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Posted: 11:59 AM May 5, 2008
Lottery Commission Approves Contract For Casino
The Lottery Commission has approved a contract with a developer for a casino in southeast Kansas. Email Address: news@kake.com |
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The Lottery Commission has approved a contract with a developer for a casino in southeast Kansas.
Penn National Gaming Inc. was the only applicant to build and operate a hotel-and-casino complex in Cherokee County. The Lottery would own the new gambling.
The commission voted unanimously to approve an agreement between the Wyomissing, Pa., company and Lottery staff.
The deal will now go to a review board for its approval. A law enacted last year requires a potential developer to invest $225 million. Penn National wants to phase in its investment.
The company and the Lottery's staff agreed the investment could be phased in over 12 years. The state will receive between 22 percent and 28 percent of the revenues.
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