Caesars Entertainment continues to expand its operations around the United States. This week, the company revealed its first look at the proposed casino in Danville, VA. Many are excited to see what this new casino will have to offer its patrons.
It will take time for this property to open its doors. It’s clear that Caesars Entertainment is planning something special. Now is a great time to talk about some of the latest details surrounding this venue.
Let’s get into it!
Caesars Entertainment Releases Details on Proposed Casino in Danville, VA
Officials in the city of Danville, Virginia, have been looking into the possibility of opening a new casino-resort for years. After gaining approval to do so, city leaders began deciding which company should open and operate this casino. Eventually, Caesars Entertainment was chosen.
It seems this is becoming a major focus point for Caesars. The company released its official renderings for this $500 million property to the public this week. It is expected to have 500 rooms, a massive casino floor, a sportsbook, a several-thousand-seat theater, and a convention center.
The $500 million price tag is considerably more than what was initially expected. Caesars now claims it will begin groundbreaking in late 2021. The current goal is to get the proposed casino in Danville, VA opened at some point in 2023. Anthony Carano, President and CEO of Caesars Entertainment, spoke about the impact this casino will have on the city to the media this week.
“Caesars Virginia will be an economic driver for the region, both as a tourist and entertainment draw and through the more than a thousand good-paying jobs the resort will create,” Carano said. “The people of Danville have entrusted us to build a world-class resort, and we look forward to proving that trust was well-founded with an incredible resort worthy of the iconic Caesars brand.”
If all goes to plan, this will be the biggest and most luxurious casino in Virginia. Stay tuned for more updates on the opening of this venue over the next few months.
Analysts Expect to See Virginia’s Sports Betting Revenue Increase this Fall
Lawmakers in Virginia seem determined to expand the state’s gambling industry. New casinos are expected to open their doors here over the next few years. That includes the proposed casino in Danville, VA being planned by Caesars Entertainment.
Back in January of 2021, the first regulated sportsbooks launched in this state. Both land-based and online sports betting is now legal and regulated here. The sports betting operators here have seen fluctuating revenue figures since going live.
July proved to be a slow month for this industry. Most analysts expect things to pick up considerably over the fall months, though. This is primarily due to the 2021/2022 NFL season, which officially began last week.
A massive number of bets have already been placed on the season. More are expected to come in over the next few months. This will likely result in millions of dollars for the state of Virginia via taxable revenue.
It’s an exciting time to be a gambling fan in Virginia. Fortunately, many of the other East Coast gambling hubs are also faring very well right now.
New Jersey Reports Large Increase in Year-on-Year Casino Revenue
Virginia is quickly developing a large and profitable gaming industry in the East Coast’s central region. There is no doubt that New Jersey remains the largest casino hub in this part of the country, though. Many of the country’s most popular casino-resorts are currently located here.
New Jersey was one of the hardest-hit cities in the country from an economic standpoint throughout 2020. The casinos here were shut down for much of the year. Fortunately, most are seeing a major turnaround in 2021.
This August is proving to be a successful month for the gambling industry here. Reports have just surfaced showing that year-on-year gaming revenue increased by 31% this August. Total GGR came out to $427.6 million last month.
Casino revenue in the state may begin to fall as the year goes on. Sports betting revenue, however, is expected to rise considerably. We’ll be sure to offer more updates on the revenue reports in this state as the months go on.
Are you excited to hear about the proposed casino in Danville, VA? Let us know in the comments section below!