Bally's is a finalist for operating casino resort in Richmond
24 Mar 2021
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.
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. Through these partnerships, Bally's will:
- Partner with historically Black colleges and universities (HBCUs) to provide education and training opportunities, internship programs and prospects for long-term employment;
- Promote careers within the hospitality industry, providing a rotational management training program, job-shadowing workshops and opportunities to local students and individuals;
- Sponsor its minority investor partners' work and local charitable organizations;
- Leverage its 15+ million player database and the Bally's Richmond state-of-the-art visitor center to transform Richmond it into a tourism hub; and
- Work with the City and local organizations to ensure residents and business owners have a voice in the project and the future opportunities that it will create.
- a $100 million upfront payment to the City of Richmond;
- 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;
- MBE participation goals of 30% for construction and up to 40% for professional services
- 3.7 million visitors expected annually, generating $5.3 billion in economic value over a 10-year period; and
- $30 million 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.