FRANKFORT, Ky. (WTVQ) — With horse racing in the spotlight and the Kentucky Derby just weeks away, lawmakers passed a bill earlier this week aimed at changing the way the horse racing industry works.
The Kentucky Horse Racing Commission is an independent agency that regulates various aspects.
“Senate Bill 299 consolidates all three legal areas of gaming in Kentucky under one Kentucky Horse Racing and Gaming Corporation, very similar to the model used by the Kentucky Lottery Corporation.” said Sen. Damon Thayer, the bill’s sponsor.
This bill will change the future of bluegrass horse racing.
“It will bring quasi-mutual betting, sports betting and charitable betting all under one board and one management team, giving these very important industries even more independence and independence from the whims of politics. “I guess,” he added.
The independent entity will be called the Kentucky Horse Racing and Gaming Corporation.
Gov. Andy Beshear vetoed the bill, but lawmakers overrode the veto earlier this week.
“As we continue to give racing commissions more and more responsibility, they have to hire more and more employees, and more and more money is coming in and out of them. More independence. “I thought we needed to have that and not be subject to the whims of politics,” he said.
Sen. Thayer said board members must be approved by the state Senate and then vetted by the Executive Branch Ethics Commission.
Mr. Thayer is the Senate Majority Leader.
Inspiration is to be the best.
“Our horse racing industry will be subject to a higher level of integrity and oversight. We are industry leaders. North America has the best horse breeding operations and industry in North America, and from now on we will ensure that we maintain our position as the equine capital of the world’s horse racing and gaming sports betting charity. “This will require a higher level of integrity,” Thayer added.
SB 299 would also dissolve the state’s Charitable Gaming Division next year.
Thayer added that he is excited to be competing in the 150th Kentucky Derby for now.
