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Kansas Entertainment has asked legislators to reconsider a proposal to change slot revenue taxes that could add competition to its $386 million casino project.
Kansas Lawmakers have introduced bills that would reduce the government’s share of slot revenue from 27% to 22%, revitalize dog and horse tracks and expand gambling.
While Kansas law allows slots machines at the tracks, owners have never installed them and their businesses remain closed because the state’s take of slot revenue is too high for the machines to be profitable.
Kansas Entertainment, a partnership between Penn National Gaming and Kansas Speedway say the contract they negotiated with the Kansas Lottery could be in jeopardy if the law is changed, because the deal was made with the understanding that tracks and casinos would both pay the state 27% of their revenue.
The partnership is particularly concerned because the Woodlands racetrack is only a few miles away from the proposed casino site.
As legislators look for ways to add additional revenue and economic development, Sen. Pete Brungardt said the notion that Kansas Entertainment would walk away shouldn’t deter legislators from debating the proposal, especially if the entire state can benefit from the change.
“Something will get built there,” he said. “That’s just too hot a property.”
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