Full Throttle

File this under “the best laid plans of mice, men and Lesa France Kennedy, president of International Speedway Corp, becomes a lost bet.”

In what were the grand plans of the ISC president and the Cordish Corp for a Hard Rock Hotel & Casino and road racing course on the grounds of Kansas Speedway have been shelved by the ongoing credit crunch.

Friday morning, just hours before the proposal by International Speedway Corp. and the Cordish Co. to construct a $705-million Hard Rock Hotel and Casino in turn two of the speedway was scheduled to receive final approval, the developers pulled their bid.

The developers said that the tight credit market and economic crisis currently plaguing the country forced the move.

The decision could permanently end hopes for the second date and the construction of a road-racing course at Kansas Speedway. And avert a possible loss of a Watkins Glen date to Kansas.

Conceptual drawing of the proposed casino at the Kansas Speedway.

They said that they plan to resubmit a bid that would allow them to construct the casino first and then add such amenities as the hotel and retail shops as the country’s economy improves, something not allowed for under the bid which was accepted by the Kansas Racing and Gaming Commission earlier this year.

It was originally hoped that a second race could be on the 2010 schedule but Kansas Speedway president Jeff Boeger said that hope is all but dead. Boerger said that if the rebidding process moves quickly and the ISC-Cordish bid is accepted, 2011 remains a strong possibility for the second race.

The original bidding process took almost two years. Boerger thinks that a re-bidding process could move quite a bit more quickly.