The leading gaming, hospitality and entertainment company, Ceasars Entertainment, started the work on its permanent casino in Danville, Virginia, a few years ago, in 2022. Ahead of the opening of the resort, planned for this December, the cost of the project has significantly increased.

While initially, Ceasars anticipated an investment of approximately $400 million, the construction of the permanent casino has nearly doubled, as suggested by a new report. On Monday, WDBJ confirmed that the cost for Caesars’ Danville casino project has increased to approximately $750 million.

The new sum represents a significant increase of nearly double what was estimated as the initial investment. In light of the increase in capital investment, the company is reportedly collaborating with the city about changes to its development agreement.

The Company Considers Changes to Its Agreement with the City

As a part of the changes, Caesars is anticipating selling between 10 and 20 acres of land to Danville. Provided that this sale is greenlighted by city officials and the land returns to Danville ownership, it is likely going to be used for the development of a new park.

Further changes to the development agreement involve reducing the minimum number of employees for the Danville permanent casino project. While initially, the minimum number of employees was 1,300, Caesars may consider decreasing this number to 900.

Ken Larking, Danville City Manager, who was recently quoted by WDBJ, revealed that over the last couple of years, much has changed. “A lot has changed in the past few years regarding the nature of construction, the nature of the workforce, and some things that come up that we needed to see happen as well,” he explained. Additionally, Larking pointed out: “So, we worked together for the past several months to come up with an agreement we can both be satisfied with.”

Recently, Caesars released its first quarter results, highlighting a decline despite an increase in iGaming win. The company’s quarterly report revealed that its net revenue for the three months ended March 31, 2024, halted at $2.7 billion. A year-over-year comparison showed a slight decrease when compared to the $2.8 billion result in 2023.

The adjustments to the development agreement between Caesars and Danville were recommended for approval by city staff. Still, the final decision is in the hands of the City Council. A vote on the proposed changes is scheduled to take place at the City Council’s meeting on Tuesday.

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The leading gambling and entertainment company, Caesars Entertainment, has announced the opening of Danville Casino. The company revealed that the ribbon-cutting ceremony for the temporary facility, which will be the future home of Caesars in Danville, was attended by hundreds of guests.

In addition to representatives of the casino’s venture partner, the Eastern Band of Cherokee Indians and Caesars’ officials, Danville’s Mayor, Alonzo Jones and Virginia State Delegate Danny Marshall also attended the opening ceremony. What’s more, visitors from Danville, as well as surrounding communities also joined the celebration earlier this week.

While the temporary venue opened its doors to visitors, the construction of the permanent resort, Caesars Virginia, is underway. The luxury resort is expected to open late in 2024, offering hotel accommodations with 500 rooms, as well as a large casino gaming floor.

The casino floor is expected to feature some 24 electronic table games, as well as 85 live table games. Additional gambling amenities will likely include 1,300 slots, a WSOP poker room and a Caesars sportsbook. Further amenities that are expected include a large convention and meeting space, a state-of-the-art live entertainment theater as well as a spa, pool and different food and beverage options.

Danville Casino Offers Plenty of Gambling Options

Chris Albrecht, Caesars Virginia and Danville Casino’s SVP and general manager, explained that the opening of the new temporary casino location is the result of the joint efforts of the company and its local partners. Finally, he noted: “We are grateful for the immense support we’ve received throughout this process and could not be more excited to begin showcasing the level of hospitality and family-style service that Caesars is known for here in Danville.”

“At Caesars Entertainment, we often say, ‘Together, We Win,’ and it is definitely through the collective effort of many hardworking Team Members and partners that we have successfully arrived at this opening today.“

Chris Albrecht, SVP and general manager of Danville Casino and Caesars Virginia

Thanks to the new temporary facility, visitors can enjoy gambling activities 24 hours a day, seven days a week. Gambling amenities within the temporary Danville Casino include 25 live table games with baccarat, roulette and blackjack, as well as 28 electronic table games with craps, roulette and blackjack.

Additionally, visitors to the casino will be able to enjoy 740 new and popular slot machine games. More amenities available on-site include a Caesars Sportsbook, as well as a dining outlet offering quintessential American dishes.

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