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Averett president steps down after 3 months, citing wife’s illness
David Joyce stepped down Friday as the 15th president of Averett University due to a family medical matter, according to the Danville private school. “It is with a heavy heart I share that my wife, Lynne, has experienced a serious medical diagnosis that will require our fulltime attention,” Joyce said in a statement. “Lynne and […]
Averett files lawsuit alleging ex-CFO, firm ‘drained’ school’s endowment fund
Danville private university Averett University has filed a federal lawsuit alleging its former chief finance officer worked with an investment firm to conceal illicit draws from its endowment that were used to cover budget deficits. In a complaint filed March 26 in the U.S. District Court for the Western District of Virginia, Averett states that […]
Warner worried about Microporous $100M grant
U.S. Sen. Mark Warner, Virginia’s senior Democratic senator, is worried about the possibility of the Trump administration clawing back a $100 million federal grant awarded by the U.S. Department of Energy (DOE) to Microporous, the Tennessee company planning to invest $1.3 billion to build a lithium-ion battery separator facility at the Southern Virginia Megasite at […]
Danville-Pittsylvania authority invests in history
Using a $1.89 million loan from the Virginia Small Business Financing Authority, Danville and Pittsylvania County officials plan to purchase about 289 acres adjacent to the Southern Virginia Megasite at Berry Hill. Members of the Danville-Pittsylvania Regional Industrial Facility Authority (RIFA) unanimously agreed in January to move forward with purchasing the land at 5981 Berry […]
Va. casinos report $75M+ haul for February
February gaming revenues from Virginia’s three casinos totaled $75.2 million, according to a March 14 report from the Virginia Lottery. February’s statewide casino gaming revenues were up $2.86 million from January’s $72.34 million. Last month, Hard Rock Bristol casino reported about $19.75 million in adjusted gaming revenues (wagers minus winnings), of which about $16.43 million[...]
Va. casinos report more than $72M in January revenue
January gaming revenues from Virginia’s casinos totaled $72.34 million, according to a report from the Virginia Lottery released Friday. Last month, Hard Rock Bristol casino reported about $18.52 million in adjusted gaming revenues (wagers minus winnings), of which about $15.16 million came from 1,486 slots and $3.36 million came from 77 table games. The Virginia […]
Goodyear to cut 850 jobs in Danville
About 850 jobs will be cut by the end of the year at Goodyear’s tire manufacturing facility in Danville, according to a document the tiremaker posted Tuesday. The Goodyear Tire & Rubber Co., which is headquartered in Ohio, reached an agreement on Jan. 30 with the United Steelworkers union “to reduce the company’s production capacity […]
Va. casino revenue rose 32% in 2024 over previous year, lottery reports show
The house always wins, Virginia’s three casinos proved in 2024, raking in nearly 32% more in adjusted gaming revenues than in 2023. Some of the gains are related to the fact that Danville‘s Caesars Virginia opened its temporary facility midway through 2023 and was in operation throughout 2024. According to data provided by the Virginia Lottery […]
Hundreds pack into Caesars Virginia on opening day
Hundreds of people descended upon Danville‘s Main Street Tuesday to celebrate the opening of the $800 million Caesars Virginia, the third permanent casino to open in the state. Caesars didn’t shortchange on spectacle for the first day. A faux Roman legionary struggled to climb out of a Rolls-Royce to join Vegas-style showgirls and others for […]
Amid financial concerns, Averett University names new leadership
Averett University announced Wednesday that its board has appointed David Joyce as its 15th president. Tiffany Franks, who has served nearly 17 years as president of the Danville private university, will retire Jan. 5, 2025. The leadership change comes following months of headlines about the school’s financial woes and cost-saving measures like staff furloughs and […]
Caesars delays Danville casino’s opening by 5 days
The $750 million Caesars Virginia resort in Danville will host grand opening festivities on Dec. 17 instead of Dec. 12 as previously announced, Nevada’s Caesars Entertainment announced Friday afternoon. On hand will be retired Chicago Bulls basketball star and five-time NBA champion Dennis Rodman, who will lead a parade of race cars supplied by Virginia […]
Van maker repays state grant after Pittsylvania layoffs
Morgan Olson has paid back a $500,000 Virginia Port Authority grant after the Michigan-based manufacturer of walk-in step vans failed to employ an agreed-upon number of workers at its facility at the Cane Creek Centre Industrial Park in Pittsylvania County. It’s not the jubilant future economic developers had envisioned when celebrating the company’s October 2019 […]
