An updated development agreement points to the prominent hospitality and gaming company playing a pivotal role in the project, ultimately aiding in breaking ground in Norfolk.

Despite facing numerous delays over the years in relation to the proposed Norfolk Casino by the Pamunkey Indian Tribe, the project appears to be inching closer to fruition. City documents have unveiled plans for the establishment of a temporary venue followed by the development of a permanent casino.

Initially, the Norfolk casino project boasted a staggering price tag of $500 million. However, with the latest development agreements awaiting approval from the Norfolk City Council, it seems the minimum investment required for the project has been reduced to $300 million.

Of significant importance is the potential involvement of Boyd Gaming, a major player in the gaming and hospitality industry. As per the proposed agreement, Boyd Gaming would acquire a majority stake in Golden Eagle Consulting, a company established by billionaire Jon Yarbrough, and take on a key role in the development, financing, and operations of the Tribe’s future casino in Norfolk.

City documents outline that with Boyd Gaming as the primary stakeholder, the project is poised to take off. Though the specifics of how Boyd will acquire a majority stake in Golden Eagle remain unclear, it is evident that the Tribe is expected to hold approximately 20% interest in the company with no other stakeholders involved.

Acknowledging its involvement in the project, Boyd Gaming released a statement to WHRO on Tuesday, stating, “Boyd Gaming has initiated the necessary steps to assist the Tribe in bringing its vision to life in a manner that will provide significant benefits for the Tribe, the City of Norfolk, and the Commonwealth of Virginia.”

Following the approval from voters in 2020, the Tribe has until November 2025 to secure a license. This timeline underscores the urgency for the establishment of a temporary venue, as outlined in the new proposal.