Stumbo’s Bill Discussed

Just as Kentucky is discovering that they will not be able to take control of the online gambling names, they are also trying to decide what to do about the video slot machines that House Speaker Greg Stumbo is proposing. Stumbo would like to bring in the slot machines to Kentucky horse tracks in an attempt to make more money for the state.

The committee discussed the slot machines saying that it might be a viable option for the state. The discussion took place in Frankfort on Wednesday with many of the lawmakers thinking that this might be a good idea for the state. The House Licensing and Occupations committee is discussing the bill while the legislature is in recess.

Many who were there in support of the slot machines said that they were being left behind in the racing industry. They said that Kentucky was coming up short and that as other states were already using slot machines to fill their purses and bring in better horses that they were behind the curve. They said that the state’s racing industry would most likely not survive in the long run if slot machines were not approved.

They argued that not only are the slot machines able to bring in more money for the purses, they are also able to bring in more jobs, thus helping their economy even more. They say that the slot machines could bring in $700 million in taxable revenue the first year and then $1.2 billion every year after that.

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