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Kentucky Needs to Legalize Casino Gambling

Kentucky Needs to Legalize Casino Gambling

Over the last few years all the states surrounding Kentucky have legalized casino gambling; now Kentucky is one of just 10 states that haven’t legalized the pastime. For the past six years bills have been introduced to the General Assembly to legalize gambling, however, they have always failed to pass and this year seems to be no exception.

At present there are three bills on file in the Kentucky Legislature which suggests that it is just a matter of time before casino gambling comes to the state. As such, the focus should now be on ensuring that strict guidelines are established for regulating, controlling and taxing casino gambling.

It would be sensible to ensure a few basics in any legislation that passes. Most believe that there should be a limit to the number of casinos permitted and that any casinos which are built should be heavily taxed in order to maximize revenue for the states. However, it is important to be realistic about the amount of revenue that will come from gambling, often revenue is far less than initial projections would suggest.

Casino gambling is very much a part of life and it is important for Kentucky policy makers to recognize this and take advantage of it. Not to do so will simply result in missed revenues and an exodus of gamblers to neighboring states.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.