In a move that signals continued growth, the partners behind the Bristol casino in Virginia have acquired a 13-acre property across from the casino site. The land, purchased for $7 million, is currently being used for employee parking but is expected to play a key role in future expansion plans.
This purchase, finalized on September 6, was made by Exit 1 Development LLC, which is a joint venture between the United Company and Par Ventures, the founding partners of the casino project. The land, located at the corner of Catherine Street and Gate City Highway, was originally assessed at $1.52 million but was secured for significantly more.
Preparing for Future Growth
The land’s primary function at the moment is to accommodate parking for casino employees. However, the reason behind the purchase goes beyond immediate needs. Andy Poarch, a spokesperson for the casino, emphasized that the acquisition is part of a long-term strategy to ensure the casino’s ability to meet future demands for expansion.
“We wanted to be proactive in securing the property, preparing for future growth opportunities,” Poarch said in a statement. This forward-thinking approach reflects the partners’ intent to maintain flexibility as the casino and its surrounding developments continue to grow.
Strategic Location Near Bristol Casino
The site’s proximity to the Bristol casino, which has become a major local attraction since its opening, positions the property as a valuable asset. Having land adjacent to the casino gives the partners significant potential for future development, whether for new entertainment spaces, hotel facilities, or additional parking areas.
The strategic purchase also highlights the growing confidence in the future of the Virginia casino market. As competition among regional casinos intensifies, being able to expand quickly and effectively can be a crucial advantage. The purchase of this land is seen as an essential step to stay ahead of potential capacity challenges as the casino attracts more visitors.
Community Impact and Local Interest
The casino project has already brought substantial economic benefits to the region, including job creation and increased tourism. The addition of this 13-acre site further solidifies the Bristol area as a hub for entertainment and commerce.
The local community has shown strong interest in the development, with the land purchase generating buzz about potential new job opportunities and the possibility of more facilities that could enhance the visitor experience. As the region’s first major commercial casino, the Bristol property continues to shape the economic landscape of southwest Virginia.
Looking Toward a Bright Future
While details about specific future plans for the new land have not been disclosed, the acquisition signals the partners’ readiness to expand as the demand for casino services continues to rise. The Bristol casino has already become a centerpiece for the region’s economy, and with the strategic purchase of this land, it seems poised for even more growth.
As for the immediate future, the property’s use as employee parking allows for efficient operations while ensuring the partners are prepared to scale up as the casino continues to attract more visitors. The next few years are expected to bring even more exciting developments to the area.
