- The costs to open the new Caesars casino in Danville, Virginia is making headlines for increasing costs from $400 million to $750 million.
- Caesars also plans to lower the minimum number of casino workers from 1,300 to 900 employees.
- The new Virginia blackjack spot expects to open in December of 2024.
DANVILLE, Va. – Virginia residents have waited years for a new blackjack spot in the state. After Caesars broke ground on their permanent casino in 2022, their investment has increased from $400 million to $750 million.
Caesars and the city of Danville are reworking their development agreement, which includes modifications to the property and a significant decrease in the number of employees. The casino entertainment company agreed to sell between 10 and 20 acres back to the city, where Danville plans to build a park.
Increased Costs Benefit City Revenue, Hurt Employment
City Manager Ken Larking told WDBJ that construction costs are responsible for some of the changes.
“A lot has changed in the past few years regarding the nature of construction, the nature of the workforce, and some things that come up that we needed to see happen as well. So, we worked together for the past several months to come up with an agreement that we can both be satisfied with.”
The increased costs end up benefiting the city due to the casino’s real estate taxes impact on revenue. However, the increased capital investment and decreased casino space means there will be a lowered minimum of only 900 employees for blackjack and other jobs, 400 less employees than the initial plan.
The changes aren’t official and still require City Council to approve the changes in Tuesday’s meeting. Residents can expect the new Virginia blackjack retail location to open in December of 2024.