Virginia: Danville budget projects $25M in casino gaming revenues

The city of Danville expects to bring in $25 million in revenue during its next fiscal year from Caesars, which currently operates a temporary casino in the city and plans to open a full casino resort by the end of 2024.

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About $16.3 million of this total is expected from state-collected gaming tax revenue, and the other $8.7 million is the local supplement that Caesars Virginia agreed to pay the city as part of its development agreement. The minimum local supplement that Caesars must pay Danville each year is $5 million.

Danville will use only this $5 million for ongoing expenses, said City Manager Ken Larking at a briefing Tuesday where he presented the city’s proposed budget.