CASINO

Kentucky begins discussion on casino legislation

TAGs: Casino News, Kentucky, legislation

KentuckyThe move to legalize casino gambling in Kentucky is now beginning with supporters of a legislation making their voices heard in front of state lawmakers.

The issue, as its always been, is whether legalizing casinos in the state would create the necessary funds the state could use for itself. Proponents of the move made it clear to lawmakers that the best option in getting the extra stash of cash would be to open up the state to casinos and as such, a pair of gambling proposals were presented to the House committee.

With all the back-and-forth going on regarding how to best proceed with the issue, a number of lawmakers have come out and drawn lines on the sand.

Democratic Rep. Larry Clark of Louisville, the second-ranking House member, understands how casinos would help generate more funds for the state in light of its current budget problems. “We have to have a revenue source, and this is the best and easiest way to do it,” he pointed out, as quoted by Business Week.

The driving forces behind the move to legalize casinos have proposed a setup wherein voters would have a chance to decide on the fate of a companion bill in the fall. If the votes come, then a move will be made to address how to best proceed in establishing a framework that would allow up to eight casinos, how  the industry would be regulated, and how much share the state stands to make from the revenues.

Clark estimates that the state could potentially receive up to $286 million in tax revenues, an amount that could be used in a number of state projects, including programs for the educational sector.

With the way Kentucky has been struggling to generate money, having casinos is sounding like a better and better idea by the day. What’s important is to flesh out all the details, iron out all the nuances, and ensure that the process towards legalization not only gets the public’s support, but becomes as seamless and as painless as possible.

It’s easier said than done, but you can’t discount what dollar signs will do to a state who needs it.

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