The operators of the proposed new casino in Danville have entered into an agreement with a nationally recognized casino brand.
Golden Nugget Online Gaming, Inc. has secured a joint agreement with Danville Development, LLC for market access into Illinois through the proposed Danville casino for online sports waging. Under the agreement, the new casino would bear the name “Golden Nugget” after the other, well-known Las Vegas casino. The Golden Nugget Danville will also feature a Landry’s Steakhouse.
Mayor Rickey Williams Jr. tells Vermilion County First News that the announcement is “phenomenal news” for Danville.
“This is phenomenal for Danville and Vermilion County,” he says. “To have a, not nationally known, but internationally known company partnering with the Wilmots to bring us a first-class casino is just phenomenal news.”
Under the agreement, Golden Nugget holds the exclusive right to offer online sports wagering and, if permitted by law in the future, online casino wagering. In addition, the firm has committed to provide a mezzanine loan in the amount of $30 million to Danville Development for the development and construction of the casino. The market access agreement is for a term of 20 years and requires Golden Nugget to pay Danville Development a percentage of its online net gaming revenue, subject to minimum royalty payments over the term.
Williams says the casino application will be submitted to the Illinois Gaming Board today. He adds that the steakhouse would be able to draw in customers who don’t want to gamble.
“Having a fantastic steakhouse like that here in town will be great for everyone,” he explains. “I imagine lots of people, even if they don’t gamble, will go there to eat on a regular basis.”
The Illinois Gaming Board has delayed its casino approval process due to the COVID-19 pandemic, and it could take until May or June for a casino license to be approved by the board. Tinisha Spain, the interim president of Vermilion Advantage, says it’s a great thing to know what to look forward to.
“Even coming on the heels of the announcement that there would be a delay, it’s great that they’re still making there partnerships in the background, so that when we do get the final word, we’ll be ready to move,” Spain says.
The Danville casino will join other Golden Nugget casinos around the country, including Las Vegas and Atlantic City.
