Kansas Speedway casino plan approved; UPDATE: Comments added

Posted by Nick Sloan on December 1, 2009 - 2:40pm
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The casino plan for the Kansas Speedway project has been approved by an unanimous 7-0 vote by the Kansas Gaming Facilities Review Board.

The approval is the second time the Kansas Speedway site has been approved by the board.

The multi-phased casino will include $361.8 million casino and dining area in phase one, with a hotel and casino expansion coming in phase two. Phase two will cost around $159.1 million to construct.

At least one more phase of the casino is possible if the market demands it.

In its first year, the casino is expected to generate $203 million in revenue for the State of Kansas. It will include 2,300 slot machines, 86 table games and over 100,000 square feet of gaming space.

The dining area will consist of 28,000 square feet of restaurants, clubs and night-life attractions.

Once built, the hotel is expected hold 300 rooms.

The State of Kansas will now conduct (more) background checks on Kansas Speedway and Penn National Gaming, who are partners for the project.

The official address for the Hollywood Caisno will be 821 Speedway Boulevard in Kansas City, Kan.

UPDATE (2:57 p.m.) : Lesa France Kennedy, International Speedway Corporation Chief Executive Officer, offered these comments about the news:

“We are delighted to have been chosen to bring this unique facility to Kansas Speedway. International Speedway Corporation is committed to creating a world-class sports and leisure destination at Kansas Speedway and we believe this effort will enable us to bring a second NASCAR Sprint Cup series date to the speedway.  Partnering with Penn National Gaming on this project will allow us to develop a property that will be well-positioned to maximize tourism, drive additional tax revenue, attract national media attention for the state of Kansas and our host community, Wyandotte County, and ultimately create value for our shareholders.”

UPDATE (3:00 p.m.): Kansas Speedway President Jeff Boerger released the following statement:

“We’re pleased with today’s decision by the Kansas Lottery Gaming Facility Review Board. This exciting decision will allow us to petition NASCAR to bring a second NASCAR Sprint Cup Series date to Kansas Speedway and continue to make Kansas Speedway one of the top motorsports facilities in the country. We look forward to continuing our great relationship with the state of Kansas and the Kansas Lottery throughout this project.”

UPDATE (3:57 p.m.) Peter M. Carlino, Chief Executive Officer of Penn National:

“We are grateful for the Kansas Lottery Gaming Facility Review Board’s selection of Kansas Entertainment to develop a distinctive entertainment facility in Wyandotte County and are excited to bring new jobs, tax revenues and sustainable economic benefits to the region.  Both Penn National Gaming and International Speedway Corporation are committed to the long-term success of our planned first-class destination resort and to the long-term economic success of this project in Wyandotte County and the state of Kansas.

“International Speedway Corporation is an ideal partner to work with on this exciting project as we can bring to bear Penn National’s demonstrated success in developing premier regional entertainment and gaming facilities with the strong appeal of NASCAR® racing that ISC cultivates on a daily basis across their network of thirteen tracks and entertainment facilities.   With facility openings over the next two years in Maryland, Ohio and Kansas, Penn National is strategically expanding and diversifying its operating base to meet our goal of building long-term shareholder value.”
 

Posted by william smith on February 18, 2010 - 2:51am
nternational Speedway Corporation is committed to creating a world-class sports and leisure destination at Kansas Speedway and we believe this effort will enable us to bring a second NASCAR Sprint Cup series date to the speedway. Partnering with Penn National Gaming on this project will allow us to develop a property that will be well-positioned to maximize tourism, drive additional tax revenue,We are grateful for the Kansas Lottery Gaming Facility Review Board’s selection of Kansas Entertainment to develop a distinctive entertainment facility in Wyandotte County and are excited to bring new jobs,
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Posted by K Hontz on February 19, 2010 - 7:50am
I think what happened to the Woodlands was terribly unfair. I miss going to that beautiful facility. I will never go to a casino. But I miss those exciting horse races we used to have.
Posted by John Altevogt on February 19, 2010 - 11:00am
It would be nice if ISC would pay some taxes of its own rather than just allegedly driving tax revenues elsewhere. The races may be exciting, but ISC's business practices leave much to be desired.

While we're at it, how about raising the speed limit around the race track, UG? 40 MPH is ridiculous for that road. You don't have to kiss their backsides all the time, it's not like they're going to go away.
Posted by christopher scott on February 19, 2010 - 1:32pm
This is scheduled to be a NON SMOKING venue correct???
Posted by K Hontz on February 20, 2010 - 5:30am
They won't be serving alcohol at this place will they? I just hate being around a bunch of drunks. Would be one more reason not to go to the casino.
Posted by Roger Thompson on February 20, 2010 - 12:30pm
Correct. No alchohol and no smoking at the casino.

There will also be mandatory prayer services every hour.
Posted by K Hontz on February 21, 2010 - 6:38am
Thank you, that's what I hoped. :)
Posted by John Altevogt on February 22, 2010 - 10:16am
The prayers will be ongoing as the suckers pray for a win. This isn't gambling, it's only a question of how long it takes to lose the money. Yet another regressive tax in Wyandotte County. Will they be donating any money to cure the social ills they cause, the broken families, foreclosed homes and shattered lives of the children that are the indirect casualties?
Posted by John Altevogt on February 22, 2010 - 10:28am
I just love the way they use races to bleed even more concessions out of these idiotic politicians, like they would have said no to begin with. What do we care about another race? Business actually goes down on race days up at The Legends. What's the payoff to Kansas City for another race? And, if it's such a good thing, why didn't they do ii before? Seems to me this is one of the scams their critics warned us about when they showed up.

Oh well, who cares if they don't pay taxes. Gene bryan can always appraise our houses at 300% of their actual value sine COTA won't do anything to stop him, and the UG can up the sales tax another percent or two. Smile it's Monday and we're all still alive for the moment.