Caesars Virginia — a work in progress

Lots can change over three years and eight months.

Back in September 2020, Danville, its industrial development authority and Nevada-based Caesars Entertainment signed a development agreement naming Caesars the city’s preferred gaming operator and outlining the parties’ obligations.

Back then, Caesars budgeted $400 million to build its Caesars Virginia resort casino on the Schoolfield mill site, once a part of Danville’s bygone textiles industry. Initially, Caesars planned to hire 1,300 full-time employees.  

In May, Danville City Council members voted 8 to 1 to amend the agreement.

The biggest takeaway: the price tag for Caesars Virginia has almost doubled. It’s now a $750 million investment. 

The increase has a lot to do with the passage of time, according to Chris Albrecht, senior vice president and general manager of Caesars Virginia. 

“Some of the scope change included adding a covered parking garage, some incrementation to our hotel rooms, and then really the rest of it is just changes in construction costs and supply costs since this project started four years ago,” he explains. 

In the 2020 agreement, Caesars agreed to build 300 hotel rooms in Danville. For a while, that number shot up to 500 rooms, but developers later scaled plans back to 320 rooms.

Under the new agreement, Caesars Virginia only has to hire 900 full-time employees, who will be paid at least $31,200 a year or no less than 125% of the federal minimum wage, whichever is greater.

Caesars currently has 460 workers operating its temporary Danville casino, which opened in May 2023. In coming months, Albrecht says, he expects to hire “another 700 or so.”

Additionally, Caesars now plans to build a single multipurpose space instead of a conference center and a separate entertainment venue. For performances, the space can hold 2,500 fans. 

“So, all the things that we talked about and promised from the beginning are happening,” Albrecht says. “They’re just happening in the same room.”

Back in 2020, casino executives had planned to open Caesars Virginia in three years. The completion date listed in the contract is Dec. 31, 2024, but that date might involve some wiggle room. 

“They want it to be open by Thanksgiving,” says Ken Larking, Danville’s city manager. 

Albrecht would not confirm that. 

“When we have an exact date to put out. to the world, we will be excited to share,” he says.