The city of Danville in Virginia agreed to welcome a casino to the city as an affiliated operator for Las Vegas gaming and hospitality giant Caesars.
Caesars Dips First Toe in Regulated Virginia Casino Market
With the casino industry around the United States slowly reopening, Caesars has marked an important landmark, establishing a subsidiary in Danville, Virginia. The milestone has been completed after the City Council of Danville passed a resolution earlier this week, allowing Caesars to set up shop in Virginia, and specifically in Danville, becoming the city’s leading casino operator.
This is part of Virginia’s attempts to respond to moribund economies around the state. Earlier this year, lawmakers agreed to give an official go-ahead to five Las Vegas-styled casino resorts in five locations in the state that have been experiencing economic doldrums.
The move, lawmakers hope, would allow Virginia to restart local economies in Portsmouth, Richmond, Norfolk, and Bristol, with Danville also on the list and already secured a partner. Previously, Bristol secured a partnership with Hard Rock International which will now see the establishment of a casino resort in the city-controlled area.
Meanwhile, Norfolk secured a partnership with the Pamunkey Tribe to introduce a tribal casino to the city. With the officials now giving a go-ahead to the project in Danville, there is still one last hurdle to clear, which often proves difficult – Danville’s citizens.
For the Tuesday unanimous vote to translate into the establishment of Caesars casino project, the proposal will also have to go on the November ballot which will have citizens decide if they agree to the establishment of a gaming facility. Such matters, if there is sufficient local opposition, could quickly turn contentious and potentially project-disrupting.
So, What’s Caesars Planning If Cleared?
Should all voting go according to plan and Caesars is allowed to release its $400 million casino resort in Schoolfield, taking the place of the former Dan River Mills industry site, the company should see a 500-room hotel and a casino emerge.
As per Caesars’ plans, the complex will feature a casino with 2,000 slot machines, 75 table games and 16 poker tables. There will be numerous amenities guaranteeing the guests having a good time. Caesars confirmed that the site will also feature a sportsbook as well as a 35,000 sq ft conference center along with a number of food and beverages outlets, live entertainment and well-being venues.
Danville stands to benefit doubly from the project. First, Caesars will be paying around $20 million in upfront fees and then continue to add around $30 million in tax revenue. There should be around 900 jobs during the construction phase and another 1,300 permanent jobs as part of the casino and hotel once it’s completed.
Average annual wages will range between $35,000 and $47,000, which will reflect well on the city, which has been struggling to attract new investors. Caesars expects to complete the project in 2023, assuming everything goes according to plan.