Sunday, October 07, 2007

Kentucky Already Losing $500 Million A Year To State-Sponsored Gambling

Gubernatorial candidate Steve Beshear keeps talking about bringing in $500 million a year with casino gambling.

A chart in today's New York Times about state lotteries falling short of expectations suggests the surest way to inject $500 million back into the economy would be to get rid of the Kentucky Lottery.

($742 million in sales minus $204 million in profits equals $538 million in losses last year alone.)