Kansas Finally Receives Proposal For Sumner County Casino

The state of Kansas is holding strong to their believe that they are conducting their casino licensee search in the proper manner. This comes even after three of the first four developers chosen pulled out of their agreements.

That development has caused the state to start over. Nearly four months after Harrah's Entertainment pulled out of their deal, there is another group that has announced they will submit a proposal to run a casino in Sumner County, Kansas.

"This partner has extensive gaming experience and is well capitalized. The all-cash development will overcome the problems that caused the previous applicants to withdraw,' said spokeswoman Nancy Seitz.

The group that will submit the bid is Equity Ventures of Topeka. They were part of the original investors with Harrah,s, but as Seitz said, they have offered to fully fund the project with cash.

One of the problems that Harrah's had was that financing was becoming more difficult to find with the economy floundering in the US. Lenders had pulled back on giving out large amounts of money.

Although Equity is the first to announce they will seek the casino license, the state believes there will be more applicants. It usually takes the first one to come forward before others enter the bidding.

"We have had a number of people calling and asking questions. We always expected we would get applications, but to my knowledge we have had no names,' said Ed Van Petten, the Executive Director of the Kansas Lottery.

March 5, 2009
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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