Racetrack casinos supply new tax revenues and increase the attendance
7 February 2005
In the 2005, four casino-related bills were submitted to the General Assembly. The bills would allow casino gambling at racetracks and gambling halls across the state. Kentucky for the first time has a serious back up from a powerful organization supporting the racetrack casino legislation.
The chairman and a former horse breeder, Gov. Brereton Jones has emphasized the beneficial aspects of casino-related bills that would not only have a positive effect on the horse industry, providing economic incentives but would also supply new tax revenues for other state programs and services. In addition, the tracks equipped with casinos could much easier attract the best horses and increase their visiting crowds.
It is estimated that the track casino legislature could potentially yield $400 million or even more in tax revenue for the state. Last year KEEP was formed to endorse industrial unity by investing $1.4 million on advertisements and promotions of horse racing. Its members are spread around the entire Kentucky County. The Gov. Ernie Fletcher said that the mares are snatched away from Kentucky, since there are no incentives for the horse breeders. Pennsylvania and New York, where there are large incentive programs had the last two Kentucky Derby winners foaled.
Source: Online Casinos News Staff
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