Penn National Gaming, Cordish battle it out in Kansas

Jun 16, 2009 5:05 PM
Industry Insider by Ray Poirier |

A few days ago, it appeared that Penn National Gaming Inc. (PENN) and privately-held Cordish Co. would be battling for a Maryland racino license. Cordish appeared to be in the lead but the choice of a mall location for slot machines didn’t sit well with officials.

Penn National suggested it might apply for a slots license at Laurel racetrack, considered by lawmakers to be a natural site in order to save Maryland racing.

While that battle plays out, the two companies are favored by Kansas officials for a license in Wyandotte County. Only one license will be awarded.

Reportedly, Cordish’s partnership (with Kansas Speedway) has offered to pay $2.5 million for every year a hotel is not built next to the slots facility. Penn National is committed to providing 2 percent of its net revenue to a charitable organization.