Posted on Tue, Oct. 20, 2009

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Casino revenue forecast grows

BY JEANNINE KORANDA

Eagle Topeka bureau

TOPEKA — A proposed Sumner County casino project could generate more money than the $121.1æmillion that developers initially estimated.

Three economic impact reports, which looked at details from gaming revenue to money and jobs generated during construction, showed the Chisholm Creek Casino Resort near Mulvane making between $144æmillion and $163æmillion in gaming revenue in 2013, the second full year it would be in operation.

The Kansas Lottery Gaming Facility Review Board will hear presentations on the reports during its meeting in Topeka on Monday. The reports are posted on the Kansas Racing and Gaming Commission’s Web site.

The proposed casino’s first phase would cost $150æmillion and include 1,300 slot machines, 30 gaming tables, a buffet, steak house, deli, retail shopping, surface parking and an emergency services facility.

Lakes Entertainment, which would build and manage the Chisholm Creek Casino Resort at the Mulvane exit of the Kansas Turnpike, was the only company to submit a proposal in the latest round of bidding.

In a report prepared for the board by consultant William R. Eadington, he estimated the Chisholm Creek Casino would initially attract about 2 million visitors in 2013 and the development would bring about $66æmillion annually to the state’s coffers.

Eadington also estimated the development would inject about $64æmillion into the economy through tourism spending.

A second report, prepared by Massachusetts-based Cummings Associates, was even more optimistic projecting the total gaming revenue from the Mulvane casino would be about $163 million in the first phase of development.

“Though Chisholm Creek’s Phase 1 facility will be modest, I believe that its situation as effectively ‘the only game in town’ will yield more revenue than they expect,” wrote consultant Will Cummings in the report.

A third report on the casino’s economic impact by consulting firm Civic Economics, predicts that the facility’s construction will help create almost 800 jobs, both directly and indirectly, and $92.1æmillion in economic impact.

The proposed casino is expected to open by Sept. 1, 2011, about 20 months after final approval.

While Chisholm Creek is the only proposal, the consultant’s reports are still important to the process, said Mike Deines, spokesman for the Kansas Racing and Gaming Commission.

“They’ve asked for all this information because they feel it is important for them to know all these things the consultants have been looking into,” he said.

Monday, the board will be able to ask questions on the report and they are likely to make a decision on the proposal during their Dec. 1-2 meeting in Topeka, Deines said.

If the board approves the proposal the Kansas Racing and Gaming Commission would conduct background checks and give final approval.

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