Quote:
Originally Posted by Mike B.  I think the $50 million is up front money that Boot Hill Gaming/Butler must hand over to the state if they recieve the Lic. The $50 million is not the cost to build the casino.
Quietly,
Is that correct? |
No Mike, that's not correct. Butler/BHG must pay a licensing fee of $5.5 Million if they are selected. That fee is more like a franchise fee and it's for a period of 15 years, then has to be renewed.
The developer must spend at least $50Million for the Ford County facility and it has to include certain components that make it a destination facility, such as hotel, restaurant, entertainment, etc. In Butler's case it's expected to be $80Million or more. So, the $50Millio+
IS the cost to build and equip the casino. ps - slot machines alone will cost about $20Million - which gives you an idea of how expensive it can be.