Voters say no to casino, yes to payday loan limits Read Comments
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Wednesday, November 05, 2008 at 10:26 a.m.

Read more: Local, State, Politics

COLUMBUS, OHIO (AP) -- Ohio voters have rejected casino gambling and have kept a law capping interest rates on payday loans.

Issue 6 would have given the state its first Las Vegas-style casino near the southwest Ohio town of Wilmington. Ohio voters have now rejected an expansion of gambling for the fourth time since 1990.

The payday lending law cuts the annual percentage rate that lenders can charge to 28 percent and limit the number of loans customers can take to four per year.

The industry had said it couldn't live with those restrictions and had warned that the law would kill 6,000 jobs.

 

(Copyright ©2008 by The Associated Press. All Rights Reserved.)

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4 Comments on this Story
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Think again...

Posted by k s, bg - Thursday, November 06, 2008 at 3:51 p.m.

If YOU would have done some research, you would have seen that there is NO guarantee that the higher taxes would be paid by the casino and there would have been a monopoly that would have lined the pockets of some very wealthy people and continued to drain this state of what little is left. As for the 6000 jobs ... there is NO guarantee that Ohio workers would have been the ones hired. The current employees of all those casinos that are losing business and laying off employees would have been given first dibs on OUR jobs. Propose the casino idea again, if you must. Just make sure the vague parameters are eliminated and no monopoly will be in place.

Well Larry...

Posted by Kel Varsen, California - Thursday, November 06, 2008 at 11:23 a.m.

If you would have done some research on the casino bill, you would have discovered that they would have paid 30% in tax and distributed it to 88 counties. And don't forget about the potential 2,000 to 3,000 jobs it would have created to an area that is losing a DHL facility.

So all the money that could have stayed in Ohio now goes to Indiana, Michigan and Penn.

Way to go O-HI-O!!

casino gambling.

Posted by Lawrence Warn, point place - Wednesday, November 05, 2008 at 12:08 p.m.

IMHO, The fact that the legislators wanted to allow casino gambling in Ohio with no details of tax rates, license fees etc, and only at one site All lead to the smell of a underhanded smoke filled back room deal. Who knows what "exceptions to the laws" the legislators would have worked out.

payday loans limit

Posted by Larry Warn, point place - Wednesday, November 05, 2008 at 12:01 p.m.

Correct me if I'm wrong but aren't the payday loan businesses all franchised? As for the 6,000 jobs, That's what percent of the total people working in Ohio?

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