Hollywood Casino at Kansas Speedway Misses 10th Deadline for Hotel

Trending 2 months ago

Posted on: February 5, 2024, 08:37h. 

Last updated on: February 5, 2024, 02:28h.

Avatar photo

When Penn Entertainment was granted support to create what became its Hollywood Casino astatine NASCAR’s Kansas Speedway, it besides pledged to build an adjacent edifice wrong 2 years. But 10 years and counting from that deadline, nary specified edifice has materialized.

Hollywood Casino astatine Kansas Speedway, PENN Entertainment, PENN National, NASCAR, Kansas Entertainment, hotelThe Hollywood Casino astatine Kansas Speedway, above, opened connected Feb. 12, 2012, overlooking nan track’s move two. But there’s still nary motion of a promised edifice tower. (Image: Visit Kansas)

Instead, nan developer has preferred to salary $13 cardinal successful fines, nan punishment for missing 10 deadlines successful a row.

Kansas Entertainment LLC promised a edifice building pinch astatine slightest 200 rooms nether its 2009 statement pinch nan Unified Government of Wyandotte County and Kansas City (WyCo & KCK). Kansas Entertainment LLC is simply a associated task betwixt Penn and International Speedway Corp., now portion of NASCAR.

In return, nan task received STAR bonds from WyCo & KCK. This is simply a typical financing instrumentality that Kansas municipalities tin rumor for nan improvement of awesome commercial, entertainment, and tourism projects.

Delays and Fines

Under nan agreement, building connected nan edifice would statesman wrong nan 2nd day of nan casino’s opening (February 2014). If this did not occur, Kansas Entertainment LLC would salary 1% of nan casino’s yearly nett gaming revenues to WyCo & KCK until nan activity began, per nan agreement.

Kansas Entertainment LLC initially said it hoped to break crushed connected nan edifice successful October 2014, but that was later revised to 2015, pending nan results of an economical study.

Later that year, nan developer announced it would postpone nan edifice project, citing “soft economical conditions successful nan region, particularly successful nan edifice market.”

Penn Plans Continue 

Penn has said it monitors area occupancy rates and caller edifice developments successful nan region and insists it “continues to research various opportunities to build a edifice adjacent to Hollywood Casino.”

“As portion of that evaluation, we see nan existing infrastructure and occupancy rates of neighboring and adjacent hotels, arsenic good arsenic nan trading partnerships we person developed pinch these businesses complete nan years,” Jeff Morris, Penn’s vice president for nationalist affairs and authorities relations, told The Kansas City Business Journal past year.

We are proud of nan relationships we person built successful Wyandotte County since we opened successful 2012, and look guardant to building upon our occurrence present for years to come,” he added.

For now, though, Kansas Entertainment LLC is contented to support paying nan fines, thing Wyandotte County Administrator David Johnston says they whitethorn beryllium doing for immoderate time.

“I deliberation a batch of group had this misconception it was a 10-year window. No, this goes on, and it will extremity only if they build,” Johnson told nan TV position Fox 4 this week.

More
Source Casino news
Casino news