The investment in the Caesars Casino Resort Danville project has increased by $100 million as construction is set to commence soon.
The project, which Caesars officials are set to commence with a formal groundbreaking in early 2022, is now projected to receive a $500 million investment.
At first, the estimated cost of the project, which received formal approval from Danville voters in 2020, was around $400 million.
However, they now estimate that the project will cost $500 million.
A first look at Caesars Casino
Caesars casino officials held a meeting with Danville residents earlier this week, where they shared an update on the project and sought input from the locals.
During the recent Election Day, the residents of a particular city expressed strong approval for a casino referendum, with a significant 70-30 majority. This city was among four others that granted permission for the establishment of casinos in 2020. Additionally, Richmond might also become part of this trend by conducting a vote later this year to approve the opening of its own Virginia casino.
The property will be located in Schoolfield on an 85-acre site that was previously recognized as the Dan River Mills industrial complex.
Residents discovered that the substantial 25% budget increase could be attributed to the construction of a larger hotel.
Originally planned with 300 hotel rooms, Caesars Casino Resort Danville is now aiming for 500 rooms, with potential for future expansion by constructing more hotel towers.
In addition to the Caesars casino, which will include a casino, sportsbook, and poker room, the resort will also feature a conference center and entertainment venue. Moreover, hotel guests can indulge in various amenities such as a spa, pool, and fitness center when they are not engaged in gambling activities.
Additionally, numerous restaurants, bars, and retail shops will be available.
During Monday’s meeting, a glimpse of the property and its attractions was offered, albeit only certain parts of it. Authorities announced their intention to unveil comprehensive casino renderings and designs on September 16.
Latest timeline for Danville casino
Despite workers having completed some site clean-up for the Caesars casino, formal construction has yet to commence. Nevertheless, within the following weeks, crews will initiate the demolition of certain sections of the site in order to accommodate new development.
The target of opening in 2025 remains the initial plan, according to Robert Livingston, Senior Vice President of Development at Caesars Entertainment.
We are exerting a lot of effort to obtain full permitting by mid-November. We are currently meeting our deadlines and remain confident in achieving our goal. Our ultimate plan is to open this project towards the end of 2025, aiming for the earliest possible date in early 2025.
Officials’ plan to integrate much of the former architecture of the largest textile facility in the southern US, which now serves as the future casino site, was met with delight by numerous Danville residents.
Nevertheless, the demolition of the revered water tower and the existing building on the premises is inevitable. Nonetheless, they intend to incorporate the site’s distinctive smokestacks and red bricks as crucial elements in the overall architectural scheme.
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