ISC To Submit Bid For Casino Complex Next To Kansas Speedway
ISC is "expected to make a second run next week at a new revenue source: casino gambling," according to Beth Kassab of the ORLANDO SENTINEL. ISC Dir of Corporate Investment Communications Charles Talbert said that ISC "would submit a bid to the state of Kansas by April 1 to develop a casino-hotel and a dining-retail-entertainment complex next to" Kansas Speedway. Talbert said that the bid is "part of a larger strategy to 'unlock the value on the balance of land we have.'" ISC in December withdrew its first bid to build a Hard Rock Hotel & Casino. Kansas "reopened the bidding process earlier this year for the casino-management contract, and ISC plans to submit a new proposal, this time with a phased approach for the other components." The original proposal "called for a single-phase, $705[M] complex, with 3,000 slot machines and 140 gaming tables in the casino; 275,000 square feet of entertainment space, including a live-music venue; and a convention center." Kassab notes gambling could give ISC's bottom line a "much-needed boost, after a series of expensive missteps in recent years." Meanwhile, ISC's building of a $250M entertainment complex known as Daytona Live "has slowed considerably." But Talbert said that ISC "has not put the project on hold" (ORLANDO SENTINEL, 3/25).
COMMUNITY WATCH: In Virginia, Dustin Long reports ISC "launched a three-day public relations trip Tuesday to underscore the tracks' value to their communities based on reports commissioned" by the company. ISC began at Martinsville Speedway, a track with an "estimated economic impact in Virginia of $170[M]." The report indicated that the track "provides 2,824 jobs either directly or indirectly." Virginia State Delegate Ward Armstrong "suggested that the Virginia Department of Tourism could play a greater role in elevating the track's status." Armstrong: "I do think it's appropriate to promote racing in Virginia. Clearly, that's the best way to assure we have two Sprint Cup races here each year" (Norfolk VIRGINIAN-PILOT, 3/25).
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