Ky. slots bill has 64% split

The bill introduced into the Kentucky legislature on Thursday calling for a referendum on casino gambling at racetracks would give the Thoroughbred racing industry 64 percent of the revenue from those casinos.

Under the bill, which has been supported heavily in advertising campaigns by a group called Kentucky Equine Education Project, racetracks would keep 49.35 percent of the casino revenue, while horsemen would keep 14.65 percent in the form of purses. The referendum would give Kentucky's eight racetracks a monopoly on casinos in the state.

The state's Legislative Research Commission has estimated that total annual proceeds from the casinos would be $1.25 billion.

The legislation likely faces an uphill battle in the Kentucky legislature, which has rejected calls for expanded gambling over the past several years.