The "Build it and they will come" philosophy, designed to boost tourism revenues in Kansas, is manifest in the ever-developing consumer mecca of Village West where Hollywood Casino at the Kansas Speedway in Kansas City, Kan. broke ground this week. .
The $386 million casino, called Turn 2 for its location along the second turn of the NASCAR Speedway, consists of a gaming floor of 100,000 square feet of space - enough room to house 2,300 slot machines, 61 table games and 25 poker. The development, expected to be open in 2012, also includes restaurants, clubs and nightlife attractions in an additional 28,000 square feet of space. Casino developers say Hollywood Casino will bring in an estimated 440,000 tourists annually and will create more than 1,000 full time jobs.
While Village West is growing by leaps and bounds, Kansas state officials see wider implications than an isolated success. Even though Kansas has a history of coming in dead last as a desirable vacation destination among the 50 states, according to polls that measure such things, the development elevates the state to a "first-class, year-round tourist destination," according to a release.
Tourism dollars, long a staple of states with beach and mountain real estate, are attractive because the tourism industry brings new money into the economy. Basically, this means outsiders bring money to the local economy and leave it there. The lift here is that the local economy then has more operating capital. For the state, the regulatory opportunity leads to the phllosophy that a rising tide lifts all boats.
Legends officals promote the development as a value destination, identifying the area as the region's first looks at the" new vision of destination outlet centers." Retail is supplemented with dining and entertainment. All of this is offered with a thematic walk-through-history setting that offers "unique experiences."
Kansas Speedway and Hollywood Casino Kansas City Star's Kevin Collison's article makes the point that Kansas Lottery owns the casino, but says management of the casino is contracted out.. The regulating agency is the state Racing and Gaming Commission
The hard numbers break down like this:
- Hollywood Casino's expected annual gross is $200 million. Kansas' take is 22 percent of that. Considering Topeka lawmakers are hung up on revenue shortfalls, the deal is a silver lining.
- Wyndotte County, which shows considerable savvy in revenue development, will get three percent of the $200 million.
- Problem gambling funds cash in with two percent of the gross.
- Hollywood Casino partners split the remaining 73 percent.
On Village West's retail and "unique experience" entertainment, Legends is kicking up marketing over the first May weekend When guests make $150 in purchases at any Legends store, they get a one-day pass for the Schlitterbahn Vacation Village Waterpark for use anytime during the 2010 season. The deal means shoppers this weekend will surely be back later in the summer.
Schlitterbahn features an uphill water coaster, two tubing rivers, three slides, a white water tube chute, 13 mini slides for kids, three beach areas and a giant hot tub with swim-up bar.
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