Bally’s Corporation cut out from Richmond casino shortlist
The City of Richmond has revealed that Bally’s Corporation has been cut out from the final shortlist of proposed operators for the new casino resort in the city, for which Bally’s had put in a bid.
In March, Bally’s Richmond Casino Resort, along with One Casino + Resort and Live! Casino & Hotel Richmond were the three names put forward that the city was considering to run the venue. But after many discussions with the three conducted by the City Council’s Evaluation Panel, it was decided that only the latter two would make the final cut as Bally’s was left out.
Currently, the Panel’s goal is to suggest an approved operator and site to the Council by the end of next month.
Leonard Sledge, director of Richmond’s Department of Economic Development, stated:
“We appreciate Bally’s interest to develop a resort casino project in Richmond. The Evaluation Panel is no longer considering the Bally’s project or the Parkway Crossings site for a resort casino due to concerns about site access, environmental factors, and required approvals from non-city entities that may not be granted or extend the project timeline. We also appreciate the many Richmond citizens who have shared their thoughts throughout this process.”
There were initially 6 proposals which the Panel reviewed, such as those from Wind Creek Hospitality, Pamunkey Indian Tribe & Reservation and some others, but only three of them made it to the March shortlist.
Back in February, Bally’s unveiled its proposal and claimed that the $650 million venue will span an area of 1.6 million square feet with a casino containing 90 table games, 2,500 slot machines, 30 poker tables and more… Some of the other amenities provided would have been a 250 room hotel, 13 dining venues, a sportsbook and conference area.
Just last week, the company stated that it will be providing all residents of the city with the chance to buy an equity interest in the resort.
Bally’s president and chief executive George Papanier explained:
“We are the best operator to partner with the City on this endeavour and provided the largest financial package with the most economic benefit to RVA residents and business owners. We were deeply committed to this project, as well as to becoming a responsible neighbour and member of the Richmond community. Though we stand by the fact that our bid was objectively the strongest, we respect the City’s decision, and look forward to providing our best-in-class online sports betting platform to sports fans across the State of Virginia under our recently awarded temporary sports wagering permit.”