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Kentucky Horse Industry Ready for Gambling Debate7 January 2002KENTUCKY –– As reported by the Kentucky Herald-Leader: "In preparation for the legislative session that begins Tuesday, horse-industry officials have been educating lawmakers, business leaders and anyone who will listen about the toll that riverboats and `racinos' are taking on Kentucky's billion-dollar signature business. "The aim is to find a way to compete. The options include slot machines, video lottery terminals and track-based casinos. "Gov. Paul Patton said last month that he'd be inclined to sign legislation that would allow VLTs, or electronic slot machines, at Kentucky tracks. "…Horse-industry leaders such as Churchill Downs racetrack President Alex Waldrop and Kentucky Thoroughbred Association executive director David Switzer say they are continuing to work on a plan that will benefit horsemen as well as the state. "…A 1999 PricewaterhouseCoopers study estimated that by 2010, revenue from slot machines could reach $820 million, and the taxes could hit $242 million. VLTs, which can have a somewhat slower rate of play depending on how they're programmed, were projected to reach $638 million, with $191 million in taxes. "A 2001 study by Pennsylvania State University concluded that putting 6,000 slot machines at that state's four racetracks would result in $236 million in state and local tax revenue. "Still, no one thinks the process in Kentucky will be simple. In the past, staunch opposition has stopped similar efforts, and the Kentucky Council of Churches and others who oppose expanding gambling are ready to fight again. "…Some lawmakers think that such an expansion would only end up in court. A constitutional amendment, which would have to be approved by voters, is the only way to go, they say. "…House Speaker Jody Richards, D-Bowling Green, and Attorney General Ben Chandler have said they think a constitutional amendment is necessary…" |