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Eva Ivanova February 23, 2021 3 min read
Richmond, Virginia Could Have a World Class Resort by 2024
Bally’s Corporation, a U.S. gaming company, has submitted a proposal to Richmond, Virginia, to build a $650 million World Class Resort and Casino.
Bally’s Richmond Casino Resort Could Attract 3.7 Million Visitors
According to the proposal, “Bally’s Richmond Casino Resort” would consist of a 4-star hotel, superb dining amenities, pool and spa, state-of-the-art casino, and sportsbook, and a place for live entertainment conferences. The resort and casino could provide job opportunities to 2000 employees, full-time, annually attract 3.7 million visitors, and generate a profit of $415 million per year.
The proposed project would spread over 1.6 million sq. feet on a 61-acre parcel located on the west side of Richmond, Virginia. With direct access to the highway and proximity to the downtown area, the location promises to become a popular destination without disturbing the communities around. The project would take approximately 18 months to build and could open in 2024. The construction would cost $650 million, including the one-time payment of $100 million to the City of Richmond.
Last year Bally’s Corporation entered a long-term partnership with Elite Casino Resorts and secured its positions in Iowa. With this collaboration, Bally’s extended its reach over 11 states, making this the first state on which it doesn’t operate through its land-based casino.
Soo Kim, Chairman of Bally’s Corporation’s Board of Directors, stated that he’s interested in the city’s prosperity. He said that he is grateful for the opportunity and emphasized what developing this project could mean for the city and the thousands of jobs it could create. Kim stated that Bally’s is committed to the local businesses and communities and wants to promote diversity.
Bally’s Corporation with a Strong Focus on Richmond’s Local Business
Bally’s would support the local communities and businesses by forming long-term partnerships while working on the project. It will also include them in “Richmond Rewards”, a unique program, which will allow local retailers to pay off the rewards that players and guests have earned at Bally’s Richmond. Last month Bally’s entered the world of daily fantasy by signing a deal with one of the fastest-growing operators in North America, Monkey Knife Fight (MKF).
Some of the partnerships include Thompson Hospitality Corporation, which is willing to participate in the project with ideas for the restaurant. Some of its employees will also be a part of Bally’s Richmond local community support idea. Darrell Green, One of NFL’s top players of all time, and his Youth Life Foundation would build 4 centers in the area and hold charitable golf tournaments to raise money to help children at risk. Bally’s Corporation recently became NHL’s official sports betting partner.
With its Lanier United, a real estate and construction company, the Lanier Family will provide its construction services for the project. The construction company’s owner is Willie Lanier, Jr., son of the famous Virginia native, Pro Football player Willie Lanier, Sr.
George Papanier, President and Chief Executive Officer of Bally’s Corporation, shared his excitement from this unprecedented for Richmond opportunity. He said that this project would combine the traditions and culture of the area with leisure and entertainment. It would make the city a dynamic and diverse tourist attraction.