Kentucky might be well on its way to legalizing casino gambling which has been one of the objectives on a state level since the beginning of this year. Now these efforts could be boosted by gubernatorial candidate Andy Beshear. He has vocally expressed his support of the gambling field and its introduction on a state level, which is expected to provide an economic boost to the area and make Kentucky an attractive location for everyone interested in gaming.
It could be recalled that the month of February brought the news that there is a group of Kentucky lawmakers which were considering an official proposal. The legislators who backed the idea claim that casino legalization could bring additional gambling tax revenue for the local pension systems which have been lately facing certain financial difficulties. Back then Representative Jerry Miller officially introduced a piece of legislation called House Bill 229.
If the latter is turned into law, it would bring certain amendments to the Constitution of Kentucky that would allow it to expand its gambling market by adding casinos to the state’s gaming offering. The proposed piece of legislation was backed by seven Republicans and one Democrat. In addition, this time the bill sponsors were supported by the state’s Governor Bevin.
There have been estimations made that the potential introduction of casino venues across the state might bring from as much as $250 million to $1 billion which would be beneficial for the currently struggling pension system. Now Mr. Beshear is willing to give the topic a second try and reintroduce it anew on a state level. He is the current Attorney General of Kentucky and the son of the former Democratic Governor of the state Steve Beshear.
What should be taken into account is that the latter has always been known as a supporter of gambling introduction. He ran for governor of the state back in 2007 with one of his promises being gambling expansion for Kentucky. However, he failed to introduce the necessary amendment to the state constitution which nixed his efforts to bring as many as 12 casino venues.
Next Year Could Witness Casino Gambling Greenlighting
This Monday witnessed the Attorney General’s announcement that he is planning to run for governor of the state. In addition to that, he made it clear that he is ready to work towards the introduction of legal gambling across the state, as this move has the potential to bring benefits to the economic state of Kentucky.
According to him, casino venues will be able to bring a revenue boost to the state which in turn would bring fresh cash to the pension funds utilized by the community. At the moment, racetracks operate machines which resemble slot devices but are in fact historical horse racing machines. There is also the possibility of sports betting introduction coming next year.
Even though there are people opposing the idea, claiming that gambling addiction levels could surge and perceiving the legalization as a threat, the additional funds which could be generated by casino venues. Mr. Beshear stated that the community is prepared to welcome casino facilities because they are able to observe the positive impact gambling has on states to the liking of Indiana and Pennsylvania, as well as other neighboring states.
These funds should be kept in the state and reinvested in the community. Mr. Beshear is the first candidate to announce his intention to run for Governor of the state in 2019. With the help of his promise to bring better days to the pension system of Kentucky he has the potential to win the support of voters and potentially become the new Governor.
Over the span of the past two years, this question has been bothering the community causing discussions seeking aid for it. Along with the legalization of gambling, there would also be some changes made to the tax rates of Kentucky, again striving to generate more revenue and fill the gaping hole in the state budget.