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Casino Watch: Penn Gaming Awaits Ruling

Penn Gaming is awaiting a ruling from Kansas City this week, which might expand gaming in the area -- to the likely benefit of Penn Gaming stock, of course.

TOPEKA, Kan. (

TheStreet

) --

Penn National Gaming

(PENN) - Get Report

might well receive a boost this week if Kansas City clears its final hurdle to gain approval to build a new casino in the area.

The Kansas Racing and Gaming Commission is scheduled on Friday to consider a background report on Kansas Entertainment, a joint venture between International Speedway and Penn Gaming.

The two companies are looking to build a casino at Kansas Speedway that will be operational by 2012. The project is slated to cost $521 million.

If Penn Gaming and International Speedway receive the OK, they will begin building immediately.

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Meanwhile, in other regional gaming news, a state senator in New Hampshire is trying yet again to expand gambling in the state. Senate Finance Chairman Lou D'Allesandro says that since the economy is in such a dire state, video slot machines might be better received.

D'Allesandro's bill would allow slots at race tracks in Salem, Seabrook and Belmont, and at two undesignated sites in the North Country.

-- Reported by Jeanine Poggi in New York.

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