Virginia’s casino industry is about to expand. On November 3rd, voters in the state approved a measure to allow a new casino in Danville. This week, Caesars Entertainment offered some exciting new updates on this property.
There are some big changes coming here. Some feel Virginia will soon become one of the largest casino destinations in the United States. Now is a great time to look at what Caesars has planned in Danville.
Let’s get into it!
US Casinos Continue Asking for Aid From the Government
It’s been almost eight months since all of the country’s casinos were forced to shut down. Incredibly, things haven’t improved by very much. Nearly all casinos are still seeing massive drops in their year-on-year revenue earnings.
The biggest US casino companies are suffering right now. Many have recently been forced to implement new safety measures recently. With cases of Covid-19 increasing around the country, casinos are seeing major dips in visitation rates.
Many of these companies are now asking for more aid from the government. Not long ago, the head of the American Gaming Association sent a formal aid request to the federal government. This official claims many of these companies could fail without support.
This includes some of the biggest casino operators in Las Vegas. Not long ago, the Sheldon Adelson-run Las Vegas Sands announced it was interested in selling many of its US casinos. Most agree this decision is due to the state of the country’s land-based casino industry.
Things are clearly tough for all casinos around the country. That doesn’t mean this industry is heading towards a complete downfall, though. Some states are actually working to expand their number of casinos right now.
That includes Virginia. News has just broken that residents here have approved plans to open several more gambling venues.
Virginia Approves Measure to Open New Casino in Danville
Lawmakers in Virginia have been discussing plans to expand the state’s casino industry for years. Much of the focus centered around whether or not to allow a new commercial casino in the city of Danville. Most residents here seemed open to the idea.
Many seemed unwilling to bring this idea to the ballots. Finally, a bill to officially add a new casino in this city was approved earlier this year. It then came down to a public vote appearing on November 3rd.
News has broken that the vote to open a new casino in Danville was passed unanimously. Caesars Entertainment is already selected to operate this new venue. The company released an official statement this week expressing excitement to break into this new city.
“Caesars Entertainment thanks the voters of Danville for their support of the referendum that will bring Caesars Virginia to Danville. We look forward to fulfilling the trust the voters have placed in us by bringing 1,300 good-paying jobs, tourism dollars and economic development to the City, and we are incredibly excited to begin construction,” the statement said. “We’d like to offer our sincere thanks to all of our supporters, especially the City of Danville team, our campaign steering committee, campaign committee co-chairs Delegate Danny Marshall, Mayor Alonzo Jones, Dr. Tiffany Franks and Tammy Wright-Warren, Campaign Director Steven Gould, Josh Norris and the entire campaign staff.”
Officials within Caesars went on to state that this casino would be competitive with the other gambling venues in the state. Groundbreaking is expected to take place in mid-2021. If all goes according to plan, the casino-resort will open its doors to the public by 2023.
It’s an exciting time for gambling fans here. It seems likely that the US casino industry will be back to normal by the time the new casino in Danville opens. We’ll continue offering updates on this venue over the next few months!
The Sports Betting Industry Continues to Grow in the US
There has been a serious debate growing over how the US casino industry will fare over the next few years. It’s an unprecedented time for this industry and things are constantly changing. There’s no doubt that the sports betting industry in the United States is growing rapidly, though.
Back in May of 2018, the US Supreme Court struck down PASPA, allowing each state to set its own laws on sports betting. Within just a few weeks, several states approved this new form of gambling. Today, more than 25 states have approved measures to regulate sports betting.
News has now come out that several states have just approved sports betting legislation. Maryland, South Dakota, and Louisiana have all officially approved measures to allow sports gambling. Officials and residents in these states recognize how much revenue legal sports betting can bring in.
Many of the top European sports betting companies are now making their way into the US market. William Hill has been operating in the country for years. Not long ago, Caesars Entertainment purchased this company and will soon take over all of its US assets.
Virginia approved sports betting legislation this year, yet no sportsbooks have begun operating here yet. Soon, all of the state’s casinos will feature sportsbooks. This should help to bring some much-needed revenue in.
Are you excited to hear about the new casino in Danville? Let us know in the comments section below!