Judy's Prize, the casino, was not put up for sale. Harrah's purchased the riverboat and 30-acre complex when it closed three years ago for approximately $12.5 million.

The Kansas City office of Jones Lang LaSalle handled the auction. There were several bidders for the complex, but neither the exact number, nor the bids were revealed. The adverstised minimum bid for Sam's Town was $3 million. The property was put on the market in October 1999 at an asking price of $7.5 million.

Cerner real estate manager Brian Irwin, said in a statement, that "negotiations are currently under way with the bidders. For more information regarding this process, please contact the owners of Sam's Town."

Cerner has about 1,800 employees based in Kansas City, North. The company recently revealed long-term expasion plans for its current headquarters, but construction has yet to begin.

The Sam's Town complex put on the auction block includes a 1,300-car parking garage, 80,000-sf central building and 25 acres of vacant land. Sam's Town, owned by Boyd Gaming Corp. of Las Vegas, opened in September 1995. It struggled financially and closed soon after Station Casino Kansas City opened a couple of miles to the east in January of 1997.

Harrah's has announced plans to move Judy's Prize down river to Louisiana where it will become part of the company's Lake Charles casino, which is west of New Orleans.

Instant Insights /

Harrah's Entertainment May Have Buyer for Sam's Town Complex

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