Friday, February 15, 2008
Governor Beshear Plans For 12 Casinos In Kentucky
Governor Steve Beshear is pushing a constitutional amendment to allow twelve casinos in the Commonwealth. The supporting legislation sets a 51% tax rate on gambling revenue, which the governor says would create nearly $600-million in annual revenue for Kentucky after five years.
It also calls for $500-million in licensing fees from seven casinos run by horse tracks. Keeneland and The Red Mile in Lexington would share a license.
The tracks would pay license fees ranging from $50-million to $100-million. Horse tracks that could apply include...Keeneland, The Red Mile, Churchill Downs, Turfway Park, Kentucky Downs, Ellis Park, Bluegrass Downs and Thunder Ridge. Five "free-standing" casinos would require approval by voters.
It also calls for $500-million in licensing fees from seven casinos run by horse tracks. Keeneland and The Red Mile in Lexington would share a license.
The tracks would pay license fees ranging from $50-million to $100-million. Horse tracks that could apply include...Keeneland, The Red Mile, Churchill Downs, Turfway Park, Kentucky Downs, Ellis Park, Bluegrass Downs and Thunder Ridge. Five "free-standing" casinos would require approval by voters.
# posted by Homer Owens @ 4:10 AM 
