It’s time to talk about the elephant in the room. If the Governor wants to implement expanded gambling in the form of slot machines at Kentucky’s race tracks, Steve Beshear should call a special legislative session. It’d be quick, painless and cheap. The votes are allegedly there and it’s a deal too good to pass up.
If the man is serious? He needs to stand up by showing leadership. He needs to address the entire state– on television and radio– taking charge. He needs to work with the Speaker of the House and get it done.
$500 million dollars (over five years @ $100 million per year) in licensing fees are there, ready, waiting to be given to the state.
$200 million+ per year in tax revenue stands to be made, right?
And if we don’t act– fast– two of Kentucky’s signature tracks will close. Both Turfway and Ellis Park will shutter their doors.
Why we’re piddling around and wasting time and money, we’ll never know. But one thing is certain: It’s time to step up to the plate and get this done or it’s time to shut up, forever, the end.
4 responses so far ↓
1 Jim Anderson Stivers // Feb 18, 2009 at 1:55 pm
$200 million+ per year in tax revenue stands to be made, right?
And if we don’t act– fast– two of Kentucky’s signature tracks will close. Both Turfway and Ellis Park will shutter their doors.
All kinds of claims have been made regarding the income. But, no analysis has been made on the cost of gambling addiction.
There is not easy fix and Slots oh, pardon me, Video Lottery Terminals, are certainly not the solution.
Cost of administering the Slots idea will exceed the income by more than two times.
I am not very good at math . . . but that seems like a loss of 200M?
If is wrong for government to finance government with proceeds from gambling.
The Human cost if far too high.
Gambling like many other business is taking its own hits right now. MGM is around 6 bucks from a high of over 60 bucks. So are other gaming stocks.
2 Ray Re // Feb 18, 2009 at 2:16 pm
Has King David of the Cumberlands changed his position since his good friend Greg of Tort ascended to Speakerdom?
3 jake // Feb 18, 2009 at 2:20 pm
Some sort of deal has definitely been cut.
4 Ray Re // Feb 18, 2009 at 2:58 pm
Hope you’re right. Only Republicans can take out the King and that would light the fuse. Of course, if the deal is to let the “people decide”, that might be different.
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