Doubling down on casino credit lines

Doubling down on casino credit lines

On April 27, 2012, the Post-Dispatch featured an article on proposed credit lines for Missouri casino gamblers. Fortunately, it failed to pass, but, like problem gamblers trying desperately to recoup their losses, Missouri casinos still yearn for more action. "Casinos want OK to offer credit" (May 6) contains the same specious, illogical arguments made by credit line proponents a year ago.

In 2012, it was "professional athletes" who couldn't be troubled to bring cash to casinos, cash checks there, or take credit card advances. In 2013, it's rappers like Lil Wayne and private aircraft owners who (we're told) are unable to gamble adequately without borrowing money from casinos. Who knew the well-heeled had such cash flow issues?

We're told that big rollers prefer to flee to the older, smaller Casino Queen rather than newer, larger Missouri "boats," solely because they can obtain lines of credit in Illinois. If that were true, wouldn't Casino Queen's handle be expanding, not shrinking?

Lobbyist John Bardgett (dubiously representing both the St Louis Co. Economic Council and Pinnacle Entertainment) assures us that conventioneers' primary concern in St. Louis is the availability of casino credit lines. Rep. Bob Burns (who called River City Casino "a godsend" to his district) makes the remarkable assertion that private jet owners are the intended recipients of credit lines, that "this has nothing to do with people living paycheck to paycheck."

These arguments ring as false today as last year. High-end players have plenty of money to gamble without relying on credit lines. They have bank accounts, ATM cards, checks, and yes, even credit cards.

Joe Public, who just lost his rent money and car payment on slots or blackjack, is far more likely to apply for credit than a private jet owner. There are also thousands more "Joe Public" casino patrons than Lil Wayne and aircraft owners combined, meaning they constitute vastly more profit potential for casinos. This measure is not about wealthy patrons, the 1 percent with unlimited cash to spend; it's about area problem gamblers who risk their mortgage payment, their savings, and their lives by wagering recklessly, about casinos who lust for higher profits regardless of the human cost.
If casino credit supporters were forthright, they'd state the obvious: They're desperate to expand handle; they have no regard for the financial well-being of their players; and that the lives destroyed by gambling losses are just collateral damage.

Two of the questions used to diagnose compulsive gambling are "Did you ever borrow to finance your gambling?" and "Did you often gamble until your last dollar was gone?" Credit lines on Missouri casinos would guarantee far more "yes" answers when area problem gamblers face the reality of their situations. Let's hope the Missouri Senate recognizes a bad hand when it sees one, and folds on Missouri casino credit lines.

Ted Rood • O'Fallon, Mo.

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