Did you test your gambling habits yet?

Join

THE GAMALYZE CHALLENGE

Boyd Gaming Owed $19m in Tax Refunds Following Legal Battle

Listen to this news articleLISTEN TO THIS ARTICLE:

The longstanding legal conflict between Sumner County and The Kansas Star Casino, owned by Boyd Gaming, has centered on the valuation of the property and the consequent tax that the casino should pay.

This dispute has followed a repetitive yearly routine: Sumner County assigns a value to the casino, Boyd Gaming contests this with a markedly lower appraisal, leading to a courtroom showdown to determine the correct valuation.

Tax Rebate to Be Paid by Multiple Entities

This week, the courts ruled that the casino is entitled to more than $19 million in reimbursements due to these ongoing tax disagreements. The responsibility for these payments falls upon Sumner County, the local school district, and the City of Mulvane, which hosts the casino equipped with over 1,300 slot machines and more than 40 table games.

Mulvane’s city manager, Austin St. John, welcomed the decision, expressing relief that the period of uncertainty has ended and they now have clarity about their financial obligations. "We know what we’re paying," St. John stated, looking forward to a future where valuations are expected to be accurate.

Sumner County’s last tax assessment valued the casino at approximately $190 million. However, Boyd Gaming challenged this, leading to a court setting the value at about $85.5 million. Preempting the settlement, Mulvane increased its mill levy by eight mills in 2022.

Related: Boyd Gaming Hands Out Tens of Millions of Dollars to Lucky Guests in June

Second Legal Success for Boyd Gaming

In a separate legal matter, Boyd Gaming initiated a lawsuit against the state of Kansas in May 2022. The suit alleges that Kansas’s new sports betting laws breached their contract, which stipulates a $25 million fee should the state introduce slot games akin to those at Kansas Star Casino. Other defendants in this lawsuit include the Kansas Lottery and the Kansas Racing and Gaming Commission.

Despite these legal challenges, Boyd Gaming reported a 3% increase in total revenue for the third quarter of 2023, even amid a slight decline in year-over-year gaming revenue.

More Regulation News

RELATED TOPICS: Regulation

Leave a Comment

user avatar
My Name United States of America
Rating:
0.0
Your Comment

User Comments

Comments for Boyd Gaming Owed $19m in Tax Refunds Following Legal Battle