I'd guess that's one reason CHDN is trading down today in an up market.

The silver lining: the Ohio vote adds to the sense of urgency for KY lawmakers. Turfway (most susceptible to OH casinos) will NOT stay open beyond 2010 if legislation isn't enacted by the KY next year, and 2010 would likely be Ellis' last year in operation as well.

There is little reason to give KY legislators credit for vision, leadership and persistence beyond their efforts to get re-elected, but I'd like to think they might figure out how to get it right this go around.