Latest News
Kentucky AG supports gambling to fuel pension funds
Reading Time: 2 minutes
Andy Beshear, Kentucky Attorney General, has urged legislators to widen the scope of legalised gambling to various avenue such as casinos, sports gaming and eventually online poker. He pointed out that gambling can become a dedicated revenue source for Kentucky’s underfunded pension plans.
Beshear wrote in a letter to the lawmakers legislators: “The solution is not to cut legally promised benefits, but to create a new and dedicated stream of revenue solely for pensions that does not raise any Kentuckian’s taxes. The answer is simple—expanded gaming including casinos, fantasy sports and sports gaming, as well as preparing for the eventual legalisation of online poker.”
Kentucky has the biggest public pension funding gap among the US states. Its total pension liability of $64.9 billion receives only 33.9% funding. In April, a Franklin Circuit Court judge ruled that a lawsuit Mr. Beshear filed against a pension reform law could move forward. His lawsuit is before the Kentucky Supreme Court, according to a release from Mr. Beshear’s office.
Besher filed a lawsuit at the Kentucky Supreme Court against a legislation, signed into law April 10 by Gov. Matt Bevin, that will put new teachers into a hybrid cash balance plan instead of the existing defined benefit plan overseen by the $18.1 billion Kentucky Teachers’ Retirement System, Frankfort.
He says the residents of Kentucky spend more than $1 billion in casinos in other states where casino gambling is legalised. He also pointed out that tax revenue from gambling in some of these states has touched $2.4 billion per year.
“The General Assembly should pass legislation to allow expanded gaming, but dedicate all of the revenue to Kentucky pension systems until those systems are fully funded,” Mr. Beshear wrote.
Mr. Beshear’s office could not immediately be reached for comment.
Blake Brickman, chief of staff for Mr. Bevin, said in an emailed statement that “funding alone will not solve the problem” facing Kentucky’s pension plans.
“Expanded gaming is a tired tenet of the Democratic Party, so it’s no surprise that candidate Beshear is using his official office to call for a policy which is also conveniently part of his campaign platform. Gov Bevin is the only governor to commit to fixing the pension crisis by fully funding the system and calling for necessary reforms to ensure that Kentucky can deliver on the promises made to retirees and current state workers.” Mr Brickman wrote.
Incidentally, Besher will be running for Kentucky’s governorship in the upcoming election in 2019.
Source: Latest News on European Gaming Media Network
The post EGT Digital is ready for another successful SiGMA Africa show appeared first on European Gaming Industry News.
Latest News
Stakelogic Expands Presence in Switzerland with Exclusive Blackjack Launch at Jackpot.ch
Award-winning Stakelogic Unveils Branded 7-Seat Blackjack Table at Jackpot.ch, enhancing the Swiss Live Casino Experience
Stakelogic has strengthened its position in the Swiss online casino market by securing an agreement with Jackpot.ch, the online platform of Grand Casino Baden, the country’s second-leading casino.
Offering Swiss players an immersive and premium live casino experience, Stakelogic has unveiled a branded Jackpot.ch Chromakey 7-seat Blackjack table, integrated through Gamanza as part of the partnership, guaranteeing flawless gameplay and outstanding performance.
This milestone is a significant growth phase for Stakelogic in the regulated iGaming market of Switzerland. Jackpot.ch is going to offer a distinctive and exclusive gaming experience to its players with the introduction of a branded blackjack table, thus cementing its position as a leading online casino.
Stakelogic’s Chromakey technology enables highly customisable branding, allowing operators to design a unique live casino setting. The 7-seat blackjack format boosts engagement, delivering a genuine and interactive table game experience.
With its latest launch, Stakelogic has further established itself as a leading supplier of live dealer products, with further emphasis on important regulated markets. Jackpot.ch players can now enjoy a high-quality, custom branded blackjack experience, adding to the online gaming landscape in Switzerland.
Neil Tanti, Head of Sales at Stakelogic, commented: “We are excited to team up with Jackpot.ch, one of Switzerland’s biggest online casinos, to introduce our branded 7-seat Blackjack table. It demonstrates our dedication to delivering innovative live casino solutions, which are tailored to meet the requirements of our operator partners.”
