Sands Corp Pulls Out of Kansas Casino
by Hillary LaClair, Senior Editor
Wyandotte Kansas is due for a new casino in the upcoming years. While gambling legislation has not been in favor of online casinos recently, new laws may be put into place that give state run land casinos leniency.
There have been several proposals by state officials to open a new casino in Wyandotte Kansas. There are four separate companies seeking to license and operate the casino, and the city has been awaiting the financial benefits.
However, Las Vegas Sands Corp. pulled out of the race, lowering the amount of possible developers to four. There were many reasons given by Sands Corp. as to why they will no longer consider licensing Wyandotte’s casino, but many feel that this is mostly due to the pending law change in Missouri. This coming November’s referendum ballot in the neighboring state would eradicate the $500 loss limit per person in a casino during a two hour period.
Because Sands Corp. was banking on a consumer base generated out of Missouri, the law change would put a damper on the business that Wyandotte is looking to bring in. The change would have a great impact on gamblers who would travel to Kansas to bypass the law limiting their gaming. If the law changes, Missouri gamblers would have no motivation to visit the Kansas casino.
"This change, together with the increased borrowing costs in today’s financial marketplace, significantly decreases the expected returns from our proposed development in Kansas and limit our ability to generate appropriate risk-adjusted returns on the proposed investment vis a vis our expected returns on our other global investment opportunities," said Sands Corporation’s President, William Weidner.
These are issues that many online casinos gamblers are unaware of. Internet gamers are often provided with a hassle-free platform and travel never presents a problem. Legislation like the $500 limit promotes further online casino gambling in the future.
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