Kentucky Governor Submits Massive Casino Proposal

Kentucky Governor Steve Beshear submitted a proposal to the Kentucky General Assembly last Thursday, outlining his idea for the construction of up to twelve casinos in the state.  He believe that the “…annual estimated fiscal impact of the legislation at full implementation would be approximately $600 million.” 

As reported by Columbus Business First, up to seven of the casinos would be at horse tracks (or other land in the counties where the tracks reside) and up to five would be free-standing, independent casinos.  These free-standing casinos would require residents of their counties to approve of them via referendum. 

Before any of that, however, the Kentucky General Assembly must approve of the measure by a three-fifths vote.  The approved constitutional amendment must then be voted upon by the residents of the state. 

Half of the state tax revenue brought in by the casinos would go towards education, while one-fifth would be allocated to health care.  The remaining thirty percent would be split amongst treatment for gambling addiction, substance abuse programs, agriculture, tourism, economic development, veterans’ programs, and environmental protection.