Bally’s Corporation has submitted a proposal to operate the new proposed casino in Richmond, Virginia.

The proposal would see the operator develop and run the casino which would be named ‘Bally’s Richmond Casino Resort’ with construction of the venue estimated to cost $650m, which includes a one-time $100m upfront payment to the city of Richmond upon selection.

If selected, the construction would take approximately 18 months with the anticipated opening of the casino slated for 2024. The operator believes the property will attract 3.7m visitors annually while creating more than 2,000 jobs and would generate $415m in annual total gross revenue.

The resort would pan more than 1.6m square feet and include a casino, sportsbook, hotel, resort-style pool, dining and retail outlets, along with space for live entertainment and conferences.

The operator mentioned to ensure the project presents opportunities for the local community, it has entered into partnerships with multiple Richmond leaders, including the Lanier family, the Darrell Green Youth Foundation and the founder of Thompson Hospitality, Warren Thompson.

Bally’s proposed construction site is located north of Powhite Parkway on the western border of Richmond, stating the central location “will make the Bally’s Richmond an attractive destination” providing transit access and connectivity to downtown Richmond.

Bally’s president and CEO George Papanier said: "Our proposal represents an unprecedented project for the Richmond community that will embrace and showcase the city's existing culture and traditions in an environment positioned towards entertainment and leisure. The Bally's Richmond would provide the city with a vibrant new attraction that is sure to turn Richmond into a dynamic tourist destination."