The opening of Caesars Virginia in Danville, VA, originally planned for late 2025, has been postponed to 2025 due to notable setbacks. The casino resort’s launch has been delayed as a result.
In September 2021, site preparation commenced for the $500 million project at the Dan River Inc. factory property in Schoolfield. The original timeline designated early 2022 for demolishing the old buildings and laying the new foundation. Subsequently, after a thorough two-year construction period, the schedule aimed for a grand opening in late 2025.
Despite the delay of the Caesars in Danville, plans for three other Virginia casinos are still being developed.
Significant setbacks delay opening
Caesars corporate spokesperson Robert Livingston declared on May 4th that they have been encountering supply chain difficulties and other market forces that persistently cause chaos.
It should come as no surprise that COVID-19 has caused a complete halt in construction projects, regardless of their size. Anirban Basu, the chief economist for the Associated Builders and Contractors (ABC), has addressed the increasing pressure resulting from this situation.
“Inflation continues to surge with no sign of relief on the horizon for the country’s contractors.”
Labor shortages
In addition to supply chain delays, Livingston highlighted the problem of labor shortages. According to ABC, there is a demand for over 500,000 construction jobs across the country. Virginia ranks among the top 10 states in terms of the number of construction jobs required, with a significant need for an additional 165,000 workers. This clearly signifies a strong demand for labor in the state.
Unforeseen problems
According to Livingston, construction progress on the Caesars site has been hindered by certain site-specific delays.
It seems that in the past, the common practice was to pour concrete into any openings that needed to be sealed. Consequently, we are currently excavating a substantial amount of concrete at the site.
Caesars was taken by surprise when they uncovered a century’s worth of concrete at the Schoolfield site. Due to each of these unforeseen circumstances, the company has been compelled to delay its deadline by approximately one year.
According to Councilman Sherman Saunders, officials from the City of Danville have expressed their support.
Unexpected issues arose, which is not uncommon. However, the significance of the name, the positive response from the voters, and the attention received due to the name and investment, all justify their actions. Additionally, they are willing to bear the expenses associated with it.
Once the setbacks become clearer, Caesars will provide an exact opening date. The groundbreaking is scheduled for either late May or early June.
Although Caesars will not be opening in 2025, they will continue to make annual settlement payments to the state. These payments, amounting to $5 million each quarter, will commence in 2025.
Legalizing Virginia online casinos is one possible solution to mitigate this delay; however, it seems unlikely to happen in the near future.
Related Articles
