Caesars ups Danville casino investment to $650M

Caesars Entertainment Inc. has once again upped its investment in the forthcoming Caesars Virginia casino and resort  in Danville, this time from $500 million to $650 million, while announcing Wednesday that the Eastern Band of Cherokee Indians is now a joint venture partner in the casino project.

Plans for the casino include a 500-room hotel, 1,300 slots, 85 live game tables, 24 electronic table games, a World Series of Poker-branded live poker room and a Caesars sports book. It is also slated to have a full-service spa, pool, bars, an entertainment venue that can accommodate up to 2,500 people and 40,000 square feet of meeting and convention space.

“This venture is a vital opportunity for our nation and our people. 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,” Principal Chief of the Eastern Band of Cherokee Indians Richard Sneed said in a statement.

Caesars, EBCI and a local minority investor will be partners in the joint venture, according to news release.

The casino will break ground this week and is expected to be completed in late 2024.

This is a breaking news story and will be updated.