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Kansas City, Kan. casino plan approved

December 2, 2009

TOPEKA - The Kansas Lottery Gaming Facility Review Board has unanimously approved a $521 million project at Kansas Speedway. The plan was submitted by Kansas Entertainment, LLC, a 50/50 joint venture of Penn National Gaming, Inc. subsidiary and Kansas Speedway Development Corporation.

The casino will overlook Turn 2 at Kansas Speedway in the North East Gaming Zone in Wyandotte County, Kansas. It will have a Hollywood theme and feature a 100,000-square-foot casino floor with capacity for 2,300 slot machines and 86 table games. The initial construction will cost $386 million. Within 2 years of operation the plan is to add a hotel. The hotel was a key issue for review board members.

The next steps include background investigations and licensing by the Kansas Racing and Gaming Commission, which are expected to be completed in early 2010. Ground breaking is planned in the second half of 2010 and construction will be completed in the first quarter of 2012. It is hoped that net revenues will reach $220 million in 2013.
In a separate action the review board postponed a decision on a Wichita casino. The developers, the Chisholm Creek Group, requested the delay to revise their plans for a $225 million casino complex about 20 miles south of the city.

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