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Wed January 7, 2009
By Tony McVeigh
Frankfort, KY – Kentucky House Speaker Greg Stumbo believes video lottery terminals at racetracks may be a fairly quick solution to some of the state's budget problems. He expects to have a bill ready for consideration later this week.
"I don't think it's good for our state if we lose our smaller tracks because the breeding interests will follow. And that is a huge impact upon our economy, so it's a very high priority with me. I want to see us do something to save our racing industry and also generate some much needed income."
Stumbo estimates VLT's could generate as much as 700-million dollars a year when fully operational. He does not believe VLT's at horse tracks would require a constitutional amendment on expanded gaming, since gambling is already allowed at the tracks.