Kansas entertainment 2nd presentation final for print 9.3.08
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Transcript of Kansas entertainment 2nd presentation final for print 9.3.08
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Kansas Lottery Gaming Facility Review Board
September 2‐3, 2008
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KANSAS SPEEDWAY
• Best financial performance
• Best driver of tourism and taxes
• Best management
• Best financial capabilities• Best partner to State of Kansas &
Wyandotte County
We deliver:
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KANSAS SPEEDWAY
Cummings Associates: “Key Question: Who Will Build
You the BEST Mousetrap?”
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KANSAS SPEEDWAY
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Source: Seminole Tribe of Florida 2
Source: State of Florida, Dept. of Business & Professional Regulation, Division of Pari‐Mutuel Wagering, August 20, 2008 NOTE: All data is for year‐to‐date 2008
Proven Market OutperformanceGaming Win (per unit) in Florida Casinos: Cordish Hard Rock Casinos vs. Competition
1 2 2 2
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KANSAS SPEEDWAY
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Proven National Brand…
The Appeal of Hard Rock is Broad
Even among 45 to 65 year‐
olds, those who are likely to
visit a Hard Rock Casino
significantly
exceeds all
other competitors.
Source: Zogby International Research
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KANSAS SPEEDWAY
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Enhanced by NASCAR and ISC…NASCAR Fans and Casino Visitation
Source: Zogby International Research 6
Significant cross‐
over between
NASCAR and
Hard Rock brand
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KANSAS SPEEDWAY
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The Most Compelling Facility…Wells Gaming Research
Attraction Factor Comparison
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KANSAS SPEEDWAY
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Biggest Generator of Tourism…Wells Gaming Research
“Mid”
Case Projected Annual Visitation
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KANSAS SPEEDWAY
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Highest Revenues…Average of Wells & Cummings Projections
Annual Casino Revenues
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KANSAS SPEEDWAY
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Best Return for the Public Sector
Does not
include impact of temporary facility
Meridian Business Advisors Analysis
Source: Meridian Business Advisors
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KANSAS SPEEDWAY
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Commitment to Temporary Facility
Temporary casino adds $93 million in incremental tax revenue in first two years vs. permanent only
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KANSAS SPEEDWAY
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Additional Commitments
‐
Second race has $111 million annual economic impact ($17 million a year in taxes alone)
‐
2 trackside billboards worth $1.8 million per year (before second race)
‐
Road course brings additional value12
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KANSAS SPEEDWAY
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Community Commitments
‐
Employee Shuttle System
‐
Local Hiring and WBE/MBE Commitments
‐
1% Additional to Unified Government of KCK &
Wyandotte County‐
Plus Additional $1.1mm per year to schools and other
local causes13
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KANSAS SPEEDWAY
Gaming Management Update
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• Addition of Project General Manager, Richard Kline
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KANSAS SPEEDWAY
Financial Capabilities
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• Owners’
financial commitment is fully funded by existing unrestricted cash
• We have substantial ongoing cash flow
• Debt commitment from commercial bank
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KANSAS SPEEDWAY
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See you at the Hard Rock!