πŸ’° Kentucky AG Calls for Legalized Gambling to Fund Pensions | Chief Investment Officer

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States have been flocking to take advantage of sports betting after the Kentucky's neighbor, Indiana, has had casinos for years and quickly.


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β€œCasinos are already located along all of Kentucky's borders and those states are reaping the benefits of additional tax revenues,” said Keene.


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β€œThe solution is not to cut legally promised benefits, but to create a new Kentucky's gambling laws only allow some betting on some horse.


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Andy Beshear (right) wants casinos in Kentucky. and Thayer said the tax revenue and economic benefits of authorizing commercial gambling.


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The Kentucky Legislative Research Commission is a member committee comprised of gambling, and includes positive benefits of gambling such as social.


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Andy Beshear (right) wants casinos in Kentucky. and Thayer said the tax revenue and economic benefits of authorizing commercial gambling.


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The Kentucky Legislative Research Commission is a member committee comprised of gambling, and includes positive benefits of gambling such as social.


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Andy Beshear (right) wants casinos in Kentucky. and Thayer said the tax revenue and economic benefits of authorizing commercial gambling.


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FRANKFORT β€” Gambling brings social ills that will offset any tax revenue to Kentucky, argued a new group that rallied Wednesday in the.


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FRANKFORT β€” Gambling brings social ills that will offset any tax revenue to Kentucky, argued a new group that rallied Wednesday in the.


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It's OK to disagree with someone's ideas, but personal attacks, insults, threats, hate speech, advocating violence and other violations can result in a ban. You will need to register before adding a comment. The Newport gaming facility is a good first bet, but to be competitive, Kentucky needs to seize more legalized gambling opportunities. Check out this story on cincinnati. A link has been posted to your Facebook feed. Please be polite. Typed comments will be lost if you are not logged in. It never made it out of committee β€” once again. While the new Newport gaming facility is a great first step for our region and our state, the General Assembly needs to take further action on legalized gambling to compete with other states, provide additional revenue to support our signature horse industry, and address the pressing need to shore up our schools and public pension system. If you see comments in violation of our community guidelines , please report them. With a full-blown casino less than five minutes away in Ohio, this will give Northern Kentuckians a choice to do some gaming on this side of the river. Finally, the location of the gaming facility near I will make it convenient for residents of our region and a tourist attraction for out-of-state visitors to enjoy the Kentucky racing experience without having to drive to tracks in Lexington or Louisville. You do not need a Facebook profile to participate. Comments Welcome to our new and improved comments , which are for subscribers only. Post to Facebook. Another bill in the legislative session, HB , which would allow residents to vote on a constitutional amendment for casino gambling, fared even worse. During the most recent legislative session, House Bill , sponsored by Rep. Cancel Send. ET May 18, {/INSERTKEYS}{/PARAGRAPH} Brent Cooper, Opinion contributor Published a. Adam Koenig of Erlanger, would have established a regulatory framework to allow Kentucky residents to legally bet on sports β€” in addition to playing online poker and fantasy sports contests. Share This Story! This is a test to see whether we can improve the experience for you. Welcome to our new and improved comments , which are for subscribers only. {PARAGRAPH}{INSERTKEYS}Let friends in your social network know what you are reading about. A link has been sent to your friend's email address. Legislation allowing for legalized sports and casino gambling have been filed in the Kentucky General Assembly for several years, but the legislature has refused to vote on these bills while our neighboring states β€” particularly Ohio and Indiana β€” take in millions of tax dollars from Kentucky residents who travel to their nearby casinos. Opinion: Kentucky needs to double down on legalized gambling The Newport gaming facility is a good first bet, but to be competitive, Kentucky needs to seize more legalized gambling opportunities. In the last two legislative sessions, after this bill passed out of the Housing Licensing, Occupations, and Administrative Regulations Committee, House leadership did not call for a vote on the bill. The 17,square-foot facility will include will feature Historical Racing Machines, known as HRMs, which use the outcomes of past horse races to provide an experience like slot machines, a horse-racing simulcast area, including a separate VIP room, and a bar. This Newport development is good not just for our region, but for the entire Commonwealth and its horseracing industry because it will increase in pari-mutuel wagering in the state, which in turn will generate larger purses for live racing, attract better horses, and spur new interest in pari-mutuel wagering and other types of legalized gambling opportunities. First, when completed, the new facility will create about 70 new full-time jobs, not to mention the construction-related jobs the project will produce.