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Kansas Tribal Casino Depends on Government

There has been talk recently of a tribal casino opening in Cherokee County, but the building and operation of a casino is fully dependent upon the commitment of the governor and Legislature to state-owned casinos, according to an attorney representing two tribes. Governor Kathleen Sebelius of Kansas explained that state-owned casinos prove to be a viable option for increasing state revenues. However, according to House Speaker Doug Mays, R-Topeka, gambling proposals, and support for state-owned casinos, have failed in the Legislature every year for over a decade.

The casino in Cherokee County would provide an amount equal to 3.75 percent of adjusted gross gambling revenues for seven years and 4.25 percent after the first seven years. A draft copy of the proposed compact states that an annual contribution to Kansas equal to 12 percent of the first $100 million in adjusted gross gambling revenues, and 22 percent of the adjusted gross gambling profits above $100 million, would be made by the casino.

When it comes to land-based casinos, and online casino sites, the law is very much in a gray area. Support for both sides – those who approve and support online casinos and land-based casinos – and those who oppose and disapprove of gambling spreading throughout states and over borders – puts the law in a headlock where it can neither move forward nor find closure in permanent disregard. Only the future will be able to reveal how gambling and online casino sites will be dealt with and regulated.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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