Temporary Virginia casino pays off after exceeding expectations
The temporary Ceasars Danville casino in Virginia has far outpaced financial expectations, according to the late revenue results.
Since opening in May of last year, the facility which is essentially a small pavilion or tent, has generated more than $220 million in gaming revenue, exceeding initial financial projections.
As a city, Danville has benefited, receiving more than $20 million, $7 million more than originally anticipated.
With the additional money, Danville is likely to see more money pumped in to improve neighborhood parks, schools, and there are other economic development initiatives in the pipeline that have been earmarked.
So far, the temporary casino has attracted more than 100,000 visitors per month, although it is believed that once the permanent casino is fully up and running, the number will likely increase significantly.
Danville City Manager Ken Larking admitted he thought the figure would be more, although he was taken aback by how much revenue the casino has generated.
Apart from bringing more visitors through the door, staffing levels are expected to triple from around 400 to approximately 1,200 employees, further bolstering city coffers.
When it first opened, the Danville Casino housed 740 slot machines and 25 live dealer tables, but that has since expanded to 800 slots and 33 tables.
More significantly, construction costs have ballooned over the past few years. Initially, Caesars had planned to spend $400 million when the project was first given the green light in November 2020.
By August 2022, this figure had shot up to $650 million, and earlier this month, construction costs rose again to $750 million.
As things stand, the Danville Casino is making smooth progress and it remains on track to open by the end of the year.
And judging by the revenue figures, the temporary casino has done just the job by delighting patrons.
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