Ky. Gov. Beshear Unveils Gambling Proposal

(Frankfort, Ky.) – This Valentine’s Day, Kentucky Governor Steve Beshear may love nothing more than to see expanded gaming introduced in the Commonwealth.

Beshear detailed his gambling amendment to the state’s constitution Tuesday. It seeks to place casinos at five horsetracks and two other sites at least 60 miles from any track.

The amendment would have to be approved by Kentucky voters in November, but before appearing on the ballot it must first pass the House and Senate with at least 60 percent support in each chamber.

“We’ve been debating this issue in Frankfort for more than 15 years. The citizens of our state are clamoring to have their voices heard,” Gov. Beshear said.  “Two recent polls show more than 80 percent of Kentuckians want to cast a ballot on gaming. Are we going to listen to them or not?”

The proposal is in a bill written with State Sen. Damon Thayer (R-Georgetown).

“The time has come to let the people decide on the issue of expanded gambling,” said Thayer.

Seven other lawmakers – two Republicans and five Democrats – have lent their names to sponsoring the bill.

Beshear said a recent economic study showed that Kentucky residents spent $451 million on casino gaming in other states in 2010.

“That’s hundreds of millions of dollars that could be supporting our schools and building our roads – but instead it’s padding the budgets of Indiana and West Virginia,” Beshear said. “It’s time to keep Kentucky’s money here at home, and it’s time to let the voters have their say.”

Expanded gambling has failed to gain traction in Frankfort for years, but Kentucky’s current budget crunch may help warm-up some lawmakers to the idea.

Another recent study study estimates that, under one scenario, expanding gaming at racetracks would bring in one-time license fees of $266 million and $377 million in taxes annually into the General Fund, Beshear said.

LINKS:

Gov. Beshear's State of the State Asks For Gaming