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by: Gene Koprowski.
Kentucky House Speaker Greg Stumbo (D-Prestonsburg) has filed pro-gambling legislation, and said he expected slots would generate about $1 billion worth of taxable revenue within five years of being fully operational.

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That would translate to about $350 million per year for the state coffers, he added.

Stumbo said the matter won't come up for a vote in this legislative session, which is down to its final three days. But, he said, it could be brought back up in a future session, perhaps later this year or next year.

The new measure calls for allowing video gambling terminals at seven horse tracks, which advocates say could generate $328 million in the first year of operation. Each track that installs the video gambling terminals would have to pay license fees ranging from $25 million to $125 million.

The House Appropriations and Revenue Committee heard two hours of testimony this week from proponents who touted the need for the legislation.



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