South Carolina Casino Developer Proposes $1 Billion Project in Forgotten Santee Outlets

South Carolina is inching toward legalizing casino gambling and opening its first retail casino in the Santee River Valley.

Greeneville, SC businessman and casino developer Wallace Cheves recently unveiled plans for an ambitious $1 billion casino-resort at the former site of the Santee Outlet Mall, now known as the Santee Village Square, which has been closed for more than a decade. 

Officials in Santee and nearby town Vance plan to meet with Cheves this week, according to The Times and Democrat.

A seismic proposal 

Cheves, speaking on behalf of the Santee Development Corporation, said that the project would be privately funded despite its gaudy price tag. 

“We strongly believe that this investment should be driven by private enterprise, not taxpayer dollars, ensuring no financial risk to the public sector,” said Cheves. 

South Carolina is one of the very few states that have resisted the nationwide explosion of gambling interest. The only form of legal gambling belongs to the state lottery, meaning that sports betting, land-based and online casinos, Daily Fantasy Sports, and sweepstakes casinos are all prohibited.

House Bill 3353 aims to change those restrictions. Submitted by Rep. Todd Rutherford (D-Rochland) and Rep. Hamilton Grant (D-Richmond) in December 2024, the proposal calls for the legalization of slot-machine gamine, live-dealer table games, sports betting, and parimutuel betting. 

The bill would still require approval from state voters even if it clears the General Assembly.

Unfortunately for the pro-gaming crowd, the bill has been stuck in the House Judiciary Committee since mid-January and does not seem likely to advance in a State House that is composed of 88 Republicans and 34 Democrats. 

Is Cheves the man for the job?

The target site for the casino is two hours West of Myrtle Beach and one hour south of the state capital of Columbia.

The town of Santee was represented with an 812-person population on the United States Census Bureau's report for 2023. Cheves believes that a luxury casino could revitalize the entire area, which was once a preeminent destination along I-95.

“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,” said Cheves.

Plans for the casino, if approved, would commence in 2026-27.

Still, approval is far from a guarantee, and Cheves’ controversial past won’t make it any easier.

Cheves’ Sky Boat Gaming, LLC helped finance and operate the Catawba Indian Nation’s $700 million casino in Kings Mountain, North Carolina. The National Indian Gaming Commission (NIGC) later stated that the agreement between Cheves and the tribe benefitted his business, not the tribