"This partner has extensive gaming experience in casinos and is well capitalized. The all-cash development will overcome the problems that caused the previous applicants to withdraw,' said spokeswoman Nancy Seitz.
The group that will submit the casino game bid is Equity Ventures of Topeka. They were part of the original investors with Harrah’s, but as Seitz said, they have offered to fully fund the project with cash.
One of the problems that Harrah's had was that financing was becoming more difficult to find with the economy floundering in the US bingo. Lenders had pulled back on giving out large amounts of money.
Although Equity is the first to announce they will seek the casino license, the state believes there will be more applicants. It usually takes the first one to come forward before others enter the bidding. There are more chances to build up in US.
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