Breeding & Racing Magazine

Kentucky Legislation For 7 Racetrack Casinos

Kentucky Governor Steve Beshear "unveiled legislation calling for a constitutional amendment to allow up to 12 casinos: 7 at racetracks & 5 at non-racetrack locations," reported bloodhorse.com. Beshear declared bluntly: "For nearly 15 years, this issue has been discussed, debated & yet deferred. Today I am taking action & responding to the wishes of the vast majority of Kentuckians by sending to the General Assembly legislation that will give our citizens the opportunity to do as they have demanded: let their voices be heard on whether or not to change the state's constitution to have limited expanded gaming. Public opinion research shows more than 80% of Kentucky voters want the right to vote on this issue. It's past time we acted on that demand & be responsive to the people." The tracks would pay licence fees of up to US$100 million. There are 8 licensed tracks in the state: Keeneland & The Red Mile in Lexington would share a licence. The "state's take would amount to about 35% of gross casino revenue, with the racing industry's share roughly 15%; casino operators would get almost 50%". Beshear summed up: "In 5 years, when all the facilities are up & running, we predict we will realise almost US$600 million in tax revenue." Churchill Downs chief executive Robert Evans commented: "The Governor's plan launches us on a process of putting Kentucky's horse industry on equal, competitive footing with racing industries in an increasing number of states that have already implemented casino gaming at racetracks."