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Kansas Casino Awarded to Cordish Company
TOPEKA, KANSAS --
The lumbering, stumbling debacle which is the Kansas Lottery Gaming Facility Review Board's decision on which partners to take on for the four Kansas casino projects passed another long-overdue mark this week, as the Cordish Company was awarded, in concert with the Kansas Speedway, the casino contract for Wyandotte County.
The new casino will be built adjacent to the NASCAR track and should be operating by 2011.
Just days before the verdict was rendered by the board, Pinnacle Entertainment withdrew from consideration, leaving Mohegan Sun and Golden Gaming as Cordish's competition. Pinnacle has also suspended its advance on its Atlantic City casino construction, amid concerns about credit and financing.
Penn National Gaming also withdrew from its award of the Cherokee County casino license, citing competition from a nearby tribal casino in Oklahoma as unforeseen in its economic planning. The Indian casino was planned and built while Kansas officials debated potential licensees.
In general, much of the luster of the dream of Kansas casinos has dulled over the year and more the bidding process has occupied. With the increased cost of borrowing and the decline of profitability at casinos nationwide, companies eager for new opportunities fifteen months ago now look twice.
Perhaps Kansas officials will learn a lesson: sometimes the tortoise loses.
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