Gambling in Northern Kentucky
One of the major issues in the 2007 campaign for Kentucky Governor was the issue of legalized gambling. Incumbent Republican Governor Ernie Fletcher opposed casinos while Democratic challenger Steve Beshear supported an initiative to allow Kentucky residents to vote on the topic. Beshear won the election in a landslide, beating the incumbent Fletcher whose administration was riddled with scandal with 60 percent of the votes cast.
In January 2008, Governor Beshear said his gambling proposal should be ready for public viewing by early next month. Beshear is pushing for a constitutional amendment that would legalize casino gambling at Kentucky’s horse tracks and possibly some other locations, including the Northern Kentucky riverfront that borders Downtown Cincinnati.
Beshear said the plan could bring state coffers anywhere from $400 million to $500 million, but some lawmakers and economists have questioned those amount, placing the total taxes from legalized gambling closer to $300 million.
The Commonwealth’s horseracing industry has long-suffered due to Kentucky’s proximity to large casinos in border states such as Indiana and West Virginia that offer legalized gambling. Kentucky’s horseracing tracks welcome the idea of building casinos to attract large crowds that would increase profitablility and allow for larger purses to be paid to race horse owners in order to increase Kentucky’s influence on the horseracing industry which has been declining over the years.
Pat Crowley of the Kentucky Enquirer reported in January that if a gambling referendum is approved by the legislature and the voters, Northern Kentucky could be in line for two casinos. However, Turfway Park president Bob Elliston said Tuesday the region has room for one casino, and it belongs at the track. Turfway Park is a 20,000 capacity track located in Florence, an affluent suburb just 10 miles south of Downtown Cincinnati. Turfway is partially owned by gambling giant Harrah’s Entertainment which has already announced plans to build a $250 million casino adjacent to the Florence thoroughbred track should Kentucky legalize gambling.
Another Northern Kentucky group composed of local mayors of five riverfront cities including Covington and Newport have signed a letter to Governor Beshear expressing their belief that a casino should be located in one of the riverfront communities which border Cincinnati. These cities are older and less affluent and their riverfront areas need revitilization that a potential casino development could bring.
While it is possible that Kentucky will opt for two casinos in Northern Kentucky, it is more likely that the Commonwealth will only grant one license initially. While it remains to be seen who the winner will be between the riverfront communities and Turfway, the big loser of casino gambling in Northern Kentucky will be the three Southeast Indiana casinos located within a 45 minute drive of downtown Cincinnati.
Three riverboat casinos operate on the Ohio River just south of Cincinnati, bordering the Commonwealth. They are the Argosy, a 300 room hotel and casino within 20 minutes of Downtown Cincinnati, the Grand Victoria operated by Hyatt Hotels offering a 300 acre campus featuring 200 hotel rooms and golf course and Belterra, a Vegas style hotel and casino 45 minutes from Cincinnati and an hour north of Louisville, Kentucky’s largest city and regional population center.
Additional resources:
For Kentucky election 2007 results:
http://www.courier-journal.com/apps/pbcs.dll/article?AID=/20071106/NEWS0106/71106041
To see Beshear’s election night speech: http://www.youtube.com/watch?v=QgPomXyCU1Y
http://news.nky.com/apps/pbcs.dll/article?AID=/AB/20080118/NEWS0103/801180423
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