Posted on: Apr 28, 2022 8:13 am.
Last updated on: Apr 28, 2022 8:13 am.
Hard Rock Bristol has received the first commercial casino license ever issued in Virginia.
Jim McGlothlin (left) and Clyde Stacey grew up together and later found success in the coal industry. The two Virginia businessmen led the Richmond legislative prosecution to legalize commercial casinos in the Commonwealth. Hard Rock Bristol, which they have a stake in, is the first of four casino projects to receive a gaming license. (Image: Virginia Business)
Just a decade ago it seemed unimaginable that Virginia would legalize commercial casinos. The state had long opposed most forms of gambling – the notable exception being the state lottery.
That changed in 2020 when the Virginia General Assembly approved and then-Governor Ralph Northam (D) enacted House Bill 4. The law sanctioned commercial casinos in economically troubled cities that met certain qualifying criteria.
Legalization was initially spearheaded by Virginia businessmen Jim McGlothlin and Clyde Stacy. The coal magnates applied for government approval to bring a casino to their hometown of Bristol to revitalize the local economy and breathe new life into the closed Bristol Mall.
The businessmen eventually convinced the state legislature and Northam. The bill also granted a single casino opportunity for Richmond, Norfolk, Portsmouth and Danville. These cities also met qualifying benchmarks, such as an unemployment rate of at least 5% in 2018, a poverty rate of at least 20% in 2017, and a population decline of at least 20% from 1990 to 2016.
made history
HB 4 requested that a casino be formally approved for only the five qualifying cities through a local ballot referendum declaring city residents’ support for the gambling initiative. Only Richmond voters turned down their casino opportunity.
Casino projects in Bristol, Danville, Norfolk and Portsmouth are progressing. And Bristol is the first to receive the blessing of the Virginia Lottery Board, which oversees expanded gambling.
Since passage by the 2020 General Assembly, the Board’s priority for casino gaming in the Commonwealth has been that it be conducted with integrity and in a responsible manner,” Virginia Lottery Board Chairman Ferhan Hamid said in granting his gaming license to Hard Rock Bristol. “Today’s approval reflects the confidence we have in the rigorous and diligent review conducted by Virginia Lottery staff.”
Ferhan added that board officials will be on site at the casino site over the next few months to monitor receipt of gaming devices and oversee internal controls to ensure full compliance with the state’s new industry.
Temporary Casino Details
Hard Rock Bristol is a $300 million project that will convert part of the Bristol Mall into a casino resort. The project also includes the construction of a hotel tower.
While the finished project isn’t expected until sometime in 2025, Hard Rock Bristol plans to open a temporary casino this July with 900 slots, 20 table games and a sportsbook. The 30,000 square meter space will occupy part of the former shopping center that has been vacant since 2017. The pop-up casino will replace the former Belk department store.
As for the permanent resort, the plan includes a casino with 2,700 slot machines, 100 table games and a sportsbook, a 750-room hotel, and seven restaurants and four bars. An on-site concert hall with a capacity for 3,200 people and an outdoor venue built to accommodate 20,000 people are also included.
The resort destination also plans to incorporate a spa, retail outlets, a Hard Rock Cafe and 50,000 square feet of convention space.