Kentucky Racetracks Plea for Slots Extends

With the year’s biggest races behind them, Kentucky’s largest tracks are now looking toward the future, and the view is a grim one. Profits have been slipping at the tracks for several years, and the recent economic downturn has hit this segment of the gambling industry especially hard.

Kentucky has long been recognized as the heart of horse racing, and the sport generates a great deal of income for the state; an income that is subsidized by the many breeders and trainers that have made the Bluegrass State their home. Historically, the racetracks have been all about the horses and the state has been quick to emphasize this focus by restricting all other forms of gambling.

Recently this stance has fallen under fire as the Kentucky tracks have lost major action to the slots-subsidized purses offered by neighboring states. Track owners fear that the aforementioned breeders and trainers could also follow the cash across state lines, resulting in bigger losses across the board.

Last week, six of the state’s most notable racetracks spoke out at an emergency press conference demanding changes in gambling legislation and forecasting the failure of one of the state’s largest industries if these changes aren’t made immediately. First and foremost among the desired changes is a request for the state to expand its gambling legislation to allow the installation of slots and the institution of slots-subsidized purses at Kentucky’s racetracks.

Bob Evans, the current CEO of Churchill Downs, punctuated the urgency of the plea by stating, “We can’t wait any longer.” Already 11 of the states nearest to Kentucky offer some other form of trackside betting, and many others are expected to follow within the next year. “When that happens…look out,” Evans warned.

The press conference was just the beginning. This week, a series of radio ads will hit the air in an effort to rally public support for the motion, and these ads will be further supplemented by a mass mailing campaign that is expected to reach over 250,000 Kentucky homes.

State Governor Steve Beshear has already pledged his support, and a previous House proposal for video slots is under new consideration.