"We're very pleased with this decision"

The Missouri Supreme Court on Tuesday overturned a state Administrative Hearing Commission ruling that could have triggered huge state sales tax refunds to casinos.

The President Casino in St. Louis in 2003 filed for a refund of all state sales taxes it had paid on 'comped' food and beverages since 1995. The casino argued it was being doubled-taxed because it regularly calculated the value of its giveaway products in the average payback rates it set for slot machines, which pay the state's 20 percent gaming tax. Read more