Business
12:22 pm
Mon November 26, 2012

Kentucky Ranks in Top 10 for Charitable Gaming

Credit Wikipedia Commons
 Charitable gaming in Kentucky last year was a $394 million industry, ranking the state among the top 10 for not-for-profit games such as bingo and raffles, said commissioner for the Kentucky Department of Charitable Gaming. Marty Hammonds shared the figures last week with the interim joint committee on licensing and occupation.

Hammonds said there were 653 organizations licensed to conduct charitable gaming in Kentucky in 2011. He said only 17 failed to produce the required 40 percent in net receipts of the charity’s adjusted gross receipts.  

Of those 17, Hammonds said seven had their licenses suspended while six voluntarily surrendered theirs. Kentucky requires that a charity’s net receipts from gaming be equal to or greater than 40 percent of the organization’s gross receipts for the year. He says the charities also received a greater share of the money.