Virginia casino gets closer

A local tribe has finally come to an agreement with Virginia to launch a major casino development, which will open at Washington County.

US.- The Eastern Band of Cherokee Indians (EBCI) have finally reached their goal. According to chief Richard Sneed, they have come to an agreement with the state of Virginia to develop a casino.

The venue would include an outdoor concert venue, recreational facilities and a hotel.

“I have visited the site along I-81. I am impressed with its strategic, gateway location that serves a five-state area,” Sneed said. “It is our wish to bring new tax revenue and jobs to Washington County and the Southwest Virginia region.

“Our agreement with Chief Sneed of the EBCI is an extraordinary opportunity to bring an experienced casino owner-operator to Washington County and the Southwest Virginia region,” developer Steve Johnson said. “We look forward to working with the Cherokee Nation, local leaders, and elected officials in Richmond. We’ll bring this massive opportunity to fruition.”

Casino revenue

The Virginia Joint Legislative Audit and Review Commission conducted an impact assessment of its legislation.

The commission forecasted Virginia casinos to contribute with US$262 million in taxes per year. It also assured sports betting may transfer  US$55 million in taxes once it reaches maturity.

Despite its praise for the revenue-generating industry, the commission issued some warnings about it. They said there’s a lack of problem gambling support in the state which must be urgently addressed. 

Another US$84 million may flow in to state coffers from online casino gaming. It would be strictly related to land-based venues.