Norfolk Casino Groundbreaking Set for Halloween Eve

On Halloween Eve, the Pamunkey Indian Tribe and Boyd Gaming will officially break ground on a permanent casino on the Norfolk waterfront, a project eagerly anticipated since the city’s voters approved casino gaming nearly five years ago. Scheduled for October 30, this groundbreaking signifies a major step forward in expanding Virginia's casino market, which has seen rapid development since legislation permitting casinos was enacted in 2020. The excitement surrounding this event reflects not only local anticipation but also the potential for economic revitalization in the region.

Pamunkey Chief Robert Gray expressed enthusiasm about the project, stating, “We feel very comfortable and we’re just excited to be able to bring the project to fruition for the city and the Commonwealth and the Tribe.” This sentiment resonates deeply within the community, where the new casino is poised to enhance the local economy, provide job opportunities, and offer diverse entertainment options for residents and visitors alike. The involvement of both the Pamunkey Tribe and Boyd Gaming underscores a collaborative effort to ensure the project meets the needs and aspirations of the Norfolk community.

The Norfolk casino represents the fourth of five approved by voters in various Virginia cities, marking a significant milestone in the state’s gaming landscape. The 2020 voter approval included a deadline stipulating that gaming operations must commence by November 2025, emphasizing the urgency of moving forward with construction. To meet this timeline, the Pamunkey Tribe and Boyd Gaming plan to construct a temporary casino that will begin operations prior to the deadline, mirroring a strategy seen in Danville, where a temporary facility is operating until the permanent Caesars Virginia casino opens. This dual approach highlights a commitment to ensuring that the community benefits from gaming revenue as soon as possible.

The permanent Norfolk casino is slated to feature an impressive array of amenities, including 1,500 slot machines, 50 table games, a hotel with 200 rooms, and eight restaurants. This comprehensive offering is expected to attract both locals and tourists, bolstering the city’s position as a gaming destination. Moreover, the casino's design and amenities aim to create a vibrant atmosphere that encourages social interaction and entertainment, further enriching the cultural fabric of Norfolk.

The Growing Virginia Casino Market

Virginia's foray into the casino industry is relatively recent, with lawmakers approving casinos in 2020. The state has limited gaming to five cities: Bristol, Danville, Norfolk, Portsmouth, and Richmond, a strategic decision aimed at local economic development. To date, casinos in Bristol, Danville, and Portsmouth have opened their doors, collectively generating $56.6 million in adjusted gaming revenue in September alone. Rivers Casino Portsmouth led the pack with $24.2 million, followed by Caesars Virginia with $18.3 million and Hard Rock Bristol at $14.1 million. These figures indicate a burgeoning interest in gaming within the state, setting a solid foundation for future growth.

The introduction of the Norfolk casino could significantly impact the state’s overall gaming revenue, although its proximity to Rivers Casino Portsmouth poses potential challenges. Located just a 15-minute drive away, the new casino may cannibalize some of Rivers Casino's revenue, while also limiting its own earnings potential. This competitive dynamic will require careful market analysis and strategic planning to ensure that both venues can coexist and thrive in the same region.

Estimates suggest that Norfolk's casino could generate over $15 million monthly, contributing to an impressive total that could push Virginia's casino revenue past $65 million in peak months like September. However, the competitive landscape will require strategic marketing and unique offerings to differentiate the new venue from its nearby counterpart, ensuring it captures the attention of a diverse audience eager for new experiences.

 

We feel very comfortable and we’re just excited to be able to bring the project to fruition for the city and the Commonwealth and the Tribe.

 

Looking Ahead

As the October 30 groundbreaking approaches, the anticipation builds not just for the Pamunkey Tribe and Boyd Gaming but for the entire Norfolk community. The casino’s establishment is expected to create jobs, stimulate local businesses, and provide much-needed tax revenue for the city and state. Furthermore, this project symbolizes a shift in the local economy, as entertainment options expand and attract visitors from outside the region.

While the imminent opening of a temporary casino will allow Norfolk to meet its deadlines and begin generating revenue, the long-term success of the permanent facility will depend on its ability to attract a steady flow of patrons. With a growing demand for entertainment and leisure options, Norfolk’s casino is positioned to play a pivotal role in Virginia’s evolving gaming market, setting the stage for what promises to be an exciting chapter in the Commonwealth's economic development.