Colorado Governor Jared Polis recently vetoed a bill that would have allowed casinos to loan money to customers. The bill approved offering lines of credit of $1,000 or more.
The governor, however, disagreed with the legislation, saying that it could allow casinos to take advantage of people with gambling addictions. That could only cause the problem gambling to spiral further down in their addiction.
“The key element I take issue with here is whether persons with a gambling disorder can meaningfully consent to a transaction,” Polis wrote in a veto letter. “Just as there would be issues with gaining the consent of a person with a substance use disorder who is under the influence, there are also serious issues regarding the ability of a person with a gambling disorder to freely consent to a loan while on a gambling spree.”
Backers of the bill, however, said casino loans were an issue of convenience. They pointed out that high rollers would not have to come to a casino with large amounts of cash. They instead could apply for a line of credit and use that money for gambling. They further pointed out that credit cards are not allowed and that ATMs have daily withdrawal limits.
“It’s really trying to attract folks that want to gamble … Gives them the opportunity ahead of time to apply for credit with the casino,” Rep. Marc Snyder, a Democratic sponsor, told Colorado Public Radio.
He described it as a tourism bill during a House debate. “It’s something that the casinos feel will help them to build and maintain (their) customer base.”
The bill received bipartisan support. Democratic Senator Dylan Roberts and Republicans Rep. Ron Weinberg and Senator Mark Baisley cosponsored the legislation.
Polis, however, was not swayed.
“My focus is on saving Coloradans money, not exposing them to loans from casinos that could be their financial ruin,” Polis wrote, adding that he still supported people’s right to gamble.
The legislature does not appear to have enough votes to override Polis’ veto. It took a second vote in the House to pass the bill after the first vote
