So how much would purses increase with slots at the tracks?
FRANKFORT – While Kentucky race tracks claim they need video lottery terminals to increase their purses to remain competitive with other states, Gov. Steve Beshear indicated Wednesday he does not yet know how much money would be earmarked for purses if the state expands gambling.
Asked if most of the money from slots at the tracks would go to purses, Beshear said, “I think it would depend on how the legislation is drafted.
“You could provide any number of different avenues there.”
Asked aren’t purses the primary concern for expanded gambling, Beshear said, “One of the problems in the horse industry right now is the fierce competition that our race tracks face with race tracks in other states that surround us and are fairly near to us.
“One of the things that is drawing the horses from Kentucky tracks to tracks outside of Kentucky is the fact that the purses are much higher. The opportunity to make money in the business is much greater because of that.”
Beshear is considering calling a possible special legislative session to deal with an expected budget shortfall and concerns in the horse racing industry.
Last year, House Speaker Greg Stumbo, D-Prestonsburg, introduced a bill that would allow slots machines at the tracks.
He estimated that tracks and the horse industry would get 75 percent of the first $100 million and 65 percent of anything over $100 million.
Under Stumbo’s bill last year, 14.5 percent of the money to the horse industry would go to Thoroughbred and Standardbred purses.
Meanwhile, The Family Foundation has scheduled a 1:30 p.m. news conference Thursday in the Capitol Rotunda in Frankfort to announce legal action “regarding the unconstitutional slots-at-the-tracks legislation and the special session that is currently being proposed.”
A media advisory from the Lexington-based group also said it will give “an evidentiary packet” to the governor and make public its contents.
–Jack Brammer
Filed Under: KY General Assembly • State Government • Steve Beshear
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That is a pretty confident statement by our Governor. Seems to feel , perhaps, its a done deal.
It may be, but the court appeals clarifying the lottery amendment lies ahead. The real question is what does the administration have to trade DAVID WILLIAMS for a decision to back off?
It is not proper, good business for governments to resort to Gambling.
And the rant about loosing the Horse Business may be a bit overstated, but on purpose.
Jim Anderson Stivers
Courage is doing what you’re afraid to do.
There can be no courage unless you’re scared.”
Edward Vernon Rickenbacker quotes (American Pilot, Businessman and Aviator. 1890-1973)
This statement scares the hell out of me “He estimated that tracks and the horse industry would get 75 percent of the first $100 million and 65 percent of anything over $100 million.
The “first” $100,000,000. How many do they expect? With this kind of thinking is there not any reason to believe why Ketucky state government is owed $922,000,000 in back income taxes? After VLT’s, will it go to $2,000,000,000?
Have we forgotten Ketucky is one of the 4 poorest states in the USA and now our government wants to bleed off multiple hundreds of millions of dollars from the citizens of Kentucky.
Way to go Beshear, you are such a one-termer!
Thunderstorm, you must be one of those bleeding heart liberals who think that guns kill people. Slots don’t make people poor. People make themselves poor by their bad choices. Do you really want a big Nanny Government to take care of you? Well I don’t.