Expanded Gambling in Kentucky can fund our state pensions.
In 2011 Spectrum Gaming Group presented an executive summary on market analysis and impacts. Within that report the Projected Gross Gaming Revenue for Kentucky in the first year of gaming tax is estimated at $464.7 million.
Gambling taxes paid by Kentucky horse tracks in 2014 was $2,926,357 compared to Indiana’s expanded gambling taxes of $219,046,758. Kentucky needs to expand gambling and take advantage of that untapped source of income to fund our state pension system rather than raising taxes.