Officials predict that the upcoming opening of Caesars Virginia in Danville will result in significant economic gains for the city.
The Virginia casino is anticipated to generate $12.1 million in revenue for Danville in the upcoming fiscal year. Approximately $8 million of this amount is expected to be contributed by local gaming tax revenue, according to city officials.
During a press conference, city manager Ken Larking expressed his enthusiasm for the community’s upcoming journey, stating, “I cannot contain my excitement about our collective endeavor.”
Our intention is to seize this opportunity and contribute towards improving the lives of Danville’s residents.
How will Danville spend its dollars from Caesars Virginia?
The current city budget proposal for Danville highlights the allocation of Caesars Virginia funds, with a priority on investing in schools and other initiatives that can contribute to enhancing economic development.
In a recent press conference, Larking emphasized the significance of heeding the Investing in Danville Committee’s recommendations when it comes to expenditure decisions for the city.
Larking emphasized the importance of exercising caution in utilizing casino revenues if there is no guarantee of their availability.
The state-collected local gaming tax revenue is the most definite aspect. Larking’s budget plan reveals that out of the estimated $8 million tax revenue, approximately $2.8 million will be allocated to economic development initiatives. Danville Public Schools will receive around $2.5 million. The rest of the funds will be distributed accordingly:
- The cost for the police department headquarters is $840,000.
- $800,000 for blight removal
- The cost of implementing gang prevention programs amounts to $467,000.
- The cost of summer internship programs is $252,000.
- The total amount required to accomplish the Plan Danville endeavor is $105,000.
- The cost for rental inspection districts is $96,000.
Larking believes that the reason for supporting the Investing in Danville Committee is based on the idea of ensuring long-term sustainability.
The objective of the Investing in Danville Committee recommendations is to ensure that our investments in initiatives like this yield sustainable revenue sources in the long run.
According to the city’s release, Larking’s budget results in approximately $4.1 million remaining from the initial projection of $12.1 million. These remaining funds will be allocated towards “general governmental operations.”
Danville revenue expected to surge once permanent Caesars casino opens
Virginia’s only Caesars casino is set to open its doors to customers in July, ensuring minimal wait times for eager patrons. Caesars Virginia anticipates a partial opening later this summer.
The casino is scheduled to open in 2025 and will remain open indefinitely.
The temporary casino in Danville can be found on West Main Street, specifically at the former Dan River Mills site.
The city predicts that the opening of the complete and permanent Caesars Virginia casino in 2025 may lead to a tremendous increase of $12.1 million. Projections suggest that the city might even witness an impressive sum exceeding $39 million.
Larking expressed his belief that if executed properly, the people of Danville would experience substantial benefits from this opportunity. He emphasized the positive impact it would have on their economy, overall quality of life, and job prospects.
The impact on Virginia’s two other casinos, Rivers Casino Portsmouth and Bristol Casino – Future Home of Hard Rock, has been similarly significant. Both casinos rely heavily on their respective residential employees for carrying out daily operations.
Caesars Virginia not limiting its job search to just Danville
According to Caesars Virginia General Manager Chris Albrecht, the Danville casino is currently offering over 400 job opportunities, encompassing various roles such as gaming dealers, cocktail servers, cashiers, finance, and more. However, Albrecht mentioned that the casino is not limited to hiring solely from within Danville for these positions.
“We have visited Caswell County and Greensboro, accompanying the Chambers and engaging with numerous colleges and universities that are prepared. Hence, we are seeking talented individuals not only from Danville but also from the entire Virginia region surrounding us, including North Carolina.”
If you are interested in applying, please visit the Caesars Virginia website to access a comprehensive list of available job openings.
Danville casino expected to help fuel tourism
Once it officially opens, the Caesars casino in Danville is projected to attract approximately 2 million tourists, according to earlier reports.
According to the Virginia Tourism Corp., the majority of visitors to the region are motivated by their desire to see friends and family. The organization approximates that approximately 14% of travelers visit for recreational purposes.
According to Lisa K. Meriwhether, the town’s tourism manager, she is confident that casino enthusiasts will contribute to the array of outdoor activities available in the city.
Furthermore, it is worth mentioning that a total of 8% of the visitors are fond of indulging in the outdoor recreational amenities our destination offers. With the forthcoming opening of the Caesars resort, we can anticipate a steady increase in the number of visitors who will relish our celebrated 11.5-mile Riverwalk Trail, Dan Daniel Memorial Park, and the esteemed 35-mile Anglers Ridge mountain-biking trails, which have been ranked among the top 10 bike trails in Virginia.
Danville takes pride in its multitude of parks, such as Ballout Park, Dan Daniel Memorial Park, and Coates Park. In addition to these, there is also an enticing art trail and over 25 neighborhood parks equipped with play facilities.
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