In a bold move that could significantly transform the economic landscape of Santee, South Carolina, Greenville businessman and casino developer Wallace Cheves has unveiled plans for a massive $1 billion casino resort in the region. This development hinges on the approval of state legislation and local support, as current state laws permit only limited forms of gambling, such as the state lottery, bingo, and offshore casino boats.

Cheves, representing the Santee Development Corporation, emphasized the private funding of the project during a statement on Thursday, asserting that the initiative will not seek public funds. “We strongly believe that this investment should be driven by private enterprise, not taxpayer dollars, ensuring no financial risk to the public sector,” Cheves articulated, according to The Times and Democrat. He detailed that the development would not pursue any local or state funding, including incentives or infrastructure subsidies, contingent upon legislative and local backing for this carefully orchestrated single-casino initiative.

The envisioned casino and resort aim to rejuvenate and transform an economically challenged part of South Carolina into a world-class destination. Cheves elaborated on the economic benefits, stating, “Independent economic projections estimate an $8 billion impact on South Carolina’s economy within the first 10 years, creating thousands of good-paying jobs, driving tourism, and expanding business opportunities for local communities.”

The project’s location is slated for the former Santee Outlet Mall, now known as Santee Village Square, with plans to commence operations around 2026 or 2027. This site was confirmed during a recent Vance Town Council meeting, where Mayor Pro Tem Carolyn Bush announced the plans to the public. The property, which changed hands in 2022 for $2.5 million, was bought by Martin Marietta Materials Real Estate Investments in 2017 for $385,000 and later sold to Santee Outlet Mall LLC of Greenville.

A Project with Potential Statewide Impact

The state’s history with regulated gaming, such as the South Carolina Education Lottery, which has generated over $8 billion for education since 2002, serves as a testament to the potential benefits of this project. Cheves continues to stress the importance of collaboration and transparency with state leaders, local officials, and community stakeholders to ensure the project benefits all South Carolinians.

Amidst these developments, the S.C. House Bill 3353, which was sponsored by Rep. Todd Rutherford, D-Richland, and Rep. Hamilton Grant, D-Richland, is currently under consideration. Prefiled on December 5, 2024, and now in the S.C. House’s Judiciary Committee, this bill seeks to amend the South Carolina Constitution to expand permissible gambling activities, including sports betting and casino games. The proposed revenues from the casino are intended for infrastructure enhancements like highway, road, and bridge maintenance.

Notably, this isn’t the first attempt to introduce gambling to the Santee area. Over two decades ago, the Catawba Indian Nation tried unsuccessfully to establish a high-stakes electronic bingo hall at the exact same location. At that time, the project raised concerns among locals about the potential negative impact on the state-run lottery.

Wallace Cheves is a prominent figure in business and sports management. He owns Sky Boat Gaming, LLC, and has been the principal of Grupo Ronaldinho, an international business management firm, since September 2023. His firm specializes in acquiring and managing sports franchises and fostering strategic partnerships across various industries. Cheves is also a part-owner of the Greenville Pro Soccer organization, managing the Greenville Triumph SC and Greenville Liberty soccer teams, showcasing his diverse professional interests and entrepreneurial spirit.