Las Vegas Sands Says No To Casino In Wyandotte, Kansas

Wyandotte, Kansas was thought to be an up and coming area for a new casino. Many proposals were taken by the state and they narrowed down their list of potential developers to five.

That list has now dropped to four after the Las Vegas Sands Corp. pulled out in their efforts to land the casino license. They are claiming several reasons for removing their name from consideration.

The most pressing issue that caused Sands to pull out was a pending law change in neighboring Missouri. There is a referendum on the ballot for November that would do away with the $500 loss limit per gambler per two hour period.

The law change would affect many gamblers who would have traveled to Kansas to avoid the law. Now, if the law is changed, there will be no reason for anyone to travel outside of Missouri to play in a casino.

"This change, together with the increased borrowing costs in today's financial marketplace, significantly decreases the expected returns from our proposed development in Kansas and limits our ability to generate appropriate risk-adjusted returns on the proposed investment vis-a-vis-our expected returns on our other global investment opportunities," said Las Vegas Sands President, William Weidner.

Now that the Sands has pulled out of the race, there are only four groups left still wanting the opportunity to run the casino. Legends Sun, Pinnacle Kansas, Golden Heartland, and Kansas Entertainment will continue their pursuit of the license.

July 23, 2008
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com
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