With Virginia Gov. Glenn Youngkin’s plan to build a $2 billion arena in Alexandria for the Washington Capitals and Wizards in jeopardy, three political and business figures have been pitching an unlikely Hail Mary: an idea to pair the sports arena with a new casino in Fairfax County.
Instead of building the arena in Potomac Yard with taxpayer-backed bonds, their plan called for putting it in the Tysons area alongside the casino, with tax revenue generated by gambling used to guarantee the arena bonds.
The idea has been flatly rejected by Youngkin (R) and the teams’ owner, Monumental Sports & Entertainment, who still hope that their original plan to build the arena in Potomac Yard will overcome setbacks in the General Assembly.
