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The development of a casino-hotel complex should be a minimum of two thousand new jobs and at least $ 31 million in new income for Richmond City in Virginia, after Scott Fisher and Suzanne P. Leckert of the New Orleans-based Convergence Strategy Group.
Fisher and Leckert, who have consulted on more than 400 gambling projects worldwide, offered their projections during a city council briefing last week, Richmond Free Press reports. The city uses them to help select the company to build and operate a gambling resort.
Six companies responded to the city’s call for proposals, five on the south side and one on the north side. Black-owned media company Urban One is one of the bidders for a location on the south side.
The advisors projected A casino should attract around 2.8 million visitors per year and generate between $ 320 million and $ 389 million in annual gaming revenue, depending on location and the level of competition from existing gaming establishments such as the Rosie facility in Richmond and the four other licensed casinos that are said to be in cities along the North Carolina border.
One element of competition is made illegal on July 1st – the so-called “skill game” slot machines Now set up in convenience stores, gas stations and other retail stores.
Fisher and Leckert tried to calm the city council down The casinos would be good community partners and would not cause any significant increase in social grievances, including gambling addiction and crime. According to the consultants, any disease would be relatively negligible based on a review of repeated studies in Las Vegas, Massachusetts and other cities and their own interviews with law enforcement in cities with casinos.
Fisher noted that the information indicates this About 1 percent of those who gamble are addicts in need of help. He reminded the council that the state will use part of casino tax revenues to provide programs to support problem gamblers.
Leckert and Fisher said the casino would give the city a financial shot in the arm. You estimated that tThe city’s share of state casino tax should be $ 19 million to $ 21 million a year in new revenue for the city’s general fund, with local real estate, personal property, meals, entrance and housing taxes that add $ 10 to 12 million more annually. And if Richmond bargains as well as Danville, the capital could get one $ 15 million to $ 20 million upfront from the winner and potentially gain another fraction of the gross income that will be used on top of the state tax that the city would be involved in.
By triggering the competition, “Richmond is in a great position” to win concessions, Ms. Leckert said. Amongst other things, The city could ensure that black and minority owned companies participate in construction and secure opportunities as a seller and that city dwellers are considered first for jobs. And there would be plenty of job opportunities, said the advisors. The casino resort hotel would be a Pipeline for skilled and unskilled jobs in a wide variety of fieldsThis ranges from management, computer technology and finance to custody services, customer service, security and operation of gaming tables.
Along with a casino that has concerts, restaurants, and hotel services that could encourage attendance, the advisors said Virtually every casino currently in operation donates $ 15 to 30 million annually benefit non-profit organizations and other organizations.