Kansas Speedway, Penn National Gaming Team For Casino Proposal
Kansas Speedway and Penn National Gaming Thursday announced that they have "joined forces behind a single proposal for a Hollywood-themed casino adjacent to the racetrack," according to a front-page piece by Klepper & Bormann of the K.C. STAR. The $700M project, "if approved by state regulators, would overlook Turn 2 at the speedway and include a resort hotel in its second phase." Construction "would begin in 2011." Penn replaces Cordish Co., which had "initially partnered with the speedway to build a casino." Cordish Co. President of Gaming & Resorts Joseph Weinberg in a statement said Cordish will now focus on "other gaming activities more strategic to us." Klepper & Bormann note "one big change with the new proposal is the casino theme, which under Cordish would have been a Hard Rock-brand resort." Penn National Gaming Senior VP/Public Affairs Eric Schippers said the casino now will be a "Hollywood-themed destination facility." Wyandotte County (KS) officials "didn't voice objection to the change in partners." A state board "will review the new plan next week and could vote to approve the proposal in December." Kansas Racing & Gaming Commission Dir of Communications Mike Deines said that even though the new speedway proposal has "no competition, officials will hear from the public before voting" (K.C. STAR, 9/11). ISC CFO Dan Houser said that Cordish's exit and Penn's entrance "gives Kansas Lottery officials the best of both worlds -- the more experienced gaming operator and the more desirable site." In Daytona Beach, Jim Witters notes ISC "plans to petition NASCAR for a second Sprint Cup race by 2011 and build a road-racing course in the speedway infield for Grand-Am Road Racing events" (Daytona Beach NEWS-JOURNAL, 9/11).
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