The Virginia Lottery Board granted Hard Rock International, a popular American casino operator, a betting license for the $400 million Hard Rock Hotel and Casino Bristol that it is currently developing.
Last Wednesday’s report from VirginiaBusiness.com states that the Board’s decision to approve the Seminole Tribe of Florida’s license application will enable it to set up a 30,000 square feet temporary casino.
It will have 21 gaming tables and 870 slots in the same venue from July 8. The Bristol Casino: Future Home of Hard Rock site will also have a Hard Rock merchandise store, two sports bars, and a restaurant. A permanent Hard Rock Hotel and Casino Bristol will eventually replace it.
The Project’s Timeline
The latest reports show that Hard Rock International currently runs 12 casinos in the United States, such as the Hard Rock Hotel and Casino Atlantic City enterprise.
A local referendum gave it the green light to work on its Hard Rock Hotel and Casino Bristol scheme in Southern Virginia in November 2020.
The casino operator plans to launch the Vegas-style casino in the summer of 2024. It will have a 90,000 square feet gaming floor, a 25,000 square feet bookmaker, a hotel with 1,000 rooms, and 50 food and retail outlets.
The Operator’s Rewarding Recruitment
Jon Lucas is Hard Rock International’s Chief Operating Officer. He issued a statement that indicates that the Hard Rock Hotel and Casino Bristol will feature a 3,200-seat performance venue and a 20,000-seat outdoor entertainment venue.
The official further stated that the casino operator has already employed 100 workers for its Virginia scheme, and most of them will start working 30 to 45 days after the launching of its temporary casino.
The gaming provider was excited after the Virginia Lottery Board approved its scheme and issued it a license. It will be the first company to set up a casino in Bristol once it completes all operational activities.
Hard Rock International appreciates the aid that the Board granted it as it has worked with it for many months before reaching Bristol’s important milestone. It will aid Southwest Virginia and the rest of the commonwealth.
The Sanction
Hard Rock Hotel and Casino Bristol’s license is the first that the state’s Lottery Board has awarded since its lawmakers passed the law in April 2020 granting Bristol, Danville, Portsmouth, Norfolk, and Richmond the permission to have huge casino resorts provided their local communities have voted them in individual referendums.
Ferhan Hamid, the Virginia Lottery Board’s Chairman, claimed that the body is committed to the ongoing campaign as it ensures that all casinos are responsible and operate with integrity. He released a statement stating that the recent approval shows the confidence of the Board in the thorough review that its staff conducted.
Anthony Farnum, Bristol Virginia’s Mayor, has consistently supported the casino project. He stated on Wednesday that it is a huge achievement for Bristol to host its first casino as it will create many job opportunities. Besides, it will play a key role in popularizing Southwest Virginia.
John Eder, Hard Rock’s Chief Financial Officer, told the Lottery Board that the involved parties have raised $130 million in cash and will borrow the remaining amount. He added that the company might consider the bond market as two leading financial rating agencies have granted it investment-grade ratings.
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