Harrah’s made their proposal presentation for endorsement to the Sumner County Commissioners today, and answered some tough questions about their past with the South Central Gaming Zone.
Trevor Busche, Vice President of Corporate Development for Harrah’s Entertainment presented the proposal to the more than 200 people in attendance at the Raymond Frye Complex. Harrah’s was the last of three developers to present to the commission.
Harrah’s is known for owning 55 gaming properties facilities around the world, including Caesar’s Paris, Rio, Grand Biloxi, and Tunica Roadhouse.
The proposed casino at two locations on K-53 Highway would include a $250 million development plan across the casino, hotel, food and beverage venues, meeting and entertainment amenities.
“Our goal is clear, to build a first-class casino resort that offers a sense of excitement and escape and then combines that with fitting in with the local landscape,” said Busche.
The casino site would include 100,000 square feet in gaming, hotel, convention and food and beverage areas, covered parking, surface parking, and local emergency services infrastructure. Once inside the casino, the gaming floor would offer 1,850 slot machines, 50 table games and a signature attraction, the World Series of Poker, poker room.
Two first-class restaurants — a top-shelf steakhouse with high-end dining and a premier gourmet restaurant — would be offered in the facility as well as 5,000 square foot food court, three signature bars including a large bar in the center of the casino where patrons will be entertained, a bar with marque stage for entertaining and a 5,000 square foot sports bar.
Two VIP lounges will be offered as well as accommodations 100-room hotel with 20 suites with separate entry way. Meeting and conference facilities will take up 18,000 square feet and will be state-of-the-art and will be used as a magnet for local and regional businesses and professionals as well as an inside entertainment venue.
Potential expansions to the facility could include an RV park, water park, and tennis areas.
Central Division President for Harrah’s John Payne said the power of Harrah’s was in the brand name.
Because Harrah’s has a Total rewards customer appreciation program, with 2.5 million customers within a 3 hour drive of the proposed location, it will help the casino build up revenues faster. Where other casinos will have to build their customer base, Harrah’s already has one built in, Payne said.
“When we open our doors, we aren’t going to have to build a database like others, we’re not going to start with zero customers. We have 2.5 million customers in our database that we will communicate that there is another casino that they can use and when they show up, they are not a new customer. When they show up we will know them and we will take care of them and this is very powerful,” said Payne.
Another brand name, The World Series of Poker, would attract players from around the country to win prizes as big as $8 million he said.
Iconic names involved with Harrah’s including Paula Deen, Bobby Flay and Toby Keith could also be incorporated on site.
“We need to fill these casinos...you’re going to need, we believe, an operator that can compete,” said Payne.
The biggest fear from commissioners was made evident as their first question involved financing. Harrah’s was awarded the state contract in 2008 but backed out because of financial issues.
“Harrah’s is a $20 billion company with $3 billion in liquidity on it’s balance sheet...Harrah’s presented application, we are prepared to finance the proposed casino with money from our balance sheet and we have the financial where-with-all to use that money from our balance sheet,” said Busche.
One of the biggest factors that effected the withdrawal of the contract in 2008 was that Harrah’s Entertainment was only one part of a “consortium” that was awarded the license. Busche said different agendas pulled the group apart, causing the withdrawal.
The economic environment in 2008 didn’t help either, he said.
Busche says there is nothing holding Harrah’s back on this their second time trying for the South Central Zone.
“We’re ready to stand behind the proposal as indicated,” said Busche.
Looking back, the Harrah’s official says the proposal in 2008 wouldn’t have worked.
“Quite frankly the proposal we made today is calibrated for today’s economic environment. I would argue that the proposal in 2008, with the benefit of hindsight in what was going on in the economy at the time, [the proposal] didn’t necessarily match the economics at the time,” said Busche after the presentation.
Busche isn’t worried that the previous withdrawal will be a downfall for the proposal’s chance in Topeka.
“We’ve spent a lot of time in the community in the last six to eight weeks and to be quite honest 99 percent of the feedback has been quite the opposite. People entirely understand the dynamics that were at play back in 2008 so, no I don’t feel we are at any disadvantage...” said Busche. “If there’s one percent, I think what we bring to the table in terms of other operating skills more than compensates for anything,”
He says Harrah’s wouldn’t be in Sumner County again if they didn’t mean business.
“I’m confident we can provide the same, if not more guarantees than any of the other participants in the process can provide. Whatever the Lottery Commission, the State requires in terms of certainty of construction, we’ll be more than happy to provide with whatever else everyone is required to provide. To some extent you could argue that we are back because we really believe in this market and we really believe in this opportunity and we wouldn’t be back if we didn’t intend to follow through so to some extent coming back reflects our enthusiasm and commitment to this market,” said Busche.
For the latest casino news, check back with www.wellingtondailynews.com.
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Harrah’s made their proposal presentation for endorsement to the Sumner County Commissioners today, and answered some tough questions about their past with the South Central Gaming Zone.
Trevor Busche, Vice President of Corporate Development for Harrah’s Entertainment presented the proposal to the more than 200 people in attendance at the Raymond Frye Complex. Harrah’s was the last of three developers to present to the commission.
Harrah’s is known for owning 55 gaming properties facilities around the world, including Caesar’s Paris, Rio, Grand Biloxi, and Tunica Roadhouse.
The proposed casino at two locations on K-53 Highway would include a $250 million development plan across the casino, hotel, food and beverage venues, meeting and entertainment amenities.
“Our goal is clear, to build a first-class casino resort that offers a sense of excitement and escape and then combines that with fitting in with the local landscape,” said Busche.
The casino site would include 100,000 square feet in gaming, hotel, convention and food and beverage areas, covered parking, surface parking, and local emergency services infrastructure. Once inside the casino, the gaming floor would offer 1,850 slot machines, 50 table games and a signature attraction, the World Series of Poker, poker room.
Two first-class restaurants — a top-shelf steakhouse with high-end dining and a premier gourmet restaurant — would be offered in the facility as well as 5,000 square foot food court, three signature bars including a large bar in the center of the casino where patrons will be entertained, a bar with marque stage for entertaining and a 5,000 square foot sports bar.
Two VIP lounges will be offered as well as accommodations 100-room hotel with 20 suites with separate entry way. Meeting and conference facilities will take up 18,000 square feet and will be state-of-the-art and will be used as a magnet for local and regional businesses and professionals as well as an inside entertainment venue.
Potential expansions to the facility could include an RV park, water park, and tennis areas.
Central Division President for Harrah’s John Payne said the power of Harrah’s was in the brand name.
Because Harrah’s has a Total rewards customer appreciation program, with 2.5 million customers within a 3 hour drive of the proposed location, it will help the casino build up revenues faster. Where other casinos will have to build their customer base, Harrah’s already has one built in, Payne said.
“When we open our doors, we aren’t going to have to build a database like others, we’re not going to start with zero customers. We have 2.5 million customers in our database that we will communicate that there is another casino that they can use and when they show up, they are not a new customer. When they show up we will know them and we will take care of them and this is very powerful,” said Payne.
Another brand name, The World Series of Poker, would attract players from around the country to win prizes as big as $8 million he said.
Iconic names involved with Harrah’s including Paula Deen, Bobby Flay and Toby Keith could also be incorporated on site.
“We need to fill these casinos...you’re going to need, we believe, an operator that can compete,” said Payne.
The biggest fear from commissioners was made evident as their first question involved financing. Harrah’s was awarded the state contract in 2008 but backed out because of financial issues.
“Harrah’s is a $20 billion company with $3 billion in liquidity on it’s balance sheet...Harrah’s presented application, we are prepared to finance the proposed casino with money from our balance sheet and we have the financial where-with-all to use that money from our balance sheet,” said Busche.
One of the biggest factors that effected the withdrawal of the contract in 2008 was that Harrah’s Entertainment was only one part of a “consortium” that was awarded the license. Busche said different agendas pulled the group apart, causing the withdrawal.
The economic environment in 2008 didn’t help either, he said.
Busche says there is nothing holding Harrah’s back on this their second time trying for the South Central Zone.
“We’re ready to stand behind the proposal as indicated,” said Busche.
Looking back, the Harrah’s official says the proposal in 2008 wouldn’t have worked.
“Quite frankly the proposal we made today is calibrated for today’s economic environment. I would argue that the proposal in 2008, with the benefit of hindsight in what was going on in the economy at the time, [the proposal] didn’t necessarily match the economics at the time,” said Busche after the presentation.
Busche isn’t worried that the previous withdrawal will be a downfall for the proposal’s chance in Topeka.
“We’ve spent a lot of time in the community in the last six to eight weeks and to be quite honest 99 percent of the feedback has been quite the opposite. People entirely understand the dynamics that were at play back in 2008 so, no I don’t feel we are at any disadvantage...” said Busche. “If there’s one percent, I think what we bring to the table in terms of other operating skills more than compensates for anything,”
He says Harrah’s wouldn’t be in Sumner County again if they didn’t mean business.
“I’m confident we can provide the same, if not more guarantees than any of the other participants in the process can provide. Whatever the Lottery Commission, the State requires in terms of certainty of construction, we’ll be more than happy to provide with whatever else everyone is required to provide. To some extent you could argue that we are back because we really believe in this market and we really believe in this opportunity and we wouldn’t be back if we didn’t intend to follow through so to some extent coming back reflects our enthusiasm and commitment to this market,” said Busche.
For the latest casino news, check back with www.wellingtondailynews.com.
