Kentucky Sports Bill Runs Out of Time for 2019 General Assembly
Kentucky Sports Bill Would Bring in Millions for the State
Furthermore, the state of Kentucky would’ve charged a $500,000 license fee along with taxing the proceeds. Koenig claimed that annual funding would’ve reached between $20 million and $48 million. This would’ve helped address Kentucky’s financial issues, especially their public pension shortfall.
The Kentucky sports betting bill managed to draw support from across the aisle. Koenig, who is a Republican legislator, received support from 11 Democrat cosponsors. Moreover, business groups across the state along with the state’s Chamber of Commerce and the Kentucky Equine Education Project (KEEP), endorsed the bill.
Some See Sports Betting as Exploitative
Those that aren’t happy about the Kentucky sports betting bill are glad to see it stall in the 2019 GA. Senior policy analyst for the Family Foundation of Kentucky, Martin Cothram, reportedly said that supporters wanted to evade the state’s Constitution. The Foundation said if any initiative to expand gaming wants to be passed, it should be voted on by the residents of Kentucky, like any Constitutional amendment.
“We believe it is not the state’s role to allow and to profit from the exploitation of its own citizens,” Cothram said. “We know a lot of money was spent by the casino industry to get it passed, money some of which was gotten from people who could ill afford to lose it.” For more news on the US casino industry, stay with BestUSACasinoSites.com.