Casinos ante up big in loss-limits push

Two of the region’s biggest casino companies have poured $11.6 million since July into an effort to end Missouri’s $500 casino loss limit policy, according to campaign finance reports filed today.

Ameristar Casinos and Pinnacle Entertainment, operator of Lumiere Place Casino in St. Louis, have provided nearly all the funding for the Yes on A Coalition, which is advocating for a proposition on the November ballot that would end Missouri’s $500 loss limit, cap casino licenses at the current 13 and raise taxes on casinos from 20 percent to 21. That tax hike would generate between $105 million and $130 million in new education funding, according to the Missouri State Auditor.

For casinos, the measure would end Missouri’s only-in-the-nation loss limit and card requirement, which they say hinders them in efforts to bring in high-rollers from out of state to gamble here, and could hurt business at Kansas City casinos now that Kansas has legalized gaming.

So far this year, the Yes on A Coaltion has raised $14 million, from Ameristar, Pinnacle and a small amount from the Missouri Gaming Association. As of Sept. 30, it had spent $9.2 million and has been running TV and billboard ads in the St. Louis market.

To see Yes on A’s finance reports, click here.