(By Greg Engle)
Posted: Saturday,December 6th, 2008
(By Reid Spencer, Sporting News NASCAR Wire Service NEW YORK, NY.)–With final approval only hours away, Kansas Entertainment LLC, a partnership between International Speedway Corporation and the Cordish Co., withdrew its bid to build and manage a state-owned Hard Rock Hotel and Casino and entertainment complex estimated at $705 million, according to The Kansas City Star.
The withdrawal of the current bid, announced Friday, allows the partnership to recover a $25-million state application fee, which would have become non-refundable upon final approval of the project. The partnership will resubmit a bid based on a phased development of the casino and subsequent non-gaming hotel and entertainment facilities.
As with the original proposal, the new bid will seek a second Cup date for the 1.5-mile speedway, which currently hosts one event.
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