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Hospitality | Tourism 2023: CLYDE STACY

PRESIDENT, PAR VENTURES, BRISTOL

Hospitality | Tourism 2023: CLYDE STACY

PRESIDENT, PAR VENTURES, BRISTOL

//August 30, 2023//

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A former coal mining executive who headed Rapoca Energy, Stacy is a prominent developer and investor in his hometown of . He purchased the vacant Bristol Mall for $2.6 million in 2018 and partnered with longtime friend Jim McGlothlin, chairman of The United Co., to build Virginia’s first . The two friends were instrumental in changing state laws to allow casinos in economically challenged Virginia cities.

The Hotel & Casino Bristol, a $400 million development, is slated to open next summer. Expected to generate as many as 1,500 jobs, the casino will also include a 3,200-seat performance venue and a 20,000-person outdoor entertainment space. A temporary casino opened in 2021.

Stacy was an investor in Dharma Pharmaceuticals, a licensed medical cannabis processor that was acquired in 2021 by Chicago-based Green Thumb Industries for $80 million. In October 2020, the company was the first in Virginia to dispense medical marijuana after the General Assembly loosened cannabis laws. Dharma Pharmaceuticals’ founders filed a lawsuit against Par Ventures, claiming Dharma is owed more than $7 million in relocation expenses for moving out of the Bristol Mall in 2021.

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