You guys need to look North and see how that has worked out for Ohio. The money spent on enforcement for Casinos in Ohio is 3 times what the revenue it is generating. Also they cant even get the Marijuana program together in the state and have/will spend over 100 Million dollars before the first tax is collected.

 

In therory it sounds great, but you have to look at all aspects to get things like this to steam, and how much it will really bring in. How many casinos do you think KY will get initially? The market is already flooded with them in the area.

 

 

Flooded is is not a word I would use at all. You’re only thinking of NKY

No question. That's what makes the least sense here. State employees have been the victims of theft, and now they have to shoulder most of the responsibility for that? Senseless.

 

I imagine if the shoe was on the other foot, and state employees (or any citizen of Kentucky, for that matter) shorted the state, the result would be quite different.

 

Having said all of that, state employees will likely have to shoulder some of the load regardless of what actions are taken. But no way should they be expected to carry the bulk of this burden when it was not their fault to begin with.

 

This is one of the things that bothers me the most about this situation.

One thing this really underscores is the importance of not relying solely on your employer sponsored retirement plan. It's imperative that people, regardless of retirement plan or career choice, invest in IRAs, Roth IRAs, and other investment instruments.

 

Pensions in 21st Century America don't make sense at all IMO. That may be an unpopular opinion, but I would rather have more control over my retirement; not less.

Flooded is is not a word I would use at all. You’re only thinking of NKY

 

Where would they put casinos if it passed? High population areas, near the tracks right? Markets that are already flooded.

You guys need to look North and see how that has worked out for Ohio. The money spent on enforcement for Casinos in Ohio is 3 times what the revenue it is generating. Also they cant even get the Marijuana program together in the state and have/will spend over 100 Million dollars before the first tax is collected.

 

In therory it sounds great, but you have to look at all aspects to get things like this to steam, and how much it will really bring in. How many casinos do you think KY will get initially? The market is already flooded with them in the area.

 

Put a casino and a hotel at Keeneland, ironically one of places that has been against legalized gambling, and I guarantee money will be made hand over fist. Location is everything.

 

If we are too dumb to follow the Colorado model of legalized marijuana then I guess we’ll just be dumb.

 

Why would anyone follow anything Ohio does anyways? That’s where the losing begins is across the Ohio River.

You guys need to look North and see how that has worked out for Ohio. The money spent on enforcement for Casinos in Ohio is 3 times what the revenue it is generating. Also they cant even get the Marijuana program together in the state and have/will spend over 100 Million dollars before the first tax is collected.

 

In therory it sounds great, but you have to look at all aspects to get things like this to steam, and how much it will really bring in. How many casinos do you think KY will get initially? The market is already flooded with them in the area.

 

For sure, if it passed NKY would be the third Casino in the area. Louisville would have 2, Owensboro would have 2. That's large populations that would not see much increase. There may be more as I'm not familiar with what's in competition in the south and east.

I would by that if the non funding of the retirement plans had just happened in the last few years. Its happened for almost 2 decades......DECADES.... and those on the plans sat on their hands and did nothing. Now that someone is trying to address the situation (that they allowed to happen) its a big issue.

 

We're on the same page here. Where was this outrage when outright theft was occurring for nearly 20 years?

 

I certainly appreciate efforts taken to try and right this wrong, but the big problem is that those efforts have made a bad situation worse.

We're on the same page here. Where was this outrage when outright theft was occurring for nearly 20 years?

 

I certainly appreciate efforts taken to try and right this wrong, but the big problem is that those efforts have made a bad situation worse.

 

No one on the other end wants to put up a solution or take a concession to protect the future, they are to worried about the past.

 

I sorta wish nothing had been done in the legislature, let it go another budget unfunded, let the money run out, then what?

Where would they put casinos if it passed? High population areas, near the tracks right? Markets that are already flooded.

 

I agree. I think we’ve effectively missed the boat (no pun intended) on gambling. The casino boom burned pretty hot, but now many casinos in other states are struggling, as saturation points are being reached. I’m not sure that casinos are the answer.

Where would they put casinos if it passed? High population areas, near the tracks right? Markets that are already flooded.

 

If strategically placed, South central KY could draw heavily from the Nashville market. I don’t see why all options aren’t on the table. Casinos don’t have to be near or at tracks. I will tell you, Indiana casinos are waiting for the shoe to drop and KY to allow casino gaming. They at least 25% of the gaming facilities in Indiana count KY MSA’s as significant fight territories. Kentuckians are heavily supporting IN gaming. I’m sure Kentuckian gamers would be delighted to spend that money in their own state.

Put a casino and a hotel at Keeneland, ironically one of places that has been against legalized gambling, and I guarantee money will be made hand over fist. Location is everything.

 

If we are too dumb to follow the Colorado model of legalized marijuana then I guess we’ll just be dumb.

 

Why would anyone follow anything Ohio does anyways? That’s where the losing begins is across the Ohio River.

 

The Casino will make money yes, but will the state? Will the state make enough money to cover the enforcement required to have a Casino? (I believe it took Indiana 8 or 9 years to get an actual profit from the Casino's tax revenue brought in.)

For sure, if it passed NKY would be the third Casino in the area. Louisville would have 2, Owensboro would have 2. That's large populations that would not see much increase. There may be more as I'm not familiar with what's in competition in the south and east.

How would Owensboro have 2?

I agree. I think we’ve effectively missed the boat (no pun intended) on gambling. The casino boom burned pretty hot, but now many casinos in other states are struggling, as saturation points are being reached. I’m not sure that casinos are the answer.

 

I think that all changes if/when the Supreme Court finally allows sports betting in states. That's going to bring a boatload of money into the casinos that has been either going to Vegas or offshore for years and years.

The Casino will make money yes, but will the state? Will the state make enough money to cover the enforcement required to have a Casino? (I believe it took Indiana 8 or 9 years to get an actual profit from the Casino's tax revenue brought in.)

 

at an estimated 40% DAILY tax income, there better be a profit for the state. LOL. Figure it out. There’s major income potential or states wouldn’t t allow it

If strategically placed, South central KY could draw heavily from the Nashville market. I don’t see why all options aren’t on the table. Casinos don’t have to be near or at tracks. I will tell you, Indiana casinos are waiting for the shoe to drop and KY to allow casino gaming. They at least 25% of the gaming facilities in Indiana count KY MSA’s as significant fight territories. Kentuckians are heavily supporting IN gaming. I’m sure Kentuckian gamers would be delighted to spend that money in their own state.

 

Initial, I dont think IN will lose the market share they have. Over time, maybe so. Sure there will be initial interest because the KY casinos will be new, but there is a lot of loyalty in Casino people, they like to go where they go, and dont like change.