Kentucky Off-Track Betting is closing its Jamestown facility and its OTBs in Corbin and Maysville. WJRS NEWS has confirmed the Off-Track Betting facility in Jamestown will close in early June after 20 years of operation on North Main Street. The closing of the local OTB will result in the loss of jobs for six full-time and a dozen part-time employees. The closing will also impact the City of Jamestown’s budget in the amount of approximately $23,000. OTB pays the City a percentage of its gross wagering.
Kentucky Off-Track Betting was formed in 1993 by Churchill Downs, Ellis Park, Keeneland and Turfway Park. According to Laura Prewitt, OTBs General Manager, the main impetus behind the partnership was to generate “handle dollars” which would in turn help build Kentucky’s purse structure.
In the past 10 years, Kentucky Off-Track Betting has generated an average of $1.4 million per year dedicated to Kentucky Thoroughbred purses. Additionally, OTB also gives .75% of every dollar handled to the city where a facility is located and each county receives .25% of each dollar bet.
Prewitt said economic factors along with the decline in overall handle at the outlets have forced the decision to close its facilities. Ten years ago, a total of $25.7 million was being wagered at the three OTB outlets compared to $10 million last year.
June 8th will be the last day for betting at the Jamestown OTB with June 9th the final day to cash in winning tickets.