Create an Account - Increase your productivity, customize your experience, and engage in information you care about.
The City Council on Tuesday night voted to approve a development agreement with Caesars Virginia as the city’s casino gaming operator.
The development agreement is a legally binding document that outlines what Caesars Virginia is promising to deliver to the City of Danville should the casino gaming referendum pass on Nov. 3.
The highlights of this development agreement include promises to do the following:
Based on estimates provided by Caesars and reviewed by Convergence Strategy Group, City Manager Ken Larking says it is expected that, by year three of operation, this project will produce $22 million in state-collected gaming tax revenue remitted to the City of Danville, $12 million in supplemental payments to the City of Danville, and $4.2 million in meals, sales, hotel/motel, and property taxes.
The resort is to be located at the former Dan River Mills industrial complex in Schoolfield.
Several other matters were on the agenda Tuesday night. City Council voted to: