Hard Rock Hotel & Casino Proposal to Generate Over
$350 million in Annual Economic Benefit to Kansas
Potential for Second NASCAR Sprint Cup Series Date at Kansas Speedway
KANSAS CITY, Kan. (Aug. 13, 2008) – Kansas Speedway and The Cordish Company’s (Kansas Entertainment LLC) proposed 1.5 million square-foot, Hard Rock Hotel & Casino will include a 300-room luxury hotel; a state-of-the-art casino with 3,000 slot machines and 140 gaming tables; 275,000 square-feet of destination retail, dining and entertainment including a live music venue; first-class resort amenities; and extensive meeting and convention facilities. With a development cost over $700 million, with no public incentives associated with this project, the Hard Rock Hotel & Casino will provide the community with an economic benefit of $4.86 billion over 20 years.
As part of their proposal, Kansas Speedway announced International Speedway Corporation (NASDAQ Global Select Market: ISCA; OTC Bulletin Board: ISCB) (“ISC”) will petition NASCAR for a second NASCAR Sprint Cup Series date for the track if Kansas Speedway and The Cordish Company are awarded the casino management contract for Wyandotte County (Kan.).
In addition, the proposal not only provides significant expansion capabilities but also includes a temporary casino to open within eight months. The temporary casino will operate during construction and will include 2,000 slot machines and 75 gaming tables. It is estimated that the temporary casino will generate in excess of $200 million in annual revenue.
“Kansas Speedway and The Cordish Company have already shown a tremendous commitment to this region, having invested hundreds of millions of dollars in two of the most successful regional destinations in the country – the Kansas Speedway and the Kansas City Power & Light District,” stated David Cordish, chairman of The Cordish Company.
“We could not have realized Kansas Speedway without the unwavering support of state and local leaders. Our combined vision helped create a world-class motorsports facility that continues to provide a significant economic benefit to the community.
Kansas Speedway not only attracts hundreds of thousands of fans throughout the year but also serves as a catalyst for new development,” stated ISC President Lesa France Kennedy. “Many positive changes to the community have occurred since our arrival and we believe our Hard Rock Hotel & Casino proposal will continue the momentum we started and benefit the taxpayers of Kansas.”
“We’re very excited about the prospect of a second Sprint Cup Series race at Kansas Speedway,” said Kansas Speedway President Jeff Boerger. “A second Sprint Cup race and a Hard Rock Hotel & Casino would be a tremendous benefit to not only Wyandotte County, but to the state of Kansas. An additional race weekend and our Hard Rock property would increase tourism in the area and have a significant economic impact on both Wyandotte County and the state.
“Kansas Speedway currently has an economic impact of $243 million to the area. The addition of a second Sprint Cup Series race would add another $111 million to the community,” said Boerger, who was the vice president of the Kansas City Area Development Council prior to joining Kansas Speedway, citing research conducted by the Washington Economics Group, Inc.
The Hard Rock Hotel & Casino, which would be located in Kansas Speedway’s Turn 2 with strong visibility and access to both Interstate 70 and Interstate 435, will bring a distinctive and energetic destination entertainment and gaming experience to Wyandotte County and establish the area as one of the major sports and leisure destinations in the country.
Show your support for the Hard Rock Hotel & Casino and the potential second NASCAR Sprint Cup Series race date at Kansas Speedway! Attend the public hearing in your NASCAR gear this Friday, August 15, at 8:30 a.m., at Kansas City Kansas Community College's Performance Arts Center. For more information, or if you cannot make the public hearing and want to show support, go to kansasspeedway.com/hardrock.
Kansas Speedway tickets are on sale now for 2008-09 packages and can be purchased by calling 866.460.RACE or logging onto www.kansasspeedway.com.
O’Reilly Auto Parts Qualifying Day tickets for Sept. 26 and Sprint Fan Walk tickets are also available online or by calling 866.460.RACE. Parking is always free at Kansas Speedway.