Lottery corrects casino’s potential payouts
Posted on May 29th, 2008 by admin under Casino NewsKansas -Penn National Gaming would give the state 25 percent of all casino revenue up to $250 million, the Kansas Lottery said Wednesday.
Information the lottery released Tuesday incorrectly summarized the revenue distribution in Penn National’s contract.
State law requires casino managers to share at least 22 percent of casino revenue with the state.
Penn National, which proposes a casino for the Wellington exit on the Kansas Turnpike in Sumner County, would give the state 25 percent up to $250 million, 27 percent from $250 million to $300 million, and 32 percent above $300 million.
Marvel Gaming, another Wellington applicant, would share 22 percent with the state up to $250 million, 27 percent from $250 million to $300 million, and 32 percent above $300 million.
Harrah’s Entertainment-Sumner Gaming, an applicant for a casino near the Mulvane turnpike exit, would give the state 22 percent up to $300 million, 24 percent from $300 million to $350 million, 26 percent from $350 million to $400 million, 28 percent from $400 million to $500 million, and 30 percent above $500 million.
All three signed contracts Tuesday with the lottery. A review board will select a winner in August.



Recent Comments