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Saturday, November 08, 2008 at 4:55 p.m.

Read more: Local, State, Business, Casino, Law, Election Day, Secretary of State, New, Loss Limits

JEFFERSON CITY, MO. (AP) -- The Missouri Gaming Commission and casinos in the state are surprised to learn that the ballot initiative repealing loss limits took effect Election Day.

State regulators had assumed the initiative would not take effect until Secretary of State Robin Carnahan officially certifies
results, which may not occur until December. But the secretary of state's office said yesterday that the limits took effect Tuesday.

Upon learning of the interpretation from Carnahan's office, the Gaming Commission notified casinos yesterday to immediately begin applying the new law.

Besides repealing the gamblers' loss limit of $500 per two-hour session, the initiative also increased the casino tax rate and
capped the number of casino licenses that can be issued.

(Copyright ©2008 by The Associated Press. All Rights Reserved.)

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Education Fund

Posted by D R, Mo - Tuesday, November 11, 2008 at 10:18 a.m.

Proposition A,as reads- create a new specific education fund from gambling tax proceeds generated as a result of this measure called the "Schools First Elementary and Secondary Education Improvement Fund" and (require annual audits of this new fund?) The question mark might tell us that there may or may not, be annual audits. State governmental entities will receive an estimated $105.1 to $130.0 million annually for elementary and secondary education,and $5.0 to $7.0 million annually for higher education, and early childhood development,veterans and other programs. So lets wait and see if the schools themselves will Truly benefit this time around. I'm surprised it passed also.

I voted NO

Posted by Just a Towner, Kirksville - Monday, November 10, 2008 at 8:34 a.m.

Where is there proof that any of the monies going through the gambling boats are going for education? I thought that was the question all along with this issue. Secondly, I think the $500 loss limit was FINE. I personally don't know anyone who could afford to lose more than that in one day. I'm actually surprised it passed.

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