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].