Brian Christner, Chief Online Gaming at Jackpot.ch added: “We are very excited about this partnership with Stakelogic. Their cutting-edge technology and dedication to quality align with Jackpot.ch’s mission to provide our players with the best gaming experience. The launch of our branded 7-seat blackjack table is a significant moment for us, as it sets a new standard for premium live casino entertainment on the market.”
The post Stakelogic Expands Presence in Switzerland with Exclusive Blackjack Launch at Jackpot.ch appeared first on European Gaming Industry News.
Immersive virtual product adds 30,000 extra events to leading African sportsbook
Logifuture, a leading supplier of award-winning iGaming products, has strengthened its partnership with leading African sportsbook Bolabet with the integration of Zoom Soccer.
Zoom Soccer delivers ultra-realistic virtual events for sportsbook users, delivering tens of thousands of events every month for nonstop 24/7 action. With no off-peak moments and a packed schedule that’s always relevant, Zoom ensures continuous engagement. Powered by RNG for steady margins and consistent profits, it creates a fast-paced, immersive betting experience that mirrors the excitement of real football games.
This extended partnership means Bolabet is now able to offer more than 30,000 extra pre-match and in-play betting events each month to its players in Africa.
The move follows the successful addition of Simulate – another of Logifuture’s pioneering virtual products – to the Bolabet platform in August 2024.
Niccolo Cassettari, Group Chief Business Development Officer at Logifuture, said: “We are thrilled to deepen our collaboration with Bolabet through the addition of Zoom Soccer, building on the success we have seen with our Simulate partnership.
“At Logifuture, we remain focused on delivering fast-paced and entertaining sports products, and with the expansion of Zoom Soccer, we are poised to meet that demand.
“As the need for dynamic, quick-turnaround sports content increases, particularly in emerging markets, this integration will further strengthen Bolabet’s virtual sports portfolio and offer players an unparalleled gaming experience.”
Bolabet CEO Justin Palmer said: “Bolabet aims to deliver an engaging and interactive experience for our players and it’s a pleasure to welcome Logifuture’s Zoom Soccer to our product portfolio.
“The addition of Simulate last year has been hugely popular with our players and we are sure Zoom Soccer will further enhance our players’ experience.”
The post Logifuture and Bolabet deepen partnership with addition of Zoom Soccer appeared first on European Gaming Industry News.
EGT Digital is ready for another successful SiGMA Africa show
Stakelogic Expands Presence in Switzerland with Exclusive Blackjack Launch at Jackpot.ch
Logifuture and Bolabet deepen partnership with addition of Zoom Soccer
A Royal Commemoration: ELA Games Releases Its Latest Title, Noble Crown
EGT’s stand at SiGMA Africa 2025 to be a focal point of the show
Trueplay Welcomes Marko Erakovic as Chief Commercial Officer
Ygam and NUS Charity Launch New Student Campaign
Open Days 2025: NOVOMATIC Italia Offers a Welcome to the Future of Gaming
FDJ Changes its Name to FDJ UNITED
Romania to Limit Gambling Spending to 10% of Monthly Income
-
Latest News3 months agoGamCare releases Annual Report following record breaking year of support on the National Gambling Helpline
-
Latest News3 months agoAbios powers upcoming gaming media platform Apollo with in-play statistics for League of Legends
-
Latest News3 months agoGovernment support, medals, and global recognition define a landmark year for Indian esports and video gaming in 2024
-
Latest News3 months agoKambi Group plc repurchase of shares during 18 December – 23 December 2024
-
Latest News3 months ago
India Levels Up: Emerging as a Global Gaming Powerhouse in 2024
-
Latest News2 months agoImagine Live Partners with King.rs
-
Latest News3 months agoGambling.com Group Enters into Definitive Agreement to Acquire Odds Holdings, Parent Company of OddsJam, a Fast-Growing Technology Platform for Real-time Odds Data, in Accretive Transaction
-
Latest News1 month agoSportradar’s Alpha Odds Receives Dual Honors at European iGaming Awards 2025
You must be logged in to post a comment Login