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MISSOURI REGULATORS ISSUE MORATORIUM ON NEW LICENSES

June 18, 2008

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The Missouri Gaming Commission voted Monday to issue a moratorium on new casino license applications in the state until November, when voters will have a say on the issue.

The commission, whose vote was unanimous, was being petitioned by a group seeking to develop a casino in Cape Girardeau.

A separate ballot referendum, supported by some current operators, seeks to ask voters in November to approve a permanent moratorium on new gaming licenses, remove the current $500 loss limit and raise the gaming tax rate to 21 percent.

The moratorium holds off a pending application to add a casino to Sugar Creek, a Kansas City suburb, as well as a proposal for a casino in Cape Girardeau, and a push for a casino at the Chain of Rocks Bridge in St. Louis.
Gaming commissioners indicated that it appears the referendum to cap the number of casinos will make it on the general election ballot Nov. 4.
Commission Executive Director Gene McNary said it would be “imprudent” to rush through any licenses before voters can speak to the issue and that the economic downturn is hurting casinos financially, providing reason for caution, according to the St. Louis Post Dispatch.

– Staff reports



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