Caesars Entertainment enters a new state with a casino opening in Virginia

Caesars Entertainment (NASDAQ:CZR) opened the highly anticipated Caesars Virginia property during the week. The luxury resort opened its doors for the first time following a ceremony led by Caesars Entertainment (CZR) CEO Tom Reeg and other top executives.

An event celebrating the opening began with a parade of race cars and supercars supplied by Virginia International Raceway, Kaizen Autosport and Foreign Cars Italia weaving through the heart of Danville. Five-time NBA champion Dennis Rodman was the parade’s master of ceremonies. Following the ribbon-cutting, Rodman placed the first ceremonial bet in the new Caesars Sportsbook.

Caesars Virginia boasts 90,000 square feet of gaming space, including nearly 1,500 of the newest, most exciting slots, 79 live-action table games, 48 electronic table games, a WSOP poker room and Caesars Sportsbook. Additionally, Caesars Virginia is also home to a 320-room hotel tower, 50,000 square feet of meeting and convention space that also serves as a 2,500-seat live entertainment venue, a full-service spa, a pool, and a wide variety of dining options.

The manager for Caesars Virginia expects the property to see about two and a half million visits a year. He said he hopes people from neighboring states will visit the casino.

Caesars Entertainment operates over 50 casino properties across the United States. The company has a presence in 17 states, including Nevada, Colorado, Missouri, Iowa, Florida, Mississippi, Louisiana, Ohio, Illinois, Indiana, New Jersey, Pennsylvania, Arizona, North Carolina, California, Virginia, and Maryland.

Shares of Caesars Entertainment (CZR) are down 23% on a year-to-date basis.