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Casinos for you
Virginia's Norfolk Resort & Casino Continues to Gain Support
By Shane Addinall Oct 26, 2020 IndustryIn a time of financial uncertainty, a proposed casino and resort could be the revenue and job creation lifeline that the City of Norfolk Virginia needs. See what local leaders and the Pamunkey tribe have to say about this potential development.There are certain industries around the world which are lauded as being bomb-proof. These are industries where despite local and international economics and legalities they will continue to remain stable if not grow, and gambling is one such industry.
In the face of the economic impact of the pandemic and its resultant lockdown’s job creation and investment into local infrastructures are much sought after. Norfolk Virginia has received a much-needed lifeline in the form a proposed casino and resort development, and local leaders could not be more thrilled.
Looking at the Bottomline
The proposed Norfolk Resort & Casino is the reason for an upcoming referendum, the outcome of which will determine whether or not the project moves forward. With an initial investment of $500 million plus an estimated annual tax income of as much as $30 million the local leaders are extremely positive about the project and what it means for the region.
Norfolk mayor, Kenny Alexander, said of the proposed resort:
“New opportunities will be presented to our businesses and entrepreneurs, and our city will potentially benefit from millions of dollars in new tax revenue that will be committed to public education. This would be the first project of its size to be financed without taxpayer subsidies, and the land for this project will be purchased at full-market-value.”
The mayor is not the only local political figure to come out in support of the proposed resort, rather its supporters boast a veritable who’s who of upstanding figures including former mayor Paul Fraim, city council representatives Courtney Doyle, Mamie Johnson and Tommy Smigiel and local senators Lynwood Lewis and Jen Kiggans, to name but a few.
A Boon to the Pamunkey Tribe
The Pamunkey Tribe have been designated the preferred developer for the project which will greatly benefit the indigenous American people.
Robert Gray, Chief of the Pamunkey Tribe, said:
“Leaders from every corner of Norfolk have been so enthusiastic about this project, and the Tribe is grateful for their support. This has been a true partnership throughout, and I know that it will continue to provide benefits for Norfolk well into the future.”
The proposed development will create at least 2000 construction jobs for the tribe, and once completed the resort will require approximately 2500 full time or equivalent roles to be filled.
The outlined resort will be a spectacular venue boasting over 300 hotel rooms, hosting 3000 slot machines, 150 table games, several restaurants and bars as well as an entertainment facility capable of seating 2500 guests for Vegas-style showcases
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