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Betting on higher revenue

5 September 2008

MISSOURI -- As reported by St Louis Business Journal: "Hazelwood and Rockwood school districts each stand to gain an estimated $1.6 million a year in new state funding from the passage of Proposition A, a ballot initiative to repeal Missouri's current $500 loss limit on gambling.

"In total, eight area public school districts are likely to gain from the repeal, said Gerri Ogle, associate commissioner of the Missouri Department of Elementary and Secondary Education (DESE), in response to an inquiry by the St. Louis Business Journal. The other school districts are Ferguson-Florissant, Mehlville, Affton, Bayless, Ritenour and Riverview Gardens. The additional funding for those six would range from an estimated $144,315 to $834,507 a year.

"The figures from DESE provide the first glimpse at how money from the repeal could be distributed among public school districts.

"The group "Yes on A" is asking Missourians to remove the state's $500 loss limit on casinos on Nov. 4, with a promise that the repeal will produce $105 million to $130 million more in funding for elementary and secondary education statewide for fiscal year 2009-2010. In addition to repealing the loss limit, the proposition seeks to raise the current gaming tax from 20 percent to 21 percent..."

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