This story was published more than 4 years ago.
Kentucky Gubernatorial candidate Andy Beshear has come out in favor of legalizing casino gambling and sportsbetting within his state as a measure to help fix the state's failing pension fund.
The Bluegrass State has been struggling for a long time, and people are continuing to leave, even with the unemployment rate falling. The government's pension plan for state employees has suffered as a result of these issues. Retirees that served as teachers, cops, firefighters, and more are looking at being unable to get their monthly payments if the fund runs out of money.
This is where Beshear's plan comes into place. He feels that legalizing both sportsbetting and casino gaming would help breathe some life into those funds, as all revenue generated to the state would go to funding that plan. Beshear claims that the plan would solve the deficit in just one generation.
Needless to say, there are some skeptics who claim that gambling will not be able to fill the pension bucket, as the deficit is simply too large.
It's unknown whether or not gambling will be legalized in the near future, but it appears that the odds of success will go up should Beshear get elected to the executive's desk.
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Comments
That's an interesting idea, I think there's a good sense in that and I think it'd be no harm done if they legalize gambling and try to fulfill the pension plan..well at least partially.
Isn't that the whole point of the gambling legalization from a state point of view...use the gambling incomes for the areas of the community's life which need the most.