New Casino in Virginia Could Come With a Sports Arena

Article by : Erik Gibbs Mar 28, 2024

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Virginia Governor Glenn Youngkin’s plan to build a $2 billion arena for the Washington Capitals and Wizards in Alexandria faces a challenge. Three influential figures proposed an alternative, suggesting pairing the arena with a new casino in Fairfax County instead of using taxpayer-backed bonds.

However, Governor Youngkin and Monumental Sports & Entertainment rejected the idea, sticking to the original plan despite hurdles in the General Assembly. The concept of a casino in Northern Virginia has faced opposition, leading to the postponement of its consideration.

Despite this, the proponents of the casino-arena idea believe it could revitalize both projects and address concerns about the state’s financial stability, aiming to garner support even from vocal opponents like Senator L. Louise Lucas.

Lucas, a supporter of Virginia’s gambling industry, was surprised to hear about the plan to link the arena and casino from Senate Majority Leader Scott A. Surovell (D-Fairfax) while he was in Poland. She admitted to lacking enough information to form an opinion.

Even though the original deal faced challenges, there’s a last-minute effort to salvage it. Governor Youngkin is determined to proceed with the project and aims to reintroduce it during the General Assembly’s return.

In an attempt to gain Democratic support, the project’s developer, JBG Smith, pledged to double its commitment to affordable housing near the site.

Surovell’s recent revelation unveiled his proposal of integrating a casino with the arena project to Monica Dixon, Monumental’s president of external affairs, about a week ago. However, Dixon promptly dismissed the idea, prompting Surovell to abandon it.

The casino concept aimed to utilize its tax revenue to support the arena bonds instead of relying on the state’s general fund.

Despite Surovell’s efforts, Monumental remained unreceptive to the idea, as Dixon confirmed. She reiterated Monumental’s commitment to their Potomac Yard proposal and expressed hope for its fair consideration despite recent setbacks.

Nevertheless, Christopher Clemente, chief executive of Comstock, the company interested in handling the casino construction, and Ben Tribbett, a political and business consultant, persisted in advocating for the casino-arena concept.

Clemente directly presented the idea to Monumental owner Ted Leonsis and Matt Kelly, CEO of JBG Smith, the arena’s prospective developer.

Tribbett also engaged in discussions with Dixon regarding the proposal, according to a Monumental spokesman.

Kelly criticized the proposal to link the Potomac Yard arena with a casino, condemning it as ill-conceived and lacking consultation with Monumental.

Meanwhile, Tribbett, who advises Lucas, who has hindered the arena project, and represents Clemente’s casino bid, defended his dual role, asserting that advocating for clients with conflicting interests is not problematic.