Kansas Lottery Commission Delay Vote On New Casino Operators
Thursday 22nd May 2008
While they have been listening to 11 different pitches over the last few days and had expected to make an announcement about the winners this week, it seems that Kansas Lottery Commission will delay the results until next week. It appears that a number of those involved in the pitch have yet to sign the relevant legal documentation.
The winners will be announced as preferred operators of the States new casinos at Wyandotte, Ford and Sumner counties. This is the latest in an ongoing program of casino openings and follows last month’s successful appointment of an operator for the Cherokee Country casino which will be run by Penn National Gaming Inc.
The Commission is currently in negotiations with those looking to operate the new casinos development and while the traditional state slice of casino revenue has been 22% for sometime, the authorities are hoping to negotiate a larger figure. This will prove to be a very lucrative line for the authorities and while they will not operate the casinos directly there are a number of provisions being made to ensure the operations are financially secure.
Each bidder for the three new casinos mentioned above will need to put substantial funding aside for future development with as much as $225 million required for the larger of the casinos.
While they have been listening to 11 different pitches over the last few days and had expected to make an announcement about the winners this week, it seems that Kansas Lottery Commission will delay the results until next week. It appears that a number of those involved in the pitch have yet to sign the relevant legal documentation.