NORFOLK, Va. — Is Norfolk ready to roll the dice and put in a casino next to Harbor Park?
After years of talk between the Norfolk and the Pamunkey Indian Tribe, we're learning there may be a new casino operator entering the mix.
Watch: Latest renderings for new Norfolk casino on display for City Hall meeting
Renderings of the casino were released in August. They show the estimated $500 million, 90,000 square foot facility, though the design does not yet have city approval.
If it goes forward, the building would be constructed on city-owned land between Harbor Park and the Amtrak station.
Some who live nearby said they'd stop in.
"I think it's a good idea and something for people to do," said Norfolk resident Percy Tucker. "I feel it's long over due."
Watch: Boyd Gaming joins the Pamunkey Indian Tribe in bringing a casino resort to Norfolk
Residents told News 3 they believe the build will eventually happen, especially since the Tribe is now set to get some help from a major, Nevada-based casino operator Boyd Gaming.
Boyd Gaming is set to step in as a majority owner for the company, Golden Eagle Consulting, which oversees development. The Tribe is also set to take at least 20% equity stake in Golden Eagle.
Boyd Gaming and the Pamunkey Indian Tribe shared this statement:
"The Pamunkey Indian Tribe has been working to develop a casino resort in Norfolk for the last several years. Boyd Gaming has started the process required to help the Tribe bring its vision to fruition, in a way that will deliver meaningful benefits for the Tribe, the City of Norfolk and the Commonwealth of Virginia."
Casino construction was approved by Norfolk voters in 2020. That came with deadline of 2025.
Watch: Proposed Norfolk resort & casino one step closer to becoming reality
To meet the timeline, a proposed development agreement outlines a possible solution. It proposes putting in a temporary casino which could be operated while a permanent facility is under construction. Voters would need to weigh in again if the developer doesn't get a gaming license in time.
After all the delays, News 3 asked Norfolk city leaders how confident they are in the casino being constructed.
"[I am] more confident than I have ever been," said Norfolk councilman JP Paige. He represents the area in which the casino could be built.
Paige, and other city leaders, are pleased to see Boyd Gaming entering the picture.
Watch: Letters detail changing direction Norfolk provided to proposed casino developer
"We want to be in this for the long haul. I think we're spot on at this time. I think Boyd brings what it is that we've been missing which is the best possible team for the city of Norfolk," said Paige.
Norfolk Mayor Kenny Alexander also shared a statement with News 3:
“I am thrilled to announce that our journey to bring a casino project to the Harbor Park Entertainment District has reached a major milestone. After passing a local gaming referendum in 2020, we have found the perfect partners to make this vision a reality. Boyd Gaming Corporation, in collaboration with the Pamunkey Indian Tribe, will bring a world-class hotel resort casino to Norfolk.
This project will be a game-changer for our city, attracting visitors and residents alike, and driving significant private investment. It will generate millions in ongoing revenue, enabling us to invest in vital priorities. New short- and long-term jobs and workforce development opportunities will also arise, further boosting our local economy.
As we solidify Norfolk's position as a premier tourist destination, this resort casino will enhance our developing landscape. It will revitalize our waterfront, increase hotel and convention capacity, and attract cruise ship and Amtrak passengers. Our city's reputation as the arts and cultural hub of the region will be further enriched by this exciting new entertainment option.”
Watch: Potential new casino in Norfolk highlights benefits for numerous parties
If the casino is constructed, CNU economics professor Dr. Rik Chakraborti weighed in on how it may impact the economy and competition with other nearby casinos.
"I don't really see competition lowering the revenues in any way. Another thing to keep in mind, there may be some cases where people go to this casino or that one but they're both spending locally, right? So it is the broader Hampton Roads area, the Tidewater area, that's getting a boost," said Dr. Chakraborti. "I'm not that concerned [with competition] because I think Portsmouth, Norfolk and then Richmond, if one comes in to Richmond, are spread out far enough. So I don't think these are substitutes as much as they are compliments given the location separation."
Norfolk City Council is scheduled to vote on an ordinance that would amend the purchase and development agreement on Sept.10.
