Caesars Virginia Danville casino wins nearly $12 million in first two weeks
Caesars Virginia's temporary Danville casino opens May 15. The gaming area is off to a good start with 740 slot machines, 25 live dealer tables and 28 electronic tables. Previously, the property management company said it had gross gaming revenue (GGR) of nearly $12 million in its first two weeks of operations.
Caesars Entertainment is spending $650 million to build a permanent integrated casino resort on the site of the former Dan River Mills textile campus. While the resort was under construction, Caesars opened a temporary play area in a pavilion tent next to the construction site.
Casino officials said they were pleased with the early turnout. Guests come not only from the Southern District of Virginia (sometimes called the Black Belt), but also from all over the Mid-Atlantic and Southeast.
We are seeing license plates from places like Maryland, Pennsylvania and North Carolina,” said Danville City Manager Ken Larking.
Caesars' Danville casino won $11,925,361.70 in the first 14 days, according to the Virginia Lottery, which regulates all forms of commercial gambling in the commonwealth. Larkin said GGR's projections for the temporary casino's pre-opening exceeded expectations, but he expects business to cool down slightly after the excitement surrounding the opening.
"It's been a grand opening these two weeks and everyone is excited. It's something new and everyone wants to be a part of it," Larkin said. "It's not going to be like this all year. But it's definitely going to exceed expectations."
More information about Caesars Inn Virginia
Danville is one of five cities joining the state Legislature in 2020. The new law authorizes cities to ask residents whether they think building casinos would help stimulate ailing economies. About 69% of Danville residents voted for Kaiser in the 2020 election, while 31% of local voters opposed it.
Most point to the many economic benefits Caesars Resorts will bring to the area. The permanent resort, expected to open next year, will include a casino floor with 1,300 slot machines, 85 gaming tables, a WSOP poker room and Caesars sportsbook, Caesars said. The hotel will be expanded to include a 500-room hotel, a 2,500-seat theater and 40,000 square feet of meeting space.
The future resort will require 1,300 permanent employees and is expected to generate approximately $26 million in local tax revenue annually for the city of Danville. Danville also received a one-time payment of $20 million from Caesars.
Danville Tax Benefits Start
Caesars Virginia Danville Casino already provides significant tax revenue to the city. Danville City Council member Lee Vogler said the casino's opening weeks have exceeded local government expectations.
They've exceeded all expectations so far," Vogler said."The sales we're achieving are actually higher than what we expected for May and June. "
Of the nearly $12 million in GGR, Danville cut about $1 million from its share of local gaming taxes and its escrow agreement with Caesars. Vogler said the city budgets about $250,000 a week for the casino.
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Source: www.casino.org
