![]() McGlothlin told the Bristol Herald Courier last September in announcing the project. Clyde and myself are going to put all the money up for this,” James W. “Not one dollar is coming from the city of Bristol, the state of Virginia or the federal government. But in this case, the Bristol casino backers are funding the project themselves. Loans, subsidies, loan guarantees, whatever. When developers spin a fantasy vision of jobs and tax revenues, there’s always a hook - all they need is a little support from government. Normally, I would be highly skeptical of a project like this. The project would generate $30 million annual tax revenue for the hard-pressed locality.Īll the backers need is for the General Assembly to rescind its ban on casino gambling in Virginia. ![]() ![]() ![]() The backers assert that the Bristol Resort and Casino would create an estimated 2,000 jobs initially, growing to 5,000 eventually, and paying an average salary of $46,000. The City of Bristol, having mortgaged its future with a failed mall development project, is betting on another big-ticket project: a proposed $150 million casino with accompanying hotels, conference center, retail, and restaurants built at the failed mall location. Jim McGlothlin (right) talks about his proposed casino project. ![]()
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