Boyd Gaming Breaks Ground on $750M Casino Resort in Virginia’s Norfolk

Posted on: October 30, 2024, 04:08h. 

Last updated on: October 30, 2024, 04:08h.

Devin O'Connor @CasinoorgDevinO Read More
Expertise: Asia Pacific Gaming, Commercial Gaming, Legislation, Politics.

On Wednesday, Boyd Gaming and its local development partner, the Pamunkey Indian Tribe, broke ground on a $750 million project — a quarter of a billion dollars more than the previous plan — that will bring a casino resort to the City of Norfolk in Virginia.

Boyd Gaming Norfolk casino Pamunkey
(L to R) Boyd Gaming CEO Keith Smith, Pamunkey Chief Robert Gray, U.S. Rep. Bobby Scott (D-VA), Virginia Sen. Angelia Williams Graves (D-Norfolk), and Norfolk Mayor Kenny Alexander (D) break ground on a $750 million casino on Wednesday, Oct. 30, 2024. The resort is being built along the Elizabeth Riverbank next to the city’s baseball stadium. (Image: WHRO Public Media)

After years of delay, the Pamunkey Tribe, Norfolk’s “exclusive gaming developer” since state lawmakers in 2020 passed legislation qualifying the Hampton Roads city for a commercial casino, has finally moved dirt. The complex is being built adjacent to the city’s Harbor Park Minor League Baseball stadium along the Elizabeth River.

The historic occasion came after the Pamunkey’s previous financier, billionaire Jon Yarbrough, agreed to sell his stake in the enterprise to Las Vegas-based Boyd.

In three short years, this site will be home to a $750 million entertainment and gaming destination that this entire community will be able to take pride in. A destination that will draw visitors from throughout the Mid-Atlantic region,” said Boyd Gaming CEO Keith Smith.

Pamunkey Chief Robert Gray said his tribe has historical ties to the Norfolk area dating back 10,000 years.

Our ancestors lived, hunted, fished, and traded in the Tidewater, Virginia, area. While the tribe has endured periods of adversity, those times have made us stronger. Today, we stand shoulder to shoulder with Norfolk to embark on a project that will lift up both of our communities.”

To demonstrate their commitment to the region, Boyd and the Pamunkey Tribe presented a $100,000 check to Norfolk State University to commemorate the casino resort’s groundbreaking.

Tribal Backstory

In 2018, seeking to strengthen its economic sovereignty, the Pamunkey people and Yarbrough partnered on a tribal casino project targeting the Norfolk area. After Norfolk was earmarked for a commercial casino, city officials and the tribe struck a deal to designate the tribe as its exclusive gaming developer to prevent two casinos in the city.

Yarbrough and the tribe, operating jointly as Golden Eagle Consulting II, LLC, encountered a series of challenges in getting its $500 million commercial casino resort called HeadWaters to construction.

Along with legal setbacks about where a temporary casino might operate, which mandated a series of design revisions, Congress’ $14 billion infrastructure bill signed by President Joe Biden in 2021 allocated almost $400 million in federal funding for the construction of a 17-foot-high seawall along the Elizabeth River. The seawall forced Yarbrough and the tribe to go back to the drawing board once again, as their casino plans had long included a riverfront hotel and marina where boaters could dock and patronize the resort.

Several months ago, Yarbrough agreed to sell his 80% stake in Golden Eagle to Boyd. With Boyd’s backing, the project quickly finalized its scope and the resort’s application swiftly moved through the various city agencies to gain approval to begin construction.

Forthcoming Casino

Boyd ditched the HeadWaters name for its casino venture with the Pamunkey Indian Tribe. No name was confirmed at today’s groundbreaking.

The $750 million project moving forward includes a 200-room hotel, eight bars and restaurants, a live entertainment venue, meeting space, a resort pool, a casino floor with 1,500 slot machines, 50 live dealer table games, and a sportsbook.

The development is expected to open a temporary pavilion gaming tent near the construction site as permitted by the 2020 casino bill.

Smoking will be allowed, as per Virginia law. A small group of hopeful casino workers rallied this morning near the groundbreaking to encourage Boyd to reconsider taking advantage of the indoor smoking loophole.