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Old 09-20-2008, 07:19 PM   #1
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Default KS SPEEDWAY GETS CASINO/HARDROCK CAFE

LOOKING GOOD FOR THE KS SPEEDWAY KANSAS LOTTERY AWARDED THE CONTRACT/LICENSE TO BUILD A MEGA CASION NEXT TO THE SPPEDWAY AND HARDROCK CAFE ANNOUNCED THEY ARE COMING TO KS AT THE SPPEDWAY/LEGENDS.

This link will take you to the front page of KC paper, click on the story and it will come up in a text mode....
http://activepaper.olivesoftware.com/Daily/skins/KansasCity/navigator.asp?skin=KansasCity&BP=OK&AW=12219560080 26
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Old 09-21-2008, 01:57 PM   #2
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Default RE: KS SPEEDWAY GETS CASINO/HARDROCK CAFE

All I get is a coverpage wanting me to subscribe ot the KC Star online paper E Star. How about posting the story for us.
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Old 09-21-2008, 05:59 PM   #3
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Default RE: KS SPEEDWAY GETS CASINO/HARDROCK CAFE

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CASINO, SPEEDWAY WILL BE NEIGHBORS


Hard Rock to roll in KCK



State review board picks a $705 million proposal over two competitors for a gambling project.


By RICK ALM and DAVID KLEPPER
The Kansas City Star




A Hard Rock casino next door to Kansas Speedway will put the state on the national tourism map — and almost certainly ignite bistate casino competition.
“There’s no reason Kansas can’t be in the top 10 in U.S. tourism,” a jubilant Jeff Boerger, speedway president, said minutes after the Wyandotte County track and its partners were named Friday by the Kansas Lottery Gaming Facility Review Board as the winner in a yearlong selection process.
“We’re going to be the mecca of motor sports … a world-class destination,” Boerger promised.
The speedway’s $705 million proposal was chosen by a four to three vote for a 15-year contract to build and manage a state-owned casino in Wyandotte County.
Matt All, review board chairman, cast the deciding vote. He called the speedway proposal’s tourism potential “a once-in-alifetime opportunity … an iconic symbol in Kansas.”
Golden Gaming owner Blake Sartini, one of two jilted suitors for the state’s contract, was gracious in defeat after drawing votes from board members James Bergfalk, Bob Boaldin and Jack Brier.
“The speedway was a great proposal,” said Sartini. “In the end, Kansas City won with any of the proposals.”
A plan advanced by the Connecticut-based Mohegan tribe and RED Development, builders and managers of the Legends entertainment and retail district on the speedway’s north side, drew compliments but no votes.
Despite Friday’s vote, the Hard Rock Hotel & Casino is not a done deal. Executives with the speedway and parent International Speedway Corp. and partner Cordish Co., must undergo background vetting and approval by the Kansas Racing and Gaming Commission by the state’s Dec. 6 deadline.
Boerger said Friday that planning would begin in earnest for an interim casino at the speedway that would open by June with 2,000 slots and 75 table games. The entire project northwest of Interstates 70 and 435 is scheduled to open in 2011.
The Review Board also deferred a decision on which of two applicants to pick for a casino in Dodge City until Friday. The board is seeking more financial details from the applicants.
Rep. Tom Burroughs, a Kansas City, Kan., Democrat who watched gambling bills fail in the Kansas Legislature for more than a decade, applauded Friday’s landmark decision.
“I’m very excited that in this economic downturn, we have people who really want to invest in Kansas,” he said.
With the promise of two annual NASCAR races and other new motor-sports and tourism attractions, the speedway’s permanent Hard Rockbranded casino and hotel will offer 3,000 slots, 140 table games, 300 hotel rooms and more than 275,000 square feet of new retail, dining and entertainment attractions choreographed by Cordish, the Baltimore-based developer of Kansas City’s Power & Light District.
Missouri-side casino operators are sure to watch the Hard Rock’s progress warily.
The Hard Rock’s gambling capacity will exceed that of the local market’s current big dog, Ameristar Kansas City Casino and Hotel, which has 184 hotel rooms, 3,005 slots and 105 table games.
The new casino promises to pose a formidable challenge in Kansas City’s crowded gambling marketplace, where four Missouri-based riverboat casinos last year raked in $720 million from gamblers.
State consultant Cummings Associates in one scenario estimated Hard Rock’s appeal could grow the overall Kansas City casino market by about $94 million a year, to $814 million. But the consultants noted the $241 million they estimate as Hard Rock’s share could include as much as $174 million a year snatched away from Kansas City’s casinos.
Area riverboats won’t sit still for a fiscal raid on that scale and can be expected to enhance their physical plants and player reward programs. But it’s too early for them to tip their hands.
“That is huge,” said Ameristar executive Troy Stremming of the dollars at stake.
“But that 170 million they’re talking about coming out of Missouri is based on the current regulations in Missouri,” including the state’s $500 loss limit, he said.
“If we have the same set of rules, we can compete with anybody,” Stremming said. And that is why the Missouri casino industry is pressing for repeal of the loss limits on the November ballot this year.
Stremming added that Missouri casinos have another ace up their sleeves.
“We have a facility built in 1997 dollars,” he said of Ameristar. “They’re going to building with 2008 dollars, and they’ve got to invest a lot more money to have what I have.
“That allows us to focus our capital in other places,” he said, including more marketing goodies for players.
One contentious issue wrapped up in the speedway proposal was a pledge last month by Lesa France Kennedy, International Speedway Corp. president, to stage a second NASCAR cup race in Kansas — but only if the speedway won the casino.
The speedway group also promised an infield road course for sports car racing and an annual Camping World national RV rally.
At the time, All publicly scolded the speedway group for adding “sweeteners” to its deal that were not spelled out in its formal contract that the board was obligated to consider.
But Friday he failed to persuade any board member to join him in forcing the contract back into negotiations to get those sweeteners in writing.
“There has to be trust somewhere in this process,” said board member Garry Boston, who voted for the speedway plan with All, Dean Ferrell and Jackie Vietti.
After Friday’s vote, Kennedy, whose family also owns and controls NASCAR, said her goal was to have a second cup race scheduled in Kansas by the time the Hard Rock casino opens. This would appear to put the first expanded race schedule at Kansas Speedway into the 2011season.
Last month the review board awarded contracts to a group that included Harrah’s Entertainment Inc. to build and operate a casino in Sumner County, near Mulvane, Kan.
It also approved a contract with Penn National Gaming, the lone applicant in mostly rural Cherokee County, just west of Joplin, Mo.
But Pennsylvania-based Penn recently walked away from the deal, citing competition from the nearby tribal Downstream Casino that opened in July.
State officials are now scheduled to meet Tuesday to discuss reopening bidding in that southeast gambling zone.
Kansas’ gambling law enacted last year authorized one casino each in Wyandotte, Ford, and either Sedgwick or Sumner and Crawford or Cherokee counties. It also authorized slot machines at The Woodlands and two other parimutuel racetracks.
Although private companies will finance, build and operate the casinos, the state law upheld by the Kansas Supreme Court earlier this year declared that the state “owns” the business of gambling.
The state will get a minimum 22 percent cut of gross revenue, with an additional 5 percent off the top for local host governments and a state fund to aid compulsive gamblers.
Officials had hoped the casinos and tracks would eventually generate $200 million a year in new tax dollars.
Now it appears Kansas will have just three casinos, and fewer tax dollars.
State Sen. Chris Steineger, a Kansas City, Kan., Democrat who has been engaged in the city’s casino effort since he worked in the city manager’s office in the early 1990s, said Friday he was not worried about the state’s tax haul.
“Everyone talks about how much money the state is going to get or Wyandotte County is going to get,” said Steineger.
“But the (casino) payroll dwarfs that,” he said. “The payroll will be five times what the state and local governments will get combined.
“The real win is to capture the jobs for Wyandotte County workers.”
Gov. Kathleen Sebelius, who with All as her chief counsel at the time, began pushing for casino gambling during her first term, said she was pleased.
“Although the state of the national economy is very different than it was two years ago, we think gaming in Kansas is going to be a great success. These new attractions are important to their local communities as they will create jobs, boost tourism and generate revenue.”
Unified Government Mayor Joe Reardon hailed Friday’s decision as the end of a long road — and the beginning of another.
“Our citizens worked for 15 years to win the legislation which allows the casino,” he said. “The KCK casino will be the premier gaming destination in the Midwest,” along with nearby attractions such as the speedway, Village West and the Legends shopping and dining, and the Schlitterbahn Vacation Village water park.
“KCK and Wyandotte County will be the place for conventions, entertainment, family fun, shopping and dining,” said Reardon.
To reach Rick Alm, call 816-234-4785 or send e-mail to ralm
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Old 09-22-2008, 01:35 PM   #4
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Default RE: KS SPEEDWAY GETS CASINO/HARDROCK CAFE

thank you dude
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