The city has a performance agreement with Caesars that requires a $5 million minimum payment per year as long as the casino operates, City Manager Ken Larking said at a Tuesday briefing on the proposed budget. The city of Danville expects to receive $12.1 million in revenue in its next fiscal year from the soon-to-open Caesars Virginia casino resort development, and a new city budget proposal recommends spending some of the new money on schools and economic development initiatives.
