{"id":4094,"date":"2024-12-20T20:18:42","date_gmt":"2024-12-20T21:18:42","guid":{"rendered":"http:\/\/restaurace-pohoda.eu\/?p=4094"},"modified":"2025-01-02T13:33:29","modified_gmt":"2025-01-02T13:33:29","slug":"norfolk-casino-developers-say-construction-will-soon-begin","status":"publish","type":"post","link":"http:\/\/restaurace-pohoda.eu\/index.php\/2024\/12\/20\/norfolk-casino-developers-say-construction-will-soon-begin\/","title":{"rendered":"Norfolk Casino Developers Say Construction Will Soon Begin"},"content":{"rendered":"

The developers behind the casino planned for Virginia\u2019s Norfolk say construction will soon begin in earnest.<\/span><\/p>\n

\"Norfolk
A rendering of a $750 million casino resort in Norfolk. Voters in the Virginia city approved of such a gaming development back in 2020, but no work has yet been done on the resort. (Image: Boyd Gaming)<\/figcaption><\/figure>\n

Boyd Gaming and the Pamunkey Indian Tribe held a ceremonial groundbreaking<\/a> in late October on the $750 million project. Since then, there has been no construction vehicles or laborers on the site adjacent to the city\u2019s Minor League Baseball stadium called Harbor Park.<\/span><\/p>\n

That will soon change, officials at Las Vegas-based Boyd say. David Strow, Boyd\u2019s vice president of corporate communications, told WTKR <\/i>that residents should expect to see work on the resort start \u201cnext month.\u201d<\/span><\/p>\n

\n

We\u2019ve submitted all of our licensing material with Virginia gaming regulators and we are now working with the City of Norfolk to finalize our site plan,\u201d Strow explained.<\/span><\/p>\n<\/blockquote>\n

Boyd\u2019s update came after WTKR <\/i>ran a report on Wednesday questioning what\u2019s going on at the vacant construction site nearly two months after Boyd and Pamunkey officials and dignitaries held their supposed groundbreaking<\/a>.<\/span><\/p>\n

Boyd Involvement<\/b><\/span><\/h2>\n

Earlier this year, Boyd rescued the tribe\u2019s long-stalled plans to build a commercial casino along the Elizabeth River after billionaire Jon Yarbrough backed out of the development. Yarbrough sold his 80% stake in the project to Boyd for an undisclosed price.<\/span><\/p>\n

Norfolk voters approved of a casino resort through a local ballot referendum during the 2020 presidential election. The gaming question passed easily with 65% support.<\/span><\/strong><\/p>\n

The Pamunkey Tribe became Norfolk\u2019s gaming partner because the tribe and Yarbrough at the time were mulling a tribal casino resort. To thwart an oversaturation of gaming, Norfolk city leaders partnered with the tribe on a commercial endeavor.<\/span><\/p>\n

\n

While three other casinos authorized through local referendums during the same election have been built and are up and running<\/a>, Norfolk\u2019s casino has yet to officially break ground. Boyd\u2019s involvement reversed lost hope for the undertaking, as the company is one of the largest regional gaming operators in the country with a market capitalization of more than $6 billion.<\/span><\/p>\n<\/div>\n

Boyd operates 28 casinos in 10 states \u2014 Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania \u2014 and maintains a 5% equity stake in FanDuel<\/a>.<\/span><\/p>\n

In 2023, Boyd Gaming generated revenue of more than $3.7 billion, with its casinos accounting for $2.6 billion in gaming win. Boyd\u2019s full-year net income was $620 million, or $6.12 per share.<\/span><\/p>\n

Latest Blueprint<\/b><\/span><\/h2>\n

In October, Boyd Gaming said it wants to build a 200-room hotel overlooking Harbor Park and the Elizabeth River with a casino floor featuring 1,500 slot machines, 50 live dealer table games, and a FanDuel Sportsbook. Resort amenities include eight bars and restaurants, a live entertainment venue, meeting and event capabilities, and a resort pool.<\/span><\/p>\n

A temporary gaming pavilion tent is likely to open next year as construction of the permanent casino resort persists.<\/span><\/p>\n

In the coming years, Virginia will get a fourth casino by way of Petersburg where The Cordish Companies is investing $600 million to build Live! Casino & Hotel Virginia. Legislation is also expected next year to qualify Fairfax County in Northern Virginia for a casino, though there is widespread opposition<\/a> to that effort.<\/span><\/p>\n

The post Norfolk Casino Developers Say Construction Will Soon Begin<\/a> appeared first on Casino.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The developers behind the casino planned for Virginia\u2019s Norfolk say construction will soon begin in earnest. A rendering of a $750 million casino resort in Norfolk. Voters in the Virginia city approved of such a gaming development back in 2020, but no work has yet been done on the resort. (Image: Boyd Gaming) Boyd Gaming…<\/p>\n","protected":false},"author":1,"featured_media":4096,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[17],"tags":[],"_links":{"self":[{"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/posts\/4094"}],"collection":[{"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/comments?post=4094"}],"version-history":[{"count":2,"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/posts\/4094\/revisions"}],"predecessor-version":[{"id":4097,"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/posts\/4094\/revisions\/4097"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/media\/4096"}],"wp:attachment":[{"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/media?parent=4094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/categories?post=4094"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/tags?post=4094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}