The document discusses two proposed casino projects in Kansas - Kansas Star and WinSpirit. Kansas Star promises to invest $260 million, build amenities sooner including a 100,000 square foot event center and $25 million equestrian complex, and generate more gaming revenue, taxes, and jobs for the state. It argues Kansas Star's management team has more experience building and operating successful casino projects on time and on budget and will spend more on advertising to drive higher revenue. The document positions Kansas Star as the best and most lucrative choice for Kansas.
Alhuda CIBE - Presentation on Boardwalk real estate investment trust
Peninsula dec 15 final
1.
2. Kansas Star – Why we are unique
Investment
Gaming Revenue
Benefit to the State and Sumner County
Jobs
Tourism
Management
Summary
3. Investment per the contract
Applicant obligations in the first five years
Kansas Star…………..…...…$260 million – Jan 2015
WinSpirit…………..………….$181 million – Jan 2016
(with tribal gaming – Jan 2018)
Kansas Star investment is regardless of tribal
gaming… WinSpirit is not
4. Gaming Revenue – Year 2016
Kansas Star WinSpirit
State Presentation 10/28 $202.3 $156.5
State Presentation 12/1 $202.3 $186.9
Cummings Report $213.4 $155.8
Wells Report $209.2 $120.5
Conservative projections
Better location
Different contractual obligations
Full build out sooner
5. Benefits To State and Sumner County
EKay Economic Consultants: Significantly more gaming tax and
total tax in the first seven years
Kansas Star WinSpirit
Total tax benefit $371,631,514 $248,797,966
Benefit to Sumner County $20,945,908 $15,634,227
Civic Economics: Significantly more impact to Kansas stakeholders
Kansas Star WinSpirit
Construction Impacts $246,207,174 $158,787,335
Operations Impacts $188,944,697 $136,237,230
6. Jobs
Total Compensation Per Employee - 2014
Kansas Star $37,980*
WinSpirit $24,231**
* Page 80 and 81 of the applicant’s lottery gaming facility management contract
** Page 186 and 188 of the applicant’s lottery gaming facility management contract
7. Tourism – Contractual Obligation
100,000 SF Event Center – Jan 2013
$25 million Equestrian Complex – Jan 2015
vs.
$6 million travel plaza – 2014*
$12 million racetrack – 2021**
* 2016 if tribal gaming occurs
** Not required if tribal gaming occurs
8. Tourism – Equestrian Complex
World class design team
Based on leading research – Crossroads Consulting
• 215,000 – 255,000 visitors from the equestrian market
Supported by all major equestrian associations
American Quarter Horse Association Kansas Horse Council
National Cutting Horse Association Kansas Paint Horse Association
National Reining Horse Association Kansas Quarter Horse Association
Professional Rodeo Cowboys Association American Saddlebred Association of Kansas
National Reined Cow Horse Association Woman’s Professional Rodeo Association
It will succeed
10. Tourism = Incremental gaming revenue?
Amenities need to be adjacent to
the casino to maximize gaming
revenue
11. Construction Management
Peninsula has built three successful projects
Each one - on time and on budget
Peninsula Team Position
Brent Stevens CEO
Michael Luzich President
Jonathan Swain COO
Natalie Schramm CFO
Dan Edgington Director of Construction
Mike Halastick Director of Development
12. Operational Management…it matters
As a team we operate four properties
Regulated jurisdictions
Brands make a difference
Submitted Budget Kansas Star WinSpirit
Advertising and
$25.2 $10.0
Promotions
Player Comps $8.5 $3.1
Total $33.7 $13.1
$20.6 million more spent per year to drive revenue
13. Summary
Two Very Different Projects
Construction And Management Experience
The Most Capital Invested - $260 million
The Soonest - Within 4 Years
Not Contingent - Park City
The Highest Revenue
The Most Tourism - A True Destination Resort
Supports Education - “Ad Astra”
The Best Choice For Kansas