Posted on: September 15, 2021, 08:18h.
Final up to date on: September 15, 2021, 08:18h.
A Virginia gaming resort proposal with a recommended growth value of $389 million made regulatory progress this week in Dumfries.
The Colonial Downs Group, which owns its namesake horse racetrack in New Kent County, needs to redevelop 93.5 acres of the Potomac Landfill right into a gaming resort vacation spot dubbed The Rose. The blueprint, inclusive of two growth phases, features a gaming ground with 1,800 gaming positions and sportsbook, 305-room lodge, 40,000-square-foot leisure venue, and quite a few eating places.
On Monday, the Dumfries Planning Fee voted unanimously 5-Zero in approving the venture. A public listening to has been subsequently scheduled for September 21, which will probably be streamed on-line.
The Planning Fee’s help adopted an in-depth overview of the endeavor that concluded that the resort could be a web constructive for the city and area.
The proposal as submitted or as modified is not going to have an effect on adversely the well being, security, or welfare of individuals residing or working within the neighborhood of the proposed use; and won’t be detrimental to public welfare or injurious to the property or enhancements within the neighborhood,” Dumfries city planning employees concluded.
Dumfries is a small city with a inhabitants of roughly 5,000 residents. The Potomac Landfill has lengthy been scorned by residents, and the homeowners of the location have agreed to promote the land to Colonial Downs ought to its gaming ambitions be absolutely authorised.
Previous Racing Saves Future
The Colonial Downs Group is owned by a gaggle of Chicago-based traders who agreed to buy the shuttered Colonial Downs Racetrack for some $20 million in April of 2018.
The deal was conditioned on Virginia legalizing historic horse racing (HHR) machines. HHR terminals mimic conventional on line casino slot machines, however differ in that their outcomes should not random, however as an alternative based mostly on beforehand run horse races.
Colonial Downs explains of HHRs:
“HHR is a real pari-mutuel wagering system that’s delivered to the client in an entertaining video expertise.
The definition of pari-mutuel is the operator doesn’t have a stake within the consequence of the wager and the web pool is returned to the gamers. The cabinetry seems to be like a conventional recreation however it capabilities the identical as putting a wager at an OTB Kiosk and the outcomes are displayed as each a graphical illustration of a previous horse races and one other display gives animation just like conventional video games.”
To justify the Colonial Downs Racetrack acquisition, the traders sought — and gained — approval to function HHR gaming venues all through Virginia. Underneath its Rosie’s Gaming Emporium model, the corporate right this moment has gaming parlors in Hampton, New Kent, Richmond, Vinton, and Collinsville.
The Rosie’s Gaming Emporiums have resulted in stay racing resuming at Colonial Downs, as a part of the gaming receipts go in direction of funding horse purses.
Virginia ended its lengthy opposition to casinos final 12 months when Gov. Ralph Northam (D) signed laws permitting residents in 5 economically troubled cities to determine by way of a poll referendum whether or not to authorize a single gaming resort to spur enterprise progress.
Casinos have been authorised in Bristol, Danville, Norfolk, and Portsmouth. Voters in Richmond will determine a casino proposal’s fate this fall.
The 4 casinos in growth will function slot machines and desk video games, in addition to sports activities betting. Colonial Downs’ The Rose would profit towards the extra expansive casinos by being situated within the Nationwide Capital Area, generally known as the DMV, an abbreviation for the intersection of DC, Maryland, and Virginia.
Although solely 5,000 individuals stay in Dumfries, the Washington DC metro is residence to some 6.three million individuals.