WSET-TV
In southern Virginia and officials for the city of Danville have reportedly launched negotiations that could see Caesars Entertainment Corporation given the right to build and operate the area’s envisioned casino.
According to a Monday report from local television broadcaster WSET-TV, the community of some 43,000 people is one of five that is due to seek voter approval via upcoming referendums for the right to host the state’s first batch of commercial casinos. These November 3 plebiscites were purportedly sanctioned by state legislators late last month and could also result in similar gambling-friendly developments for the Virginia cities of Bristol, Norfolk, Richmond and Portsmouth.
Early engagement:
The broadcaster reported that the administration of Danville mayor Alonzo Jones is optimistic about the prospects of the forthcoming referendums and wants to be able to quickly capitalize on a positive outcome by pre-selecting a partner to construct and run a proposed $400 million casino complex on the site of a former textile mill.
Comprehensive concept:
WSET-TV reported that Danville hopes that the coming development for its abandoned Dan River Mills industrial complex will be able to feature a 35,000 sq ft conference center and a 500-room hotel as well as multiple bars and restaurants, a 2,500-seat live entertainments venue and a casino offering approximately 2,000 slots, 75 gaming tables and a sportsbook.
Budding benefits:
Jones reportedly told the broadcaster that he anticipates the coming Virginia casino development creating around 900 temporary construction jobs in addition to about 1,300 full-time positions featuring annual salaries of between $35,000 and $47,000. He moreover purportedly pronounced that this envisioned Horseshoe-branded complex from Caesars Entertainment Corporation could open by the end of 2023 to generate in excess of $24 million in annual local tax revenues.
Crucial commitment:
WSET-TV reported that the ongoing negotiations could result in Las Vegas-headquartered Caesars Entertainment Corporation agreeing to make an upfront payment of at least $20 million to help cover associated land acquisition and public investment costs. It furthermore detailed that the city is hopeful of being able to use up to $35 million of the envisioned development’s projected annual tax revenues to fund projects that would encourage new business opportunities.
Jones reportedly told WSET-TV…
“We received several outstanding bids from a variety of companies competing to be Danville’s choice for a resort casino. The bid from Caesars Entertainment Corporation stood out as the best for our community.”
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