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Effective Date of Proposition A
Determined
Jefferson City, Missouri, November 7, 2008- The Missouri Gaming
Commission received word this morning from the Missouri Secretary of State’s
office that Proposition A went into effect Election Day.
MGC Executive Director Gene McNary says “we were operating under the original
plan for Proposition A to become effective following the certification of the
election by the Secretary of State’s office, which we anticipated to be around
December 2nd, 2008. Because of a gray area, the Secretary of State reviewed the
issue with the Attorney General’s office and it was determined that Proposition
A became effective immediately following the vote. Each riverboat casino has
been notified of this decision and is preparing to operate under the provisions
of Proposition A.”
Highlights of Proposition A include the removal of the 500 dollar loss
limit, an increased tax rate of 21 percent on adjusted gross receipts, and a
cap on the number of gaming casino licenses in Missouri.
-End-
