Danville is the latest city in Virginia to be given permission to build a casino and will move forward with the construction project this year. Government officials are already licking their lips at the potential millions they will receive in tax revenue. If you are stuck in Canada can’t wait for your next American gambling trip you can always try your luck online and play at woo-casino.ca.
Caesars, the famous Las Vegas-based gambling operator, is ready to pour $400 million into building the Danville, Virginia casino. They have chosen a former textile factory as their casino location and are prepared to start the transformation process this year. They expect to open the casino resort in late 2023.
Danville government officials couldn’t be happier with the proposed casino as they estimate the gambling alone will bring the city $22 million in taxes. In comparison, the resorts’ other offerings, including food and accommodation, could net Danville another $5 million annually.
The local government is excited to be able to offer its citizens more extensive services without having to hike tax rates. They said they are usually in a tough position on whether to increase taxes or cut services. However, with the new tax revenue, they are in a strong position to offer its residents the best of both worlds.
Where Will The Danville Government Spend Its New Casino Tax Revenue?
Over $4 million will be used to improve the local public schools. The money will go to purchasing a new heating and cooling appliances and other overdue repairs. Schools will also be getting improved sporting facilities, including a weight room and running track.
Danville schools do not have a good record in Virginia, so officials are hoping the funding boost can also help them jump up the rankings and see them get out of the bottom 10%.
The Danville city council will vote on the financial plan in June, but pledging millions to local schools is surely going to be popular with the Danville community.
Caesars has already splurged $15 million in Danville in an effort to improve the local infrastructure surrounding their new casino.
Danville Won’t Just Benefit From Juicy Casino Tax Revenue
The almost $30 million annual tax revenue is a big win for Danville, but the benefits of the new casino resort don’t stop there.
Caesar’s massive casino construction project will create over 1000 jobs for local Danville residents, and once the casino is finished, Caesar expects to employ 1,300 people permanently. Yearly salaries are expected to be over $50,000, which will have profound positive impacts on the local economy where the average salary is below $23,000, and over 20% of the population lives in poverty.
The new casino is expected to literally pull thousands of residents out of poverty and provide them with meaningful work.