VLTs proposed in Kentucky

A working draft of a bill to allow video lottery terminals (VLTs) at racetracks in Kentucky was released yesterday by state Rep. Greg Stumbo. He plans to pre-file the bill for consideration in the 2009 General Assembly.

According to a news release, Stumbo’s plan would create new revenue for Kentucky’s horse industry by increasing purses, enhance funding for education, and reduce taxes for residents by eliminating state property tax on motor vehicles and motorboats. A percentage of proceeds would also go to the Thoroughbred and Standardbred Development Funds, Kentucky PRIDE, treating problem gamblers and to expand the state’s lottery options.

The lottery corporation would manage licensing of the terminals and the tracks that wish to obtain them.

Stumbo is looking forward to public opinion on the draft of the bill although it has not yet been pre-filed.

Last week, Rep. Tom Burch of Louisville released that he plans to pre-file a bill to allow 18,000 slot machines in the state with opportunity for each county to obtain them if so desired. This plan would allow for 6,000 slot machines at each of the eight licensed tracks in Kentucky.

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