Caesars wins bid to build a Virginia casino

Caesars just found a path to increase its spotty presence in the southeastern US.

They have the two Cherokee properies in North Carolina, but both are in the western area of the state. In a few years, the Raleigh/Durham area won't have to make the long trek to Baltimore or Cherokee to play at a Casears property.

Caesars has won a bid to build a property in Danville, Virginia: https://www.virginiabusiness.com/art...campaign=daily

Danville is in southeastern Virginia. It's just 50 miles from Greensboro, NC, and just 82 miles from Raleigh, SC.

The casino will be ready in 2023 -- which is probably fine with Caesars, as it gives the country plenty of time to either control or eradicate the coronavirus.

The Danville property will give Caesars a presence in most of the southeastern US. They still have no casino in the Georgia or Florida areas, but this is a step in the right direction.

Tourists may not find reason to visit the new Danville property. While there are some nature areas to the northeast, there aren't any major tourist attractions nearby, or even in that direction along the way to anything else.

Quote:

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Economically challenged cities across the state granted approval by the Virginia legislature this year to open one casino each, provided that investors agree to put at least $300 million into each project and that city councils and voters approve. The other cities are Richmond, Portsmouth, Norfolk and Bristol; all but Portsmouth have casino projects moving forward, including two involving the Pamunkey Tribe in Norfolk and Richmond. Developers in Bristol are working with Hard Rock International, which will be an equity partner in the casino if approved by Bristol voters this fall.

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Interesting, these will probably become nice cash cows for each regional operator.