A proposed Norfolk, Virginia casino project has advanced to the next developmental stage after an almost two-year standstill, according to a local report. The HeadWaters Resort & Casino development will soon be discussed by the Norfolk Architectural Review Board.
The project stems from a partnership between Tennessee billionaire Jon Yarbrough and the Pamunkey Indian Tribe, which have collaborated to form the Pamumkey Indian Tribal Gaming Authority.
The duo will assume ownership of HeadWaters Resort & Casino once development is completed.
Voters in the city of Norfolk approved the casino’s construction nearly two years ago. However, the project has since experienced delays.
HeadWaters spokesperson Jay Smith told 10 On Your Side that meeting before the review board is a necessary step in resuming construction and noted that plan will closely follow what city residents approved.
He said, “We are following the city’s plan to a T. This is the next step.”
Smith went on to add that the City Council will need to give the project the green light before construction can begin, with a Phase 1 taking between 12 and 14 months to complete.
The estimated cost for Phase 1 could reach close to $150m, the local report said. Upon completion, nearly 1,000 gaming positions will be available to Norfolk players, as well as a sports bar and a lobby, Smith said.
Developers estimate the entire casino project could cost about $500m. The destination will be home to a hotel, along with a pool and cabanas that overlook the Tides.
Smith concluded by discussing the long-term goals for the casino. He said, “Our goal is to generate as much revenue for the city of Norfolk as soon as possible.”
