Monday, April 9, 2012

Track Reports Instant Racing Wagering Increase

  • {Franklin, Kentucky}...Despite the death of the casino bill in the General Assembly in February, Kentucky Downs in Franklin posted a nearly 20 percent increase in wagering on Instant Racing in March. From September through March, more than $67.5 million was wagered on the game. Last month, players bet more than $15 million on the game, up almost $2.5 million from February. Most of the revenue was returned in the form of winnings, but Kentucky Downs netted more than $1 million for the month for the first time. March's Instant Racing revenue generated almost $145,000 for purses, while the state received more than $225,000, including more than $52,500 in taxes for the General Fund. The Family Foundation, a conservative advocacy group, is challenging the legality of Instant Racing. The Kentucky Court of Appeals is scheduled to hear oral arguments in the case April 25th.