PENN offers $7.5mil to settle Cherokee County suit

Jan 21, 2013 6:03 PM

Penn National Gaming Inc. (PENN) has offered to settle a breach of contract dispute with the Cherokee County of Kansas. The company offered $7.25 million to settle a $53 million breach-of-contract lawsuit filed by the county in 2008 after the company pulled out of plans to build a casino in southeast Kansas.

The settlement offer includes $4.75 million in cash and 200 acres of land where the casino was to be built, according to the Joplin Globe newspaper.

After deductions, the county would receive about $4.7 million if it accepts the deal, officials said.

Ray Poirier is the longtime executive editor at GamingToday.

Contact Ray at [email protected].

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