Missouri lifts loss limits

The loss limits are off at Missouri casinos.

Secretary of State Robin Carnahan’s office said Friday that a ballot initiative repealing Missouri’s gambler loss limits took effect on Election Day.

The means gamblers no longer are prohibited from buying more than $500 of tokens or betting chips every two hours. Missouri was the only state with such a restriction.

Casinos quickly began altering their slot machines to allow unlimited betting and doing away with the mandatory identification cards issued under the old system. By late Friday afternoon, all of Missouri’s casinos had made the adjustments, McNary said.

The higher tax rate and repeal of the loss limits are projected to generate $105 million to $130 million annually in Missouri tax revenues, to be dedicated to elementary and secondary education.