Caesars Danville Surpassing Revenue Expectations for Temporary Venue
Since its inauguration in May, Caesars’ temporary casino in Danville (pictured) has been a roaring success for the operator and with the local community.
In fact, so much so, state lawmakers in nearby North Carolina have brought up the Virginia venue several times in their bid to launch three new casino venues in their state.
Located just north of Virginia’s southern border, Caesars Danville has consistently outperformed revenue projections.
By July, the casino had generated an impressive $52.3 million in revenue. It pulled in $21 million in July to add to the $20 million in June and the $11 million it made in its first two weeks.
This rapid financial growth has been a boon for the city of Danville, which has received approximately $4.4 million from tax revenue and direct payments since the casino’s opening.
The temporary gaming facility, which boasts 740 slot machines, 25 live dealer table games, and 28 electronic table games, operates on the same grounds where Caesars Entertainment is building a $560 million casino resort named Caesars Virginia.
Splash Parks for All
Danville Vice Mayor Dr. Gary Miller was more than satisfied with the extra income for his town so far.
“We knew we’d get at least $500,000 because that’s direct payments. Beyond that, we just didn’t know. You don’t know how long these things take to grow, but it’s growing fast,” he said.
The city’s gamble on the casino seems to be paying off handsomely.
The revenue isn’t just padding the city’s coffers either. It’s being funneled into projects that enhance the quality of life for Danville’s residents.
“This is not for day-to-day expenses of the city,” Miller said.
“Splash parks are the in-thing, and we’re going to have four. So, there’s a number of places money’s going.”
The additional revenue is also aiding in the funding of the riverfront park, community events, and neighborhood improvement projects.
Once the casino reaches a $200 million revenue mark, the community will get even more – with an additional 2.5% going to the city.
“We want to continue to make Danville an attractive place to live. If it’s a good place to come, a good place to raise your children, a good place to work, then more people will come,” Miller said.
Caesars’ success in Danville hasn’t gone unnoticed. In July, the casino earned nearly $8 million more than the Hard Rock Bristol casino, and trailed the permanent Rivers Casino Portsmouth by just under $1 million.
The relative success of all three Virginia brick & mortar casinos has been of keen interest to lawmakers looking at casinos in neighboring North Carolina.
They want to legalize casinos in three of the states more deprived areas, that are close to state borders.
Caesars won’t be too worried, however, as its temporary venue is holding its own and then some, with just a big white tent in operation so far.
Plans for the permanent Caesars Virginia casino resort, to open next year, include a 500-room hotel, a casino floor with moe than 1,300 slots, 85 live dealer table games, a WSOP poker room, a Caesars Sportsbook, and multiple restaurants and bars.
Interestingly, you can watch a 24/7 livestream of the build progress here, including the main entrance and car park of the temporarily operating venue.