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Casino Gambling in Kansas Could Be Big Money For Eventual Operators

 

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Kansas has been accepting applications for their four casino licenses. Some big casino players have entered into the ring for a shot at the licenses. The motivation is simple for these developers, the money potential is too good to turn down.

New laws have allowed for the addition of four new casinos in Kansas. Cherokee, Wyandotte, Ford, and Sumner counties are all future locations of what is expected to be a big casino business.

The state will own the casinos, which, in itself is somewhat different from other states that have recently passed laws allowing casino gambling. Developers will come in and build and run the casinos.

The opportunity for profit is great in the area. The law as it is written states that no casino would be allowed to be built until 2032. That means that there will be no competing with the new casinos for at least twenty four years.

The other advantage that developers will have in Kansas as opposed to other states is the percentage that the state is taking of the revenue. The rate will be twenty two percent, a low figure when it is considered that in some other states the percentage is above thirty.

Hurdles still need to be cleared before any casino gambling takes place. As is the case in most states when these laws are passed, there is legal opposition to the casinos. The ultimate decision will come down from the Kansas Supreme Court.

School Could be Torn Down Thanks To Casino Gambling Revenue

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Casino gambling revenue has been put to many uses by cities and states around the country. One of the weirdest uses of the revenue could occur in Waterloo if officials have their way.

Waterloo City Council members have decided by vote at their latest meeting that they would like to use $80,000 of the cities casino gambling revenue for the demolition of an old, abandoned school.

“I get complaints about it…it’s an eyesore, I’m very happy to see that it’s going to be torn down,” said City Councilman Harold Getty.

Tearing the school down will not be an easy task. The total cost is estimated to be at about $100,000. that cost will cover the removal of asbestos and also the cost of the demolition itself.

The building has been close to being purchased in the past, but the cost of the demolition has been too high and has caused deals to fall through.

The grant application is not the only one being submitted to the gaming council, a total of $720,000 has been asked for within nineteen grants.

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