Plans to build a casino in Norfolk have been adjusted again
In 2020, Norfolk residents voted in favor of a referendum to build a casino. Since then, a host of adjustments have been made, causing significant delays. This week, members of the Pamanca Tribe voiced their displeasure again. They decided to push back the deadline for processing the land purchase deal for construction to 2025.
What’s the problem?
The company that decided to invest in the construction is extremely unhappy with yet another delay. For the past three years, there have been some problems continuously. And this happens at a time when the market is actively filled by competitors—many not only open land-based establishments, but also their virtual gambling halls. The latter are particularly popular for many reasons, including an abundance of exciting games.
The variety of games in online casinos is really great. The most popular ones are crash games and especially Jet-X. Our authors found this out after analyzing online casino review sites. The biggest one is site Jet-x-game.com, where we found the most information about online casinos with Jet-X. Such games attract millions of players. And many casinos have high market positions thanks to their catalog of gambling arcades.
Obviously, the iGaming market is growing. But along with it, the attendance of land-based casinos is also growing. People want to visit these places, especially if they are close to home. That’s why Indian tribes are opening casinos in different regions of the US. And delays in addressing these challenges are costing significant losses.
But there is some good news. Contractually, this is the last possible extension of the deal. So in January 2025 there will be no more obstacles and the second party will have to sign all the agreements.
Under the project, Indian tribal representatives will purchase 13 acres of land next to Harbor Park at a cost of 10 million dollars. It is assumed that a casino in the form of a resort area will be built on the vacant lot. Investors are ready to invest 500 million dollars in the project.
Why not worry about delays?
Starting in 2019, the Virginia General Assembly passed a bill that allows residents to hold referendums where anyone can vote for or against building a casino. Voters have already approved gambling facilities in Bristol, Portsmouth, Norfolk and Danville. Richmond residents, on the other hand, disagreed with such a proposal and rejected casinos.
The three cities have either already built casinos or are building them, but Norfolk has been experiencing some kind of constant delays. According to some reports, the three casinos alone would bring in $52 million dollars in revenue in 2024.
Negotiations with representatives of the Pamanca Tribe
The original plan was to build a temporary casino. While it was in operation, the construction company was supposed to finish building the resort. But that plan was abandoned because city officials were against it.
The tribe and Golden Eagle Consulting II are the companies that will be building the HeadWaters Resort & Casino. The project is not among the most significant and interesting, but many people are still watching its realization.
Representatives of the company are trying their best to put pressure on the authorities to allow them to start building the casino first, and then to develop the resort area around it. Therefore it was decided to prolong the negotiations. The planners are going to present an updated plan, which may please both residents and authorities. Meanwhile, the delays only bring losses to both the city budget and construction companies.