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Tracks apply for licenses as Kentucky preps for sports betting launch

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dani3839

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Source - Full Story - GamingAmerica

Seven racetracks and seven Sports Betting operators have applied for licenses.
Governor Andy Beshear of Kentucky has stated that Sports Betting will officially launch in the Bluegrass State at
10:00AM EDT on Thursday, September 7, at licensed retail locations.

Bettors in Kentucky can pre-register bright and early at 6:00AM EDT on Monday, August 28, for a mobile sports'
betting account, while apps may take wagers from Thursday, September 28.

On August 22, after a Kentucky Horse Racing Commission (KHRC) meeting, a list of all approved retail and mobile
licensees will also be released before the betting begins.

The tiered launch dates listed above were chosen so that the KHRC may continue reviewing
applications for both retail and mobile platforms.

Some applications include licenses sought by seven Kentucky racetracks. Churchill Downs (Louisville),
Cumberland Run (Corbin), Ellis Park Racing & Gaming (Henderson), Oak Grove Racing and Gaming (Oak Grove),
Red Mile (Lexington), Sandy’s Gaming & Racing (Ashland) and Turfway Park Racing and Gaming (Florence) have all filed for retail licenses.

Governor Beshear said of the upcoming launch, “The countdown is on. We are ready to deliver the quality entertainment
experience Kentuckians asked for while bringing money to the state to support pensions and free up funds that can be used to build a better Kentucky.”

It is currently estimated that sports wagering will bring Kentucky approximately $23m a year. As well
as funding state pensions, almost 3% of funds will go to problem gambling assistance. An excise tax of circa
10% will apply to the adjusted gross revenue from retail bets, while just over 14% will apply to mobile/online wagers.
 

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