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Developers like Kansas' lack of loss limit27 May 2008KANSAS -- As reported by the Lawrence Journal-World: "Some of the biggest names in gambling are courting Kansas officials for the opportunity to spend hundreds of millions of dollars to build a casino in Wyandotte County in direct competition against already established casinos in Kansas City, Mo. "And why do they think they can beat the riverboat casinos? "In part because Missouri casinos have a $500 loss limit. There is no loss limit under the Kansas law. "The 'advantage' of no loss limit in Kansas was mentioned several times by casino developers who made their pitches last week to the state Lottery Commission. "In outlining their proposals to the Kansas Lottery Commission, Blake Sartini, co-owner of Golden Heartland, said Kansas' lack of a loss limit was an 'obvious advantage.' "...William Weidner, chief operating officer of the Las Vegas Sands Corp., said his company's study of the Kansas City area showed 'remove that $500 loss cap and the market is much larger than it appears.' "...The Kansas Lottery Commission this week is scheduled to vote on contracts proposed by casino developers in Wyandotte County and two other areas of the state. In addition to the Sands and Golden Heartland, others in the race in Wyandotte County include Kansas Entertainment, Legends Sun and Pinnacle Entertainment. The commission's decisions will be forwarded to another board, which will select a winner later this year..." |