Web Search powered by YAHOO! SEARCH
07.16.2008 11:26 am

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

St. Louis Post-Dispatch
  • Email this
  • Print this

Two of the region’s biggest casino companies - Ameristar Casinos and Pinnacle Entertainment - poured another $500,000 into their bid to overturn Missouri’s casino loss-limits law in the second quarter, according to a filing this week with the Missouri Ethics Commission. (read the report here)

Each company donated $250,000 during the period to the Yes For Schools First Coalition , the group that’s pushing a measure on the November ballot that would end Missouri’s one-of-a-kind $500 loss limit, cap casino licenses and provide up to another $130 million in school funding. The only other donor in the quarter was the Missouri Gaming Association, which provided nearly $13,000 worth of in-kind donations.

All told, Ameristar has donated $1.21 million to the effort, and Pinnacle $1.19 million. Aside from the Gaming Association, they’ve been the only donors since Yes for Schools First was formed in December. Other casino groups, like Harrah’s Entertainment, have said they support the measure, but not donated money to it.

Both companies have a lot riding on the measure. They each have invested heavily in large casino-hotel properties in Missouri in recent years and say the card requirement and $500-per-two-hours cap on losses keeps high rollers out of Missouri casinos and prevents St. Louis from becoming a gaming tourist destination. Ameristar is also concerned about the launch of gaming in Kansas, near its property in Kansas City, Mo.

Also, last week, Yes for Schools First named a new spokesman: Scott Charton, formerly director of communications for the University of Missouri system.

23 comments

Comments are closed.

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.

— Dan S
2:12 pm July 16th, 2008

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.

— Nate
2:25 pm July 16th, 2008

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.

— Mr. Mind Your Own Business
2:31 pm July 16th, 2008

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.

— zink
3:01 pm July 16th, 2008

They should lower the loss limit to $0.

— BH
3:24 pm July 16th, 2008

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.

— Terry L
3:35 pm July 16th, 2008

[...] 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!

— MoneyBags
9:19 am July 18th, 2008

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!

— loss
11:01 am July 18th, 2008

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.

— Edward
11:48 am July 18th, 2008

Pages: « 1 [2] 3 » Show All