Missouri Senate Passes $10,000 Credit Line Measure

Missouri casinos may soon be offering its elite players $10,000 lines of credit, as a bill permitting the advancement of credit passed the state Senate.

High rollers in Missouri may be able to take ,000 worth of credit lines out through unsecured loans if the General Assembly passes a bill already approved by the Senate in a 24-9 vote. The loans will require full payment within 30 days, but aren’t tied to anything tangible, such as players’ homes or vehicles. Casinos will not issue loans to patrons who appear to be intoxicated.

Troy Stremming, representing Pinnacle Entertainment, Inc., said the credit lines will move Missouri operations into the competitive arena with casinos located in other states like Nevada. Credit lines would attract more players and boost tourism, Stremming said. 

Missouri’s gaming industry is a major source of revenue for the state. In the last fiscal year, Missouri casinos grossed $1.744 billion. Schools there reaped approximately $329.8 million. In addition, Pinnacle’s Ameristar Casino in Kansas City is the city’s second biggest attraction, logging 2.9 million visitors last year.

A lot of work has yet to be accomplished prior to the legislative sessions end May 16, Stremming said. The bill, which failed in both the House and Senate last year, has a better chance of passing this year, Stremming said.