SB741, a bill allowing Missouri casinos to offer lines of credit to high rollers, has been approved by legislators and awaits Governor Jay Nixon’s signature. Under the bill, casinos could extend a minimum line of credit of ,000; it would be considered an unsecured, no-interest loan, due within at least 30 days. Intoxicated individuals would not receive credit.
The bill passed the Senate in a 24-9 vote, and passed the House by 125-21.
Most legislators who voted against the measure were Republicans; several senators were concerned that Missouri was making it easier for gamblers to bet large sums.
Earlier this year, a Pinnacle Entertainment executive said the legislation would help casinos attract large bettors such as athletes who have credit lines at Pinnacle casinos in other states, but are not allowed to use them in Missouri—and who do not like to carry large amounts of cash when they gamble. Pinnacle operates 16 casinos and racetracks in nine tracks in the state, including casinos in St. Louis, St. Charles and Kansas City.
Bettors in Nevada, New Jersey, Illinois and at least 10 other states are allowed to have lines of credit, according to the Missouri Gaming Association.
