Caesars Entertainment in Negotiations to Open a Casino in Danville, Virginia

The officials from the city of Danville in Virginia are reportedly in advanced phases of talks with Caesars Entertainment regarding an eventual opening of a casino.

The prospective project could be completed by 2023 and would provide 900 construction jobs.

The Casino Race Begins

In Virginia, legislators voted in favor of casino legislation…

…and the construction of new casinos was approved for five cities: Richmond, Bristol, Portsmouth, Norfolk and Danville.

Residents of these cities will be invited to vote in a referendum to legalize these casinos this November. In case a majority approves these venues, each locality could open a full-scale commercial casino.

Mayor of Danville, Alonzo Jones, said:

“We received several outstanding bids from a variety of companies competing to be Danville’s choice for a resort casino. The Caesars bid stood out as the best for our community.”

Creating Jobs and Income

The possible Caesars Entertainment resort…

…could be located at Schoolfield’s former industrial complex, Dan River Mills. The initial capital investment would be in vicinity of $400 million and the resulting project would create 1,300 jobs with benefit packages and average wages between $35,000 and $47,000 per year.

The project includes a plan for up to 500 hotel rooms, a 35,000 square-foot conference center, a 2,500 seat live entertainment venue, multiple restaurants and bars, and 2,000 slot machines, 75 table games, 16 poker tables, and a sportsbook.

The estimated annual revenue generated by this casino could reach up to $20 million from taxes and payments to the city.

It will also generate $4 million in direct annual taxes from real estate, hotel taxes and sales.

Investment That Means Future For the City

The big annual revenue from the Caesars resort would be used in many ways that would make strategic investments in various sectors of the city in order to motivate investors and new opportunities to occur.

Carrie Bobe, Interim Director of Economic Development in Virginia, said:

“As a Danville native, I know how important the redevelopment of the White Mill is to our collective sense of pride. This is an iconic structure within our community, and we are as determined as ever to ensure that it will be brought back to life as we continue to transform our riverfront.”

Source:

“Danville negotiating with Caesars Entertainment for casino in Schoolfield”, wset.com, May 19th 2020