Penn National Gaming Strikes Casino Deal with Kansas

By Paul Black on May 5, 2008

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TOPEKA, KANSAS -- After months of bickering, infighting, and legal manuvering, the Kansas Lottery Commission has finally begun to determine which operators will receive casino licenses in the state. While hotly pursued opportunities in Wyandotte County and others draw multiple applicants, the contract for Cherokee County has been awarded to the only developer applying, Penn National Gaming.

Penn will build and operate a hotel-casino complex in Cherokee, but ownership will remain with the Lottery. The deal will still need approval by a state review board.

Kansas passed a law requiring casino developers to commit at least $225 million to proposed projects. Penn has asked for and received permission to phase in the investment over a 12-year period.

The state's share of revenue is still to be negotiated, although it is expected to fall between 22% and 28%.

The Lottery Commission voted unanimously in favor of the deal.

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