The Unified Government of Wyandotte County/Kansas City received the first payment last week from a new casino being built at Kansas Speedway, several days before ground was broken for the new facility.
Officials with Penn National Gaming and the Kansas Speedway presented the county with a check for $335,781, which represents two months of the local government’s share of gambling revenue at the casino.
The early payment was required under the master development agreement between the city-county government and Kansas Entertainment, the partnership that will operate the casino. The revenue will go into the county’s general fund.
Kansas will receive 24% of the profits from the new facility, with the local government receiving 3%.
Kansas Entertainment also agreed to contribute another 1% of the profits, or an estimated $2.2 million a year, to the county with no restrictions on its use.
In addition, the casino operators have pledged annual contributions of $500,000 to school districts in the county, $500,000 to local community service and charity organizations, and $100,000 to the county’s parks and recreation department.
Phase one of the project includes a casino with space for 2,300 slot machines, 61 table games, and 25 poker tables. Later phases will include a hotel, an expansion of the casino, and a convention center.
