The potential Pamunkey Indian Tribe casino that may arrive in downtown Norfolk could mean up to US$33 million would go into city coffers each year.
US.- The Pamunkey Indian Tribe continues to push to develop a casino in downtown Norfolk. Amid negotiations for it, the tribes assured they may turn nearly US$33 million a year to the city.
The tribe shared its estimates for the potential Pamunkey casino with the City Council. The money it would pay comes from the 4% it would turn from gaming to the government.
Later this month, the City Council may take up approval for the venue. However, Councilwoman Andria McClellan says the lawmakers haven’t discussed the Pamunkey casino properly yet.
“If I’m going to back this, the only way I will is if we can guarantee the money is going to schools and flooding,” McClellan said.
Even as the venue would turn millions to the city, outgoing City Manager Doug Smith was cautious about it.
“Market dynamics and political dynamics are going to influence how big this project can be,” Smith said. “If we’re the only casino in Virginia, we’re obviously going to have a lot more business than if there’s a casino in Portsmouth and Bristol.”
The Pamunkey would invest US$700 million into its resort and casino complex. It could host up to 4,500 slot machines and 225 table games. Those may bring in more than US$824 million a year, according to the high end of estimates recently shared.