Kentucky Casinos & Gambling
Kentucky Gambling - Kentucky Casinos - Kentucky Casino List
As there are no casinos in the state of Kentucky, horse racing is still the main activity that generates a big share of gaming revenues. Horse racing is Kentucky?s signature industry, employing more than 50,000 of its residents. To date, Kentucky has about eight race tracks in operation. Many of these tracks also have restaurants and bars.
But while there is more than enough of these to keep the public?s interest, business revenues have been particularly low. In a recent survey, the Kentucky horse-racing industry only ranks fourth, following California, Texas and Florida, in terms of dollar revenues and employment opportunities.
As a way to boost the horse racing industry and increase revenue, state representatives have filed a proposal allowing for some 25,000 slot machine terminals in race tracks and hotels, with the view to subsequently legalize stand-alone casinos. If approved, this plan would rake in about $200 million in revenues for the state of Kentucky.
Surprisingly, this measure has not been met with a lot of disapproval from the state?s residents, and observers say that the prospect of legalized gambling, casino-style is in the offing. There are in fact no specific Kentucky laws declaring that the playing of gambling devices is illegal. This early, casino operators are looking to develop, with very keen interest, Kentucky?s race tracks like Turfway Park (Florence), Thunder Ridge (Prestonsburg), Kentucky Downs (Franklin) and Churchill Downs (Louisville). In the meantime, locals of Kentucky travel to neighboring states, like Indiana, to play at riverboat casinos docked there.
Kentucy Derby
The Kentucky Derby, a traditional event since 1875, is an organized race-horsing activity where pari-mutuel betting and wagering is legal. Here, simulcasting and inter-track wagering is also applicable. This arrangement allows for other tracks to become secondary pari-mutuel organizations (SPMOs), giving customers the variety and increasing betting pools. The amount of money pari-mutuel betting generates from these races go to development funds. While betting is legitimate in the racetracks, Kentucky statute disallows bookmaking or wagering other than pari-mutuel betting. Consequently, minors are not allowed in these tracks, nor are they allowed to be employed at these locations.
Besides to horse-racing pari-mutuel betting in Kentucky there is charitable gambling and the Kentucky state lottery. Kentucky constitution (KRS Chapter 238) permits the operation of bingo, raffles and fundraising events conducted by licensed charitable organizations. The proceeds of these mostly go to educational funding. While the equine industry is currently defenseless against neighboring states? riverboat casinos, Kentucky charity bingo is in fact, debunking the trend and is actually growing despite the increased competition brought by the popularity of casinos.
Visitors to Kentucky can find lodging in a number of locations including the Executive Inn Rivermont, the Ramada Inn, and Blue Licks Battlefield State Resort. Most of Kentucky?s hotels have spacious rooms and a few overlook the Ohio River. Also, you will find unique features in Kentucky?s hotels including restaurants, game rooms, meeting facilities, lounges, exercise rooms, boat launching, miniature golf, access to nearby museums and swimming pools: both indoor and outdoor.
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