Saturday, June 06, 2009
Crisis measures focus on gambling to help Kentucky racing sector

The governor of US race state Kentucky is considering the expansion of gambling to assist the horse sector in times of economic crisis. Expansion would include the licensing of video lottery terminals at racetracks

The political opposition - against gambling - suggest alternative sources of income for racing, like the taxation of lotteries and out-of-state wagering on Kentucky horse races and using about $19 million in existing tax revenues from the horse industry that currently go to the state's general fund.

According to "The Louisville Courier Journal" both sides of the political spectre agree that Kentucky's horse industry is losing out to states that offer higher purses and breeding incentives funded by expanded gambling revenues. Nobody wants to risks losing an industry that currently provides $4 billion in yearly investment and 100,000 jobs.