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Mo. casinos want to toss loss limit

KANSAS CITY, Missouri -- As reported by the Kansas City Star: "Missouri voters might get to decide whether to lift the state's casino loss limit under an initiative filed by a coalition of gambling companies.

"The proposal, filed with the secretary of state's office in Jefferson City late last week, also calls for freezing the number of casino licenses issued by the state at 13 and bumping the gaming tax on gross casino revenue to 21 percent from its current 20 percent.

"The coalition, which calls itself "Yes for Schools" and includes Ameristar Casinos Inc. and Pinnacle Entertainment Inc., will push its plan by arguing that it could boost casinos' annual tax contributions to Missouri education funds by $100 million.

"If the Missouri General Assembly does not pass such a proposal in its 2008 session, the coalition members said, they will try to gather the thousands of signatures needed to put the plan before the state's voters..."

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