Virginia Casino Project Pushed Back to 2024

Caesars Entertainment And Stock Market Background
Casino fans in Virginia will have to wait longer than expected for Caesars to come to the Old Dominion. Officials from the casino developer announced this week that their plans for a Danville casino have been delayed. The casino was originally supposed to open in 2023.

According to Caesars Entertainment, there were several factors that caused the delay. Chief among the issues with the project were disruptions in the supply lines. Also, it was taken longer to get the project site ready than Caesars originally anticipated. Despite these issues, officials reiterated their commitment to the Danville site.

Luckily, residents of Virginia will have another casino option soon. Hard Rock International will launch the first commercial casino in Virginia later this year. The temporary casino will just be a placeholder while Hard Rock constructs a new venue scheduled to open in 2024. There are also two other casino projects ongoing in the state.

Caesars’ Plans for a Virginia Casino

Caesars Entertainment was one of five casino developers approved to build a casino in Virginia. The casino giant plans to build its Virginia casino in Danville, VA. Voters in Danville approved Caesars’ plans last November during a ballot referendum.

The Caesars Virginia project is the most expensive of any of the Virginia casino projects. In total, the new casino is expected to cost $500 million. It was originally supposed to open by the third quarter of 2023. On top of being the most expensive, Caesars’ new casino would also be the largest in the state.

When completed, the new casino will have a total of 1,400 slot machines and 75 table games. There will also be a 16-table World Series of Poker Room. Sports bettors will be able to access a Caesars Sportsbook on-site.

The resort portion of the new Caesars Virginia project plans for a 500-room hotel. The venue will also have a spa and pool complex as well as multiple dining options. Caesars also plans to build a concert venue that can hold 2,500 seats. Another 40,000 square feet is designated as a meeting space for conferences and other events.

What Caused the Casino to Be Delayed?

Caesars Virginia will still be completed, but it will not be done by the original deadline. According to a spokesperson from Caesars, the project has been delayed until at least 2024. Caesars announced the project delay earlier this week. Even with the delay, Caesars plans to continue with the project as planned.

According to the statement from Caesars, the delay is due in part to disruptions in the supply chain. Many businesses have been affected by shortages recently due to the coronavirus pandemic. However, the lack of materials is not the only reason construction has slowed.

Caesars also claims that the project site has been more difficult to prepare than they anticipated. The new casino is being built on the site of an old textile mill. Currently, Caesars is working to clear the existing structures so they can build new ones. The lack of labor for the project has also been an issue.

First Virginia Casino License Approved

Caesars Entertainment is not the only major developer building a casino in Virginia. Hard Rock International was also among the approved operators. The casino giant will be opening a temporary casino in Bristol, VA this summer. It will be the first casino in the state of Virginia.

For now, Hard Rock will operate its casino out of a renovated mall in Bristol. The casino developer has been renovating the space since last December. The temporary casino will only need to operate until the permanent venue is finished. Hard Rock plans to finish building its new casino by July 2024.

Hard Rock Bristol carries a $400 million price tag. The massive gaming venue will stretch over 90,000 square feet. In addition to a hotel and casino. It will also include a 3.200-seat performance center. There will also be an outdoor entertainment venue that can seat up to 20,000 people.

Conclusion

Plans for one of the first casinos in Virginia are off to a rocky start. Caesars Entertainment announced earlier this week that its casino project will be delayed. The venue will now aim for a launch in 2024 and not 2023 as planned.

In the announcement, Caesars cited supply and labor shortages as the cause for the delay. However, the casino giant made it clear that it is committed to building a casino in Virginia. Voters in Virginia legalized commercial casinos in 2020, and the first venue will open later this year.