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Prairie Meadows, county talks hit impasse

April 29, 2011 - Four months after its previous lease expired, Prairie Meadows and Polk County are officially at an impasse over a new lease.

The racetrack-casino's board voted unanimously Wednesday to seek mediation on a new eight-year pact.

That's something the county, which owns the Prairie Meadows property, first sought in February. Then the two sides seemed to have a breakthrough over terms that would pay the county $25.6 million through 2013 and more after that if Prairie Meadows' revenues rise, as expected.

The sticking point has been coming up with a "what if" scenario, if legislation is passed that reduces Prairie Meadows' profits. That legislation could include a smoking ban, which could cut revenues by an estimated 20 percent, or a tax increase on casinos.

The past lease expired Dec. 31, and the two sides are operating under a month-to-month deal that pays Polk County the same $1.4 million per month in rent as it received before.