Missouri legislators have approved a measure that will allow state casinos to offer credit to high-rollers. On Tuesday, the state Senate passed legislation that would repeal the 1992 prohibition on allowing casinos to offer credit to their patrons. The SB741 legislation would allow casinos to extend a line of credit to any gambler willing to put up $10k in advance to demonstrate their deep-pocketed status.
Once this benchmark has been established, the casinos would be allowed to offer a minimum $10k line of credit as an unsecured, no-interest loan payable within 30 days. The arrangements would have to be established before a high-roller downs one too many comped cocktails, as the legislation prohibits extending credit to anyone who can’t walk a straight line or say ‘rubber baby buggy bumpers’ three times fast.
The legislation now passes to the state House of Representatives, where previous attempts to pass such measures have gone down to defeat. Operators of the state’s 14 casinos are firmly behind the plan, with Pinnacle Enterainment exec VP of public affairs Troy Stremming telling legislators that the ability to extend credit will attract high-rollers who don’t much fancy rolling a wheelbarrow full of cash through a casino’s parking lot in order to satisfy their gambling jones.
ATLANTIC CITY HIGH-ROLLER CLAIMS BORGATA AND REVEL ARE CHEAPSKATES
In addition to offering credit, casinos traditionally lure high-rolling gamblers by promising them all sorts of freebies, from comped hotel rooms to flying them into town via private jets. But Long Island millionaire gambler Darryl Abramowitz claims two Atlantic City casinos – the Borgata and Revel – reneged on their promises of perks after his gambling hit a hot streak. Abramowitz has filed a lawsuit in order to compel the casinos to honor their promises.
According to papers viewed by the New York Post, Abramowitz’s suit claims he was contacted in March 2012 by Revel representative Frank Playo, who offered him ‘RFB’ aka free room, food and beverages if he’d bring his renowned high-rolling ways to Revel. The suit claims Playo subsequently offered Abramowitz the use of a poolside cabana, where Abramowitz’s family stayed for three days while daddy hung out at Revel’s blackjack tables.
But when Abramowitz went to check out, he was presented with a $3,747 bill for the use of said cabana, which Abramowitz claims was the result of his having left the casino floor carrying $23k in winnings. Abramowitz claims Playo told him that since he’d managed to outperform the casino’s croupiers, “you can handle your bill.”
Abramowitz similarly accuses Borgata representatives of offering him RFB as well as a $5k credit at the casino’s luxury retail stores. Abramowitz proceeded to spend $900 at Hugo Boss and took out a $500 voucher at a Borgata restaurant, only to have these charges appear on his credit card when he went to check out. Again, Abramowitz claims this was due to the fact that he’d taken the Borgata’s dealers for a healthy $105k. When he pressed Borgata reps to honor their original offer, Abramowitz claims he was told “we don’t need customers like you.” Dude, it’s Atlantic City… You need customers, period.
