Casino

Planned $150m Bristol Resort and Casino Needs Law Change to Become Reality

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A new $150m resort casino is being planned for the Bristol area of Virginia, USA, and its backers claim it could have a “transformative” effect on the economy of the city, region and the state. However, only a change in state law will allow it to become reality.

The Bristol Resort and Casino has been proposed by Southwest Virginia business leaders, Jim McGlothlin and Clyde Stacey with the latter’s company, Par Ventures LLC, acquiring the land in June of this year. The casino is planned to be situated on a 100,000 square-foot area part of the 49-acre site, formerly the home of the Bristol Mall that closed 13 months ago.

The project also includes family-friendly attractions, a sports betting property, 50 stores/restaurants and a hotel with 600-1000 rooms.

Mr McGlothlin commented that the project “is our chance at a ‘moon-shot’ and would give residents “a bright and secure future.”  His business partner feels the Bristol Resort and Casino “would benefit the entire region.” He stressed that they were not looking for any government support and their plan is “to build it all with private dollars.”

It’s all down to the Lawmakers

Virginia does not at present allow casino gambling, but does have a state-run lottery and allows off-track betting and horse racing at four venues. The nearest casino is Harrah’s Cherokee Casino Resort in North Carolina, which is 130 miles away.

The two businessmen stress that the project will be built “all with private dollars” but will need the state law to be amended before it can go ahead. Stacy says that the legislators “appear to be in favour” but stress the project “must have local support.” A resolution of support to the project is set for September 11.

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