Wichita native and billionaire Phil Ruffin, owner of Treasure Island in Las Vegas, recently toured his latest purchase, the shuttered Woodlands racetrack in Wyandotte County, Kansas. Ruffin estimated renovations would cost at least million, including interior gutting, new ceiling and new roof. But Ruffin said he won’t move forward until legislation sponsored by state Senator Steve Fitzgerald passes the House, where it stalled after passing the Senate on a 24-12 vote.
Fitzgerald’s bill would help the state’s racing industry by changing the tax structure. Under current law, “destination casino resorts” like the Hollywood Casino at Kansas Speedway pay 27 percent of revenue in taxes to the state and local government. But if the Woodlands added slot machines, it would pay 60 percent of the net gaming income, divided among the local city or county, racing purses and other state funds. The racetrack would keep 25 percent, with 15 percent to be used for gaming expenses. Under Fitzgerald’s bill, the racino would keep 64.5 percent of income for the first two years and 60.5 percent every year after that.
Kansas’ dog racing industry has suffered due to competition from Kansas City, Missouri casinos and declining interest. In 2007 the Kansas Expanded Lottery Act allowed struggling dog tracks to become racinos. However, the tax rate on slots caused several tracks to close, including the Woodlands, which opened in 1989 and shut down in August 2008.
Besides the Woodlands, Ruffin Camptown Greyhound Park in Frontenac and Wichita Greyhound Park in Park City, both of which are closed. He stated if the legislature passes Fitzgerald’s bill, he can provide jobs for 2,000 people at his three racetracks.
But, Ruffin said, if the measure fails he still owns 400 prime acres in Wyandotte County. “We buy ground all the time. It’s a business we know,” he said.
