Kentucky Legislature Reviewing Casino Proposal
By Adam Ulick | February 19, 2008
According to Columbus Business First, the Kentucky General Assembly was presented with a proposal Tuesday that would authorize the building of as many as twelve casinos statewide.Newly-elected Kentucky Governor, Steve Beshear, the man who developed the proposal, believes that the revenue that legalized gambling would generate could help the state immensely.
"If the people of Kentucky vote 'yes' for limited expanded gaming, we strongly believe that the annual estimated fiscal impact of the legislation at full implementation would be approximately $600 million," said the governor.
That revenue would be allocated as follows:
Prior to being put to a vote by the citizens of the Kentucky, three-fifths of each house of the General Assembly must vote for the plan.
Seven of the twelve possible casinos would be at horse tracks or in counties that have tracks.The other five would be free-standing.The residents of the cities or counties where the proposed free-standing casinos would be built would have to give their approval via referendum.
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