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November 10, 2009

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Study says casinos siphoning money out of Kentucky

Thursday, Jan. 17, 2002 | 11:10 a.m.

FRANKFORT, Ky. -- Casino boats on the Ohio River made $352 million from patrons last year from Kentucky, where casino gambling isn't allowed. That's a $75 million increase from 1999, two economists say in a new study.

They calculated that gambling by Kentuckians translated to nearly $95 million in taxes for Indiana and Illinois. That was $19 million more -- a 25 percent increase -- from two years earlier.

One Indiana casino, Caesar's Indiana, had been open less than a year at the time of the first study. A second casino in Indiana, Belterra Resort, had not yet opened, the study noted.

The study was by Lawrence K. Lynch of Transylvania University and Paul A. Coomes of the University of Louisville. It was conducted for the General Assembly.

The new study comes at a time when the Kentucky horse industry is floating the idea around the Capitol of allowing racetracks to operate video lottery terminals, which are electronic slot machines -- "video slots." No bill has been filed, but one is expected.

Proponents say the tracks need video slots in order to compete with casino boats floating on the Ohio River, off the shorelines of Indiana and Illinois.

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