A Stimulus for Richmond
Bally’s community-first culture is a fundamental component of our operating philosophy. Our vision for the Bally’s Richmond Casino Resort is a world class destination that serves as an economic engine for the Richmond community, transforming it into a tourist destination that supports the growth and development of small and emerging businesses. This project will provide the City with a significant stimulus via new sources of funding, new jobs, tourism growth and much more.
Supporting Richmond’s Economic Development
Our proposal provides the most generous financial package to the City that is intended to support local businesses and minority organizations while driving job creation and sustained economic opportunities for the Richmond community:
Payment AND ONGOING REVENUE STREAM
Our proposal starts with an upfront, unrestricted $100 million payment to the City, plus an ongoing revenue stream, as part of the total all-in project value of $650 million.
The project is expected to create 4,300 construction jobs and more than 2,000 permanent jobs upon completion.
Avg. Annual Wage
The permanent jobs we create will begin with a $52,000 annual wage, which far exceeds a $15/hr rate threshold. No employee will earn less than $15/hr.
30% / 40%
We have set goals for minority business participation of 30% for construction and up to 40% for professional services.
We plan to leverage our 15+ million player database to attract visitors and drive Richmond’s evolution to become a tourist destination.
By 2026, we estimate Bally’s Richmond will bring 3.7 million visitors each year to the Richmond area.
We estimate that Bally’s Richmond will generate $5.3 billion in economic value for the Richmond community over a 10-year period.
Reinvesting in Richmond – The “Richmond Rewards” Program
Incentivizing Players and Guests to Support Local Businesses
A hallmark of the Bally’s Richmond will be “Richmond Rewards” – a unique, interactive program that will incentivize players and guests to redeem the rewards they earn at local retailers.
- Working with our local partners, we will solicit small businesses within the Richmond area to join this innovative program and will work with participating organizations to offer the best array of rewards.
- Players and guests will be able to view participating businesses and their products through a virtual mall located inside of the casino as well as a virtual store that is easily accessible from mobile devices.
- The program is estimated to grow Richmond’s economy by $30 million in economic activity and spending annually, and create 289 new jobs for local residents.
- Bally’s has successfully implemented similar rewards programs in a number of cities across the U.S.
- The “Richmond Rewards” program represents an innovative opportunity for the casino, its players and local, participating businesses.
- To view more information about the “Richmond Rewards” program click here.
- If you are interested in learning more, contact us today at email@example.com.
Additional Engagement Plans
Delivering On Our Community-First Approach
- Local HBCU Support: We will work with historically Black colleges and universities to provide education and training opportunities, internship programs and prospects for long-term employment.
- Career Advancement: To promote careers within the hospitality industry, we will provide a rotational management training program, job-shadowing workshops and opportunities to local students and individuals.
- Sponsorships: We will sponsor the work and local charitable organizations of our minority investor partners.
- Tourism Promotion: Leveraging the Bally’s Richmond and its state-of-the-art visitor center, we will drive traffic to the greater Richmond area, transforming the City into a tourist destination.
- Ongoing Collaboration with The City of Richmond: We will work with the City of Richmond and local organizations so they have a voice in the project and future opportunities it will create.