Norfolk Approves Casino Project with Pamunkey Tribe and Boyd Gaming in Virginia

Casino News

Norfolk’s long-awaited casino project has moved forward, with plans for a temporary casino by November 2025 and a permanent resort by 2027. The project, a partnership between the Pamunkey Indian Tribe and Las Vegas-based Boyd Gaming, received crucial support from the Norfolk City Council, which voted 7-1 to approve the development agreement on Tuesday. This vote represents a significant step in the years-long effort to bring a casino to the region, with Boyd Gaming replacing former partner Jon Yarbrough.

The casino, previously known as the HeadWaters Resort & Casino, is now moving forward under a new name yet to be announced. Construction of both a temporary and a permanent facility will begin in early 2025, with the temporary casino set to meet the state-mandated deadline of November 2025 for its opening. According to Boyd Gaming’s general counsel, Uri Clinton, cited by Virginia Business, the temporary facility is not the primary focus but will serve to comply with Virginia Lottery requirements for licensing. “The transitional casino is not a big item relative to the overall project,” Clinton said, emphasizing that the attention is on the permanent resort.

Once completed, the permanent casino resort will include a 200-room hotel, 1,500 slot machines, 50 table games, eight restaurants and bars, and 13,000 square feet of meeting space. The project will also feature 4,000 square feet dedicated to a spa and gym. While the casino will offer a temporary gambling experience, the full luxury resort experience is expected to be a transformative addition to Norfolk’s waterfront.

Pamunkey Tribe and Boyd Gaming Team Up

Boyd Gaming’s partnership with the Pamunkey Indian Tribe marks the latest evolution of this project. The tribe’s previous partnership with casino entrepreneur Jon Yarbrough ended amicably, according to Pamunkey Chief Robert Gray. Boyd Gaming now holds a majority stake in Golden Eagle Consulting II, the entity managing the casino development. Gray expressed optimism about the new partnership, stating: “We’re moving in this direction. It’s just a fantastic opportunity.”

Boyd Gaming, a publicly traded company with nearly five decades of experience, operates 28 casinos across 10 states. This venture represents the company’s first foray into Virginia. Boyd has a strong track record of building and managing successful casino operations, including recent projects in California and Louisiana. The company has committed to working closely with the Pamunkey Tribe to realize the vision of a world-class gaming resort in Norfolk.

Economic Impact and Community Benefits

The economic benefits of the casino are significant for the region. Boyd Gaming estimates that the construction of the permanent casino will generate $510 million in local economic impact and create 2,850 temporary construction jobs, along with $173 million in salaries and wages. Once operational, the casino is expected to contribute $2.9 billion in economic impact, provide $583 million in salaries and wages, and create 850 permanent jobs.

The Norfolk casino is one of several approved by Virginia voters in a 2020 referendum, which also saw casinos approved in Danville, Bristol, and Portsmouth. While these other locations have already opened their casinos, Norfolk’s project faced delays due to design disputes and other complications. With the new agreement in place and Boyd Gaming’s involvement, the project is now on track to meet the state’s requirements.

A New Era for Norfolk’s Waterfront

Norfolk Mayor Kenny Alexander hailed the City Council’s vote as a milestone in the city’s development efforts. “Boyd Gaming Corp., in partnership with the Pamunkey Indian Tribe, is set to deliver a premier destination that will generate millions of dollars in tax revenues, create numerous jobs, and revitalize our waterfront,” Alexander said. The casino is expected to be a major draw for tourists and locals alike, boosting Norfolk’s economy and enabling further investment in community projects.

Boyd Gaming CEO and President Keith Smith also expressed enthusiasm for the project, calling Norfolk “one of the largest underserved gaming markets in the mid-Atlantic region.” He highlighted the company’s plans to develop a “transformational gaming entertainment experience” on the Norfolk waterfront.

Products You May Like

Articles You May Like

Rio Hotel & Casino completes first phase of multi-year renovation
Assange says he is free because he ‘pled guilty to journalism’ – as it happened
Bryn Kenney Labels Phil Hellmuth a Minor League Poker Player
Relax Gaming Bolsters Ontario Presence with PointsBet Partnership
Betfred to cease operations in Virginia on October 21, stops accepting new wagers

Leave a Reply

Your email address will not be published. Required fields are marked *