The United States is still coming to terms with the results of a historic Presidential Election, but that hasn’t stopped Caesars from scoring a Biden-esque win of its own.
Caesars Group has been hoping to secure approval for a project in Danville, and it finally got the voter’s approval with more than 70% voting for the new project.
The casino project in Danville, VA is expected to break ground in early 2021 and be completed in just 3 years.
A Big Win for Danville and Caesars
Caesars Group is always on the lookout for new projects and areas in which it can set up new casinos and entertainment centers.
The Danville project has been years in the making, but finally the group has been given the permission it needs to be able to finish up designs and break ground on the $400 million project.
Danville’s current unemployment sits at around 9.6%, which will be reduced greatly thanks to the number of new jobs that the entertainment center will create.
The Caesars Group’s new entertainment complex is expected to generate around 1,300 jobs and bring in more than $34 million per year in annual tax revenue.
This will be huge for Danville following the collapse of Dan River Inc’s Schoolfield back in 2006.
The complex will go on the Schoolfield land which has been abandoned for more than 14 years, regenerating land that has been crumbling for over a decade.
A New Hope
The Caesars Gaming and Entertainment Complex will cost around $400 million and consist of hotels, bars, restaurants, a casino and a sportsbook.
At a time when land-based casinos are feeling the pinch, this is an ambitious project, so it’s clear that Caesars Group is pinning its hopes of glory on President-elect Biden ending COVID-19.
Casinos in Las Vegas have seen player numbers drop drastically since COVID-19 made its way to America, and things aren’t picking up.
That being said, punters across Nevada have been scooping up huge jackpots and hitting the headlines – all of which is good for business.
But, that’s not quite enough to make up for the 70% decrease in visitor numbers, which is hitting casino’s bottom line pretty hard.
Moreover, the Culinary Union claims that its members are being exposed to COVID-19 due to casinos cutting corners and putting staff at risk.
If COVID-19 cases continue to explode across the US as winter draws in, we could see President-elect Biden forced to close establishments such as casinos once more.
If this is the case, we will see huge numbers of job cuts around the US, not just in Vegas, as casinos continue to suffer.
Time to Break Ground
Ground breaking is set to commence in early 2021, and once it begins, there will only be a 3-year wait before the ribbon is cut and the new establishment is open for business.
As long as the government can curtail COVID-19 by then, and prevent construction sites from suffering delays, then January 2024 will be a huge year for Danville and its residents.
Local businesses are excited at the prospect of the new entertainment center and the customers that it can attract to their own businesses and establishments.
The new center will complete the Danville ecosystem.