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US – Bally’s through to three bid final in quest for Virginia casino

By - 25 March 2021

The Bally’s Richmond Casino Resort, a proposed $650m world-class destination resort, hotel and casino, has been selected as one of three finalists by the City of Richmond’s Evaluation Panel to host a casino gaming establishment.

Bally’s proposal represents the largest casino resort project and the largest upfront payment to the City at $100m. The Evaluation Panel made its determination after a thorough review of six proposals submitted in late February 2021. Bally’s encourages residents, business owners and leaders within the City of Richmond to visit BallysRichmond.com for more information and to follow the #BallysForRVA social media campaign on Twitter, LinkedIn, Facebook, Instagram and YouTube.

George Papanier, President and Chief Executive Officer of Bally’s Corporation, said: “We are excited and honored to have been selected as a finalist and have the continued opportunity to partner with the City of Richmond, its residents and businesses on this campaign. The Bally’s Richmond is truly a Richmond-first project, dedicated to supporting local businesses and minority organizations by driving job creation and developing sustained economic opportunities. We are confident that our proposal will provide incomparable economic benefits to the greater Richmond community, and we look forward to continuing our dialogue to prove to the City and its various stakeholders that Bally’s is for RVA.”

The Bally’s Richmond will be strategically situated on a 61-acre parcel located at the intersection of the Powhite and Chippenham Parkways. Bally’s is currently working with its civil and traffic engineers, who have been conducting various surveys and assessments, to ensure multiple access routes into and out of the property that are not only convenient for patrons, but also efficiently direct traffic away from local major roadways. Bally’s is also committed to preserving and enhancing the natural beauty of the site, including the natural, wooded surrounding and wetlands, which it intends to seamlessly integrate into its overall design.

Mr. Papanier continued: “We are committed to the local RVA community that will serve as the host for our project, and look forward to working with community leaders and residents to address any concerns they may have.”

Bally’s proposal is also supported by multiple leaders of the greater Richmond community, including the Lanier Family (Willie Sr. and Willie Jr.), and Warren Thompson, Founder, President and Chairman of the Board of Thompson Hospitality Corporation. Additionally, the Virginia Asian Chamber of Commerce has committed its exclusive support to the Bally’s Richmond project, while the Carolinas-Virginia Minority Supplier Development Council and the Northern Virginia Black Chamber of Commerce have committed their support. The development will create 4,300 construction jobs and more than 2,000 permanent jobs upon completing the project with annual salaries that far exceed a $15 per hour threshold. The casino aims to attract 3.7 million visitors expected annually, generating $5.3bn in economic value over a 10-year period; and
$30m in annual economic activity and spending through Bally’s innovative “Richmond Rewards” program that will incentivize players and guests to redeem the rewards they earn at local retailers.

Bally’s will have the opportunity to discuss its proposal during a virtual meeting hosted by the Evaluation Panel on April 1. The Evaluation Panel is expected to issue its final recommendation in mid/late May 2021. The process will culminate with a voter referendum scheduled to occur on November 2, 2021.

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