Sat, Nov 21 2009
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Casino review board to decide Cherokee, Sumner county contracts Board member Jim Bergfalk asked Eadington if Penn National could be successful in Cherokee County. Eadington said Penn National is challenged because it would be paying taxes of 27 percent, whereas the Quapaw Tribe pays about 6 percent of its revenues to the state.
“Under the best circumstances, perhaps Penn would split the market with Downstream,” Eadington said. Dan Biles, an attorney for the Kansas Lottery, said that if the board awards the contract and the applicant decides not to go forward, the bidding procedure could be restarted. He said Penn National could be refunded its $25 million “privilege fee” if it withdraws before a background check is performed. Snyder, the Penn National official, said that if the board gives approval for Penn’s contracts in both locations, they would be successful. “I’m confident that if we don’t generate revenue for the project, I would be without a job,” he said. Snyder said during a break in Thursday’s meeting that if Penn National doesn’t receive approval for both contracts, no final decision would be made today about going forward in Cherokee County. Sumner County In Sumner County, Penn National has proposed a $340 million casino and hotel at Wellington. It would employ about 1,100 workers. Harrah’s Entertainment, in a joint venture with Sumner Gaming and Resorts, has proposed a $490 million casino and hotel at Mulvane with estimated employment of 1,187. That proposal faced the greatest number of questions from the review board because of the financial arrangement. The discussion revolved around $19 million in ancillary development to be paid by Sumner Gaming and Resorts. “I need to understand, without reservation, that there is $19 million available for the equity,” said board member Jack Brier. He asked if Harrah’s was willing to write the check for $19 million if Sumner Gaming was unable to do so. Charles Atwood, chairman of the board of directors for Harrah’s Entertainment, said he didn’t think Harrah’s would be asked to pay the $19 million, because Sumner Gaming would get the necessary financing. Also discussed was the Prairie Band Potawatomi Nation’s lawsuit against Harrah’s over a no-competition agreement. Also competing for the Sumner County project is Marvel Gaming. It is proposing a $368 million casino and hotel at Wellington. It would employ 1,765 workers. “We’re going to kick some rear end with it,” said Roger Wagner, president and chief operating officer for Marvel Gaming. He said the company would target high rollers. 
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