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Wyandotte County, Kansas City to Get Civic Funding from Casino

Posted on April 28th, 2010

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Casino developer Kansas Entertainment LLC pledged at least 1% of gambling profits to the Unified Government of Wyandotte County/Kansas City, from Hollywood Casino – a casino to be constructed at Kansas Speedway.

The Unified Government will be using this fund, which would roughly amount to more than two million dollars, on civic projects. Kansas Entertainment recently awarded three hundred thirty-five and seven hundred eighty-two thousand dollars to the Unified Government as early payment for their 1% share, covering the 1st two months of the annual gambling profit share.

On top of this, Kansas Entertainment also pledged to donate half a million dollars to school zones within the county, another half million dollars to the community, one hundred thousand dollars for parks, twenty-five thousand dollars to the tourism center in the county plus ten thousand dollars to the county’s chamber of commerce.

With all these funding for the county’s projects and community; the local community is more than happy to welcome Hollywood Casino into their fold.

KANSAS ENTERTAINMENT’S COMMITMENT TO SERVICE

From the beginning of the casino’s planning, Kansas Entertainment has already voiced out their commitment to help and support the county’s economic recovery and development on a sustained and continuing basis.

Penn National Gaming Inc. COO Timothy Wilmott stated that the early payment for the expected revenue share of Wyandotte County for its civic projects is a clear sign of Kansas Entertainment’s commitment to the county’s financial growth.

Incidentally, Penn National Gaming Inc. and International Speedway Corporation are the groups behind Kansas Entertainment.

In addition to the Unified Government’s 1% share, Kansas Entertainment will also be paying 24% in taxes for the state and another 3% for local taxes per annum; which makes the total amount the county will be receiving from Hollywood Casino, roughly more than three million dollars per annum.

CONSTRUCTION AND DEVELOPMENT

Groundbreaking ceremonies for Hollywood Casino will take place this Friday and the developers are looking at the 1st six months of 2012 to open part of the casino. Development of the casino will cost an approximate amount of almost four million dollars just for the initial stage of development.

Further development will be undertaken in the coming years on a per-need basis, depending on customers’ needs.

Covering the initial stage plus later developments, Kansas Entertainment expects to shell out about seven hundred millions dollars to complete the entire proposed plan for the casino.

The initial stages of the plan consist of one hundred thousand square feet of interior floor where more than two thousand slot games will be available, about sixty-one tables for various games and an additional twenty-five tables dedicated to poker – long-standing casino favorite all over the world.

There will also be other facilities for entertainment plus a restaurant.

Kansas Speedway is a popular racetrack used for car racing events such as the IZOD Indy Car Series and the NASDAQ Sprint Cup; making it an excellent venue for a casino. Management of Kansas Speedway has already donated about one hundred acres of land for the development of the casino and with construction soon to be in full swing; everyone is expecting the casino to rise to the challenge of raking in big bucks for the county and the developers.

With the casino’s opening at the Kansas Speedway, local tourism is expected to rise which could also bring in more revenues for the county. Tourists coming in to witness the races can now also come to visit the casino all throughout the year, particularly during the holidays and summer vacation.

Wyandotte County/Kansas City is looking forward to greatly benefiting from this huge project, increasing job opportunities for locals and supporting the county’s tourism industry.