LEXINGTON, Ky. (LEX 18) — Jon Rabinowitz joked that the sign outside the Kentucky Horse Racing Commission office on Ironworks Pike needs to be changed and he is right due to a state change.
On Monday morning, the state’s new Horse Racing and Gaming Corporation held its first board meeting. The change was inevitable given the addition of legalized sports wagering of all kinds in Kentucky 10 months ago.
“Today is really the rollout and the beginning of the foundation we’re going to build of the new corporation for our signature industry,” said Rabinowitz, who serves as Chairman of the Board.
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This branch of the commission was necessitated when state legislators voted to legalize sports wagering in Kentucky, beyond horse racing. It will have its own President and COO, and a CFO, positions Rabinowitz said would be added in the coming months. So far, adding sports to horse racing has only helped business.
“It exceeded out expectations,” said Commission President and CEO, Jamie Eads.
Rabinowitz said it helped the “take” at the tracks as well.
“To tie it to the tracks made a lot of sense and when we brought the together (in the same facilities) they complimented each other so well,” Rabinowitz added.
Eads said it was a good thing that Kentucky waited to pull the trigger on legalized wagering.
“We had the framework we could copy from a little bit here and there,” she said.
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Rabinowitz said legalizing wagering in Kentucky was a common sense act, and now the addition of this arm of the commission will ensure its safety and success for generations to come.
“We’re going to have committees in place to help with the transition, and start laying the bricks so we can continue on,” Eads noted.
