Indeed, people consider the state of Virginia a bit behind the times. More specifically, when it comes to casino gambling. With surrounding states such as West Virginia and Maryland way ahead of curve in real money gambling. Having said that, things are about to change.
Will There Be A Casino In Danville, Virginia?
The Virginia General Assembly will begin to consider various forms of gambling legislation. First of all, it appears they set the stage for expansion. One plan is the reopening of Colonial Downs race track in the coastal area of the state. More recently, a post on a local southern Virginia NBC affiliate points to Danville as a possible casino location.
The Danville City Counsel Is Open To The Idea?
Recently, there is a local news report by Heather Butterworth. Furthermore, she explains the Danville City Council is open to the idea. It recently announces that it will consider supporting state legislation concerning gambling expansion in the upcoming General Assembly session. More specifically, Danville can opt for a local referendum on the construction of a casino resort in their city.
One of the proposals being consider at the state level is the use of local referendums to bring real money casinos to Virginia. Danville Mayor Alonzo Jones was quoted as saying, “We are talking about an unprecedented number of jobs and significant new revenue in our city. He went on to say, “Its too large of a potential investment opportunity to dismiss out of the gate.”
Going back to October, the United Company of Bristol went to the City Council with the idea of building a casino. The next step in the process was to conduct an economic study. Chmura Economics and Analytics perform this study. The result was independent employment and fiscal impact analysis for the Danville area. The report focuses on a casino resort that includes a hotel, restaurants, entertainment venues and convention space.
Some of the pertinent findings in the Chmura study include:
• An initial $118.7 million impact on the local community. This includes 182 jobs that relate to the construction of a casino resort. It also allows for the possible renovation of existing facilities.
• Most importantly, the job total that relates to the project should be 2,534 by 2022. Also, this relates both direct and indirect employment ties to the casino.
• Indeed, economics estimate economic impact in 2022 at $384.8 million. Furthermore, this includes both direct and indirect attributes of the entire hotels.
• Projecting out another six years to 2028, employment figures continue to expand. Also, they estimate the number of jobs that relate to the casino industry in the Danville area would be 5,426 direct positions. Additionally, 1,408 indirect positions.
• The economic impact for the 2028 time frame is set at $909 million. This figure is tied to the direct results of the casino operations. Another $183 million has been tied to the indirect and induced impact throughout the local community.
• The estimated tax revenue generated by this project would be $12.1 million locally by 2022. The local tax revenue would expand to $20.3 million by 2028.