Kansas starts over to find taker for casino license

Dec 16, 2008 5:03 PM
by Ray Poirier | A year ago, America’s major gaming companies were tripping all over themselves in hopes of capturing one of four casino licenses being offered by the State of Kansas.

Legislation had approved the casinos by identifying their locations and by requiring that the licenses be owned by the state while the successful bidders would be required to not only pay a license fee but also put up the money to build the properties.

But two things happened in the meantime: the state delayed the awarding of the contracts and a slumping economy, accompanied by a severe credit crunch, made it almost impossible for licensees to come up with the necessary funding.

One by one, the major gamers backed out of the bidding until just one casino project remained viable. That was the smallest of all, an $88 million project in Dodge City.

So Kansas is going back to the drawing board hoping to have more luck than the last time.