I hope Governor Beshear was serious about his promise to promote casino gambling in Kentucky.
Because our state is in dire need of revenue. And far too much of it goes across our borders every day as thousands of Kentucky gamblers help pay for other states' roads and school systems at our expense.
If Kentuckians gamble, Kentucky should reap the benefits. But we need to think big.
Given their huge profits, the companies that operate casinos pretty much have a license to print money. So why not make them pay for that license?
If Kentucky allowed five casinos within its borders and demanded a one-time-only license fee of, say, 300 million dollars in order to build and operate one, who really thinks we'd have trouble finding five companies willing to take us up on that deal? Sure it's a lot of money. But everyone in the gaming business knows it'd be a small price to pay for the potential return.
Meanwhile, such a move would generate 1.5 billion dollars in one fell swoop - in addition to the significant tax revenue Kentucky would receive every year.
We're sitting on a tremendous asset here. And we're foolish not to exploit it.
But we'd be wrong to share it for even a penny less than it's really worth.
I'm Bill Lamb, and that's my Point of View.
