Bally’s Corporation today submitted a proposal to the City of Richmond, Va., to develop and operate the “Bally’s Richmond Casino Resort,” a destination resort, hotel and casino. The project, which will span more than 1.6 million total square feet, will include a casino, sportsbook, hotel, dining and retail outlets, and a flexible space for live entertainment and conferences.
Bally’s has proposed construction of the Bally’s Richmond on a 61-acre parcel located on the western border of Richmond.
Bally’s Richmond is projected to take approximately 18 months, with an anticipated opening in 2024. Bally’s estimates that construction, which will supply Richmond with several years of contractor and sub-contractor work, will cost approximately $650 million, including a one-time, $100 million upfront payment to the City of Richmond after selection. Upon completion, Bally’s estimates that the property will attract approximately 3.7 million visitors annually, generating approximately 1,700 full-time equivalent employment opportunities and approximately 2,000 total employees with FTE payroll.
The project is also estimated to generate approximately $415 million in total gross revenue annually.
Feature Photo Credit: Ballys Corp.