A report on Kentucky.com indicates that the cost of increased regulation for the Kentucky horse racing industry could cost nearly $5 million, according to numbers discussed yesterday.

Kentucky Horse Racing Commission executive director Lisa Underwood has said the state needs to hire at least eight full-time employees and 18 part-time, which would add about $1.1 million to the agency budget, including salaries.

The KHRC currently has a $3 million budget, but if all the projections come to fruition the tab could be closer to $7.8 million.

"Times are tough economically. We're at a point where we could either hunker down or take a leadership role. We think we should take that leadership role," Underwood said. "We think now's the time to have [racing] properly regulated."

To read the Kentucky.com article in its entirety, click here.

(With files from Kentucky.com)