The Hollywood Casino at Kansas Speedway as well as their owners, Penn National Gaming are speaking out in opposition of The Woodlands being reopened. Incentives and reduced taxes are on the table to help the former dog and horse racing facility get back on its feet, but the two current gaming facilities are being critical of the proposed legislation that would allow the racing facility to be back in business. The Woodlands is located about 4 miles from Hollywood Casino.

Phil Ruffin (pictured on left) a native to Kansas and a casino owner in Las Vegas purchased the property of The Woodlands recently, a facility that had closed back in 2008. Operating slot machines are a key factor in the facility being restored and reopened, but current legislations requires a racino to pay 60% of the electronic gaming revenues to the state and local government, a number that Ruffin is not happy with.

The House of Representatives in Kansas are currently reviewing a proposed measure that would lower this rate. Penn National and Hollywood casino argue that the rate change would be unfair to the destination casino resorts who have a lower tax rate but $25 million fee to make plus $225 million as a minimal capital investment.

Representatives of the casino state that if changes are to be made with gaming law, the state is reneging on the contract with the destination casinos. This would then give the casinos the right to recoup the fee of $25 million.

 

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