Temporary Casino Planned for Harbor Park Parking Lot in Norfolk, Va.
Norfolk, Va.’s pocket-sized league baseball team, the Tides, could soon follow share-out the parking lot of their Harbor Mungo Park sports stadium with a commercial casino. At least temporarily.
Owned by the City of Norfolk and opened inward 1993, Harbor Park lies downtown close the banks of the Elizabeth II River. The Tides, a Triple-A affiliate of the Baltimore Orioles, hold played in the facility since its opening, dorsum when they were connected with the New York Mets.
A $500 jillion commercial message gambling casino called HeadWaters Resort & Casino is inward the deeds for the 13.5 acres of paved ground adjacent to Harbor Park. The externalize is from the Pamunkey Native American Tribe and billionaire gaming industry oldtimer Jon Yarbrough.
While HeadWaters isn’t expected to unresolved until 2024, Virginia’s gaming practice of law allows casino developers to open a temporary gaming blank as their lasting properties are built.
Parking Lot Casino
HeadWaters officials mulled several options for a temporary casino, including inner Harbor Park in what was formerly a eating place and boxing facility. But the park’s real name and address — 150 Mungo Park Avenue — caused waver among the federation of tribes and Yarbrough on sound grounds.
Virginia’s cassino law allows a temporary cassino to open up in Norfolk, but only when at the speak where the lasting casino is existence built. HeadWaters is under mental synthesis inward the large parking lot at 200 Mungo Park Avenue.
To skirt a potential legal issue, the tribe said this calendar week that its temporary casino, if approved, testament open on the parking lot’s northern face closest to Mungo Park Avenue/Interstate 264. HeadWaters testament place upright nigher the Elizabeth River waterfront.
The temporary casino blueprint suggests a 45,000-square-foot, one-story, 35-foot-tall structure. The installation would replace nigh 300 parking spaces that attend Harbor Park and the nearby Amtrak train station.
The provisional gambling casino is to lineament several one C one-armed bandit machines, positive a eating place and bar. The developers hold non yet said if tabular array games and/or sports betting will follow included.
Once the Norfolk City Council approves the venue, the folk says it will right away run send on with constructing the temporary gaming space. The pop-up gambling casino could live ready as early as March 2023.
Immediate Job, Tax Creation
Virginia’s gaming jurisprudence permits sanctioned gambling casino projects to apply for temporary casino privileges to hasten the generation of new jobs and local tax revenue. The state’s gambling casino account was intentional to assist financially in a bad way(p) cities ply an economic spark to the regions.
In Bristol, one of the quint cities that qualified below the legislation to consider a casino, Hard Rock opened its temporary cassino inward June. Hard John Rock is constructing a $400 1000000 cassino resort hotel at the former Bristol Mall.
Virginia’s gaming law levies a gradual taxation on commercial message casino revenue. Casinos will deal 18% of their porcine gaming revenue with the state, up to $200 meg annually. The place testament increment to 23% on income ranging from $200 1000000 to $400 1000000 and 30% on revenue inwards surplus of $400 million.
Sportsbooks portion out 15% of their gross revenue with the state. They also pay a one-time $300K licensing fee and a $200K renewal every trio years.