The Kansas Racing and Gaming Commission have asked for an extension to finish background checks on the joint venture between International Speedway Corp and Penn National Gaming (PENN: 25.62 0.00%).

In December Kansas Entertainment was approved as the developer and operator of a proposed casino at the Kansas Speedway. Regulators were initially given 70 days to complete the background checks, but now have until March 8 to wrap up loose ends.

Commission spokesman Mike Deines said there’s no serious issue, but more time is needed.

The $700 million casino project can not move forward until the checks are completed.

The group plans to develop a Hollywood themed project that includes a casino, hotel, spa, convention center and entertainment and retail district to begin opening in early 2012.

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