Upping investment, Caesars teams up with Eastern Band of Cherokee Indians for Danville casino
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Caesars Entertainment on Wednesday announced a joint venture partnership with the Eastern Band of Cherokee Indians to develop the new casino in Danville and upped its estimated investment in the transformational endeavor for the city.
The $650 million project — expected to break ground later this week — is touted as a tourism engine for Danville's future.
The estimate is an increase over the $500 million previously announced in September that was already $100 million more than the development agreement.
The Eastern Band of Cherokee Indians is a federally recognized tribe based in western North Carolina. As a sovereign nation it has its own laws, elections, government and institutions, according to the group's website.
“We are excited to build a world-class Caesars resort in Danville with the Eastern Band of Cherokee Indians, a valued partner of Caesars Entertainment for more than 20 years,” Anthony Carano, president and chief operating officer for Caesars Entertainment, said in a statement.
Caesars will serve as the manager of the casino. EBCI Holdings, a Delaware limited liability company is solely owned by the Eastern Band of Cherokee Indians and operated independently by a senior leadership team reporting to a five-member board of directors, according to a news release.
EBCI was formed to diversify the tribe’s economy in casinos and hospitality-based businesses
Demolition of the former Dan River Inc. finishing building at Schoolfield was completed last month, making the way for the Caesars Virginia casino resort projected to open in 2024.
The casino is expected to generate up to $38 million in tax revenue to the city after it is up and running.
Whiting-Turner is the contractor that will build the Danville casino resort. The firm also has constructed the Horseshoe Baltimore, as well as projects at Caesars Palace Las Vegas, The LINQ Hotel+Experience Las Vegas, Harvey’s Lake Tahoe and more.
Plans include a destination resort casino with a 500-room hotel.
“This venture is a vital opportunity for our nation and our people," said Richard Sneed, principal chief of the Eastern Band of Cherokee Indians. "We are excited to be expanding our longstanding and successful partnership with Caesars Entertainment to develop a first-class resort that will be defined by luxury and service that Caesars’ guests have known and come to expect.”
The casino will feature more than 1,400 slot machines and table games, Caesars Sportsbook and WSOP Poker Room, a live poker room named for and carrying the spirit of the legendary World Series of Poker with 25 tables, Caesars Entertainment has said.
Meeting and convention space will total 40,000 square feet with an entertainment venue to accommodate up to 2,500 guests. There will also be restaurants and bars. Nine hundred construction jobs will be filled as well as 1,300 operational jobs.
