A casino in Danville could significantly boost the city’s economy, reveals a comprehensive study that details the impact of a casino on the city.
The study conducted by the Danville Regional Foundation reveals that a big casino gambling facility in the city will not only boost tourism but also create employment for thousands.
The study estimates that a large casino in the city could pull in about 1 to 2.1 million visitors annually to Danville. It also expects to create about 3,500 jobs.
Having based its findings on 10 percent and 15 percent tax rate, the Regional Foundation’s study estimates the casinos could gross over $300 million in annual revenue. It is projected that the city will pull around 10 million in tax revenue from casino gambling.
Addressing the concerns of competition from casinos in neighboring states, the DRF reports that Danville’s casinos will compete with other VA casinos for the in-state market and the parts of the NC market.
It also mentions that if the legislature puts the legal age of casino gambling at 21, the market will be comparatively smaller.
The study notes that if NC legalizes casinos, it will negatively impact Danville’s casino market which would shrink significantly in that case.
Addressing the concerns of problem gambling – as voiced by those in opposition to a casino in the city – the study estimates that “Problem Gambling could impact about 2,200 local residents at an annual cost of $1.3 million in Danville and $1,9 million in Pittsylvania.”
While the study focuses on the brighter side of having a casino it fails to sufficiently convince those in opposition to the prospects of having a casino in the city.
Danville has already launched the request for a proposal from prospective casino developers. The deadline for submitting a proposal is January 13. A gambling operator is allowed to submit a maximum of two proposals.
“We have had a lot of interest from various casinos and operators to come to our city and talk to us, because they know the City of Danville is one of a few cities in Virginia that may eventually have a right to have a vote,” said City Manager Ken Larking.
** Access the Regional Foundation’s report here: Danville Regional Foundation