Beshear Releases Priorities on Vision to Expand Gaming & Create New Revenue for Pensions
As new commercial gaming facilities are opening up just across the border in Indiana today, Andy Beshear is releasing his priorities for expanding gaming to make Kentucky more competitive and fund public pensions for public servants like teachers and first responders.
These new opportunities will include legalizing casinos, capitalizing on fantasy sports, sports betting, and preparing for online poker. And just like when Andy Beshear fought to protect public pensions from Matt Bevin’s illegal cuts, a Beshear/Coleman administration will direct 100 percent of the tax revenue to fund the pension system for public servants like teachers and first responders.
Gaming is a major opportunity to create new streams of revenue. Commercial gaming is a growing industry that created more than $40 billion in revenue and $9 billion in direct taxes across the 24 states that have embraced gaming in 2017. Estimates show that Kentucky loses over $500 million in tax revenue a year to neighboring states and less than ten casinos could generate over $1.7 billion in economic activity in their first year. Indiana alone consistently nets hundreds of millions of dollars in revenue every year. Additionally, more revenue staying in Kentucky also means more jobs created from building new resorts and attracting more tourism.
Matt Bevin used to say that neighboring states were “eating our lunch.” But rather than make Kentucky competitive with its neighbors, this governor prefers to spread lies about expanded gaming, while states like Indiana, West Virginia, Illinois, Missouri, Tennessee, and Ohio continue to open up new gaming opportunities just across our borders.
“Expanded gaming is a long-overdue and common sense way to make Kentucky more competitive and protect the hard-earned pensions of our teachers and first responders,” said Andy Beshear. “While Matt Bevin is making up excuses and false claims, Indiana and our neighboring states continue to steal our revenue. I’ll always put the best interests of our people first — and that includes expanding gaming to create new opportunities here in Kentucky.”
The revenue created under the Beshear/Coleman plan will also alleviate the financial burden of local counties and health clinics, as well as other quasi-governmental agencies like rape crisis centers, which are currently forced to bear the costs of Governor Bevin’s refusal to expand gaming.
Additionally, the plan notes that Andy Beshear and Jacqueline Coleman are committed to expanding gaming in Kentucky in a responsible manner, which means working closely with nonprofits and other resources that exist to help people experiencing addiction. They will also ensure gambling addiction nonprofits and treatment centers are included in any conversations about expanded gaming and require all casinos and facilities offering gambling entertainment to dedicate a percentage of their net profits to funding treatment resources.
