t buy in for more than $500. i think the loss limit hurts the gambling reputation of st. louis more than it helps any of our local citizens. as a st. louisian, the last thing i want is for some out-of-towners to come in and scoff at my city (especially ones with deep pockets!)

The loss limit does not solve anything. I am a regular at one of the casinos. The people that really want to spend more than the $500 will find a way. I have had people ask me to go to the window and buy tokens for them. They offer me money to do it, and of course, I do it. I have a friend whose son goes to the casino with him, but leaves. The father will use the son’s card if he runs out of money on his. People are always willing to let others use their cards, so they can get the comps. People leave cards at machines and anyone can pick it up and use it. Gamblers will find a way to play, loss limit or not. A guy gave me $450 to buy him $400 worth of chips. $50 profit for me. I say let the High Rollers spend their money.

Yes for Schools? HAH! they don’t spend 2,4 mil cause they give a damn about schools! They are trying to lock out competition and fend off a REAL tax increase that would contribute REAL money the schools of this state NEED. they would pony up a lot more to get out from under the loss limit if we don’t let them bowl us over with propaganda.

I think that the casinos might have gotten a little too greedy with their current ballot proposal. In addition to repealing the loss limit, they are seeking to protect themselves from competition by permanently capping the number of licenses available in the state.

I would have absolutely no problems with voting to repeal the loss limits. The loss-limit rule was created and sold as a method to prevent people from losing more than they could afford. But in actual practice, it’s an easily-circumvented restriction that simply doesn’t work.

However, I have a real problem with the ballot measure’s cap on casino licenses. In any industry, companies that are allowed to operate without competition tend to neglect their customer base, skimp on new investment, and bloat themselves on near-guaranteed profits. Ameristar and Harrah’s both spent millions of dollars recently in renovations and new construction, primarily to compete with the arrival of Lumiere Place downtown. How much investment and reinvestment will take place in an environment where additional competition is forbidden by law? What will motivate the gaming companies to differentiate themselves and improve the customer experience?

[...] Also, last week, Yes for Schools First named a new spokesman: Scott Charton, formerly director of communications for the University of Missouri system. Read more from the original source: Ameristar, Pinnacle spend $500K on loss-limits push [...]

If there were no casinos in this town, we would all be better off. I don’t care that a good number of people would travel over to Illinois to gamble, a whole lot more would keep there money in Missouri and find more worthwhile ways to spend it. Gaming can be a lot of fun, but casinos turn a profit off the addictive behavior of those who can least afford to drop hundreds of dollars down the tubes on a given weekend. Although people can always seek out other gambling venues, the easier and more convenient it is for people to gamble, the more often they’ll do it. Who cares if “big shot gamers” think St. Louis gaming is a joke? Prove to me that more than a handful of people gambling locally are from out of the area! St. Louis is never going to be a Biloxi, Tunica, and certainly not a Vegas. These casinos are just draining our local economy of our hard-earned dollars, and they’ll leave when they’ve taken everything they can. Our neighbors are just throwing away money and sending the bulk of it to rich out-of-state investors — Missouri only gets a small return at a significant cost.

Why do you think that casinos in Las Vegas and other tourist destinations give comps to people willing to play higher limits? It’s because these are the people that they make the most money from. Sure, they make money on the rest of us but the real money comes from high rollers and if we have a $500.00 limit what high roller is going to want to sit down at a table? If we are serious about our gaming revenues we will eliminate this limit.

Get rid of the loss limits but don’t limit the number of licenses in the state. They need to have competition and they are trying to lock out more competition. If we get rid of the loss limits and increase competition, maybe we won’t have to pay $3 a beer while giving our money away. Vegas and Tunica have free alcohol while you are gambling.

Eliminate the loss limit. People are responsible for their own actions, aren’t they?

However, I’m for allowing any company to build a casino if it goes through the normal state regulations for getting one. Keep competition alive.

While I suppose that some of the supporters of the loss limit have a noble goal in preventing problem gambling, the loss limit only affects responsible gamblers who can afford to lose $500. As others have said, those who really want to gamble are going to find a way to gamble regardless of the presence of a loss limit or legal casinos.

Of course, addiction should be treated, but loss limits do nothing to stop addicts or potential addicts. It should also be noted to all of the gambling opponents that the worst thing you could do to an addict is to take away the safest and most secure places for him/her to play.

This isn’t just an issue of economics; it is an issue of personal freedom. Gambling opponents may not like the fact that people gamble, but my response to that is “don’t gamble”. If this is truly a free society, we should be free to make decisions for ourselves that are potentially good or bad.

Get rid of this damn loss limit. I for one am completely tired of the out state legislature trying to tell people in St. Louis how to live. When will these farmers outstate realize that nobody is going to build a luxury casino in a cornfield? I got kids to send to college one day and I personally think we should get as much education funding as possible, the more resources and scholarships…the happier my pocket book will be. As far as these conservatives who call themselves “protecting” grown people by enforcing this law that makes Missouri look backwoods, go sit down some where…seriously. And for the gentleman who said St. Louis could never be like Biloxi, well I hope we would never be like anything in Mississippi. Think about it guys… A riverfront casino district down on the landing with views of the Arch would be a major tourist attraction and put a lot of money into the economy.

Yes, the Loss Limit is a joke. I have never met a person that wants it… so how does our state govt still pass it?

Also, it was my understanding that the STATE GOVERMENT came up with the limit on the # of casinos. They said, Ok, you can have your loss limit go bye bye, but no one will be able to build another casino.

So the casinos want to build more casinos, the goverment once again loves to hurt business.

They should lower the loss limit to $0.

From my experience, almost everyone who visits a casino has a loss limit. They impose it on themselves, and it’s the amount of money they can afford to lose and are willing to lose. When I visit a casino, if I reach my personal “loss-limit” I quit. Why do we, as a society, try to encourage personal responsibility, and then turn around and act like people cannot take care of their own finances? We don’t need the government trying to act like our parent.

[...] sure to check out our brother Business News blog on STLtoday.com, which has spending reports from “Yes for Schools First” — the [...]

The loss limit needs to be removed. Next year when the All-Star Game is here, there will be tons of high-rollers in town who will want to gamble. Please don’t make them go to the Queen! Keep it in Missouri!

However, I don’t agree with the license cap. I’m pretty sure Cape Girardeau is interested in getting a casino. Keep up the competition!

Free Tipsheet. Do me a favor, and email mike smith at mikesmith@post-dispatch.com and ask him to FREE TIPSHEET. It will take you 10 seconds to fight tyranny!

Sure, get rid of the loss limits. The whole thing is a joke anyways. When the casinos were first proposed in Missouri in 1991, we were promised: 1. More money for schools; 2. Casinos only on small riverboats that floated up and down the Mississippi and Missouri rivers, and 3. Loss limits to prevent problem gambling. Now: 1. The money that was supposedly “earmarked” for schools is simply an accounting credit that enables the state legislature to contribute less money from the general revenue fund for schools; 2. Casinos are “boats on moats” located on sprawling acreage with huge hotels, restaurants and entertainment that eats up all the entertainment dollars in the area and kills off the small businessmen in St. Charles, Maryland Heights and downtown; and 3. Every day you read about a former respected citizen who embezzles money to support his or her gambling addiction, and is now facing divorce, bankruptcy, and a few years in jail in order that the Missouri casinos can add a little bit to their profitable bottom lines. The casinos have lied to us about everything else so we might as well let them off the hook for the loss limits. And while we’re at it, why don’t we open some brothels near the casinos to support another little dirty free market enterprise. Our unemployed wives and daughters might be able to find profitable employment there.

“Yes for Schools First”. How predictable that they would name their lobbying group something that appeals to emotion. Newsflash! Every new dollar generated by Gaming will result in one less dollar the State has to use from their existing budget…..they’ll just spend the money on something else.

Sure, get rid of those nasty profit eroding loss limits. Let the populace pay the social costs for bankrupt families. We all have plenty of cash for that right now. Let’s keep on allowing casinos to take advantage of the thousands of ill gambling addicts with ridiculous house odds. And let’s keep allowing wealthy casino operators take those cool tax benefits all the way to the bank. Good for society…good for the people…no loss limits NOW. Hand it all over and we will pay for you and your spawns’ daily care for life. God knows you’ll be breeding the smart ones who can finally beat house odds and end the terminal family tragedy of no cash on hand. And you act like all the evil ones are in the sands.

Get rid of loss limits only when those legalized criminals pay for the social services all their flat-busted gamblers have us pay for now. They can use all that tax free cash. You didn’t think the tax men stood over their shoulders while they count all they rake in do ya? The next time anybody wants to complain about high taxes, think…do I go to casinos. Nuff said…it’s your own fault your tax burdens are high. You play right into that sort of tax burden shifting. Idiotos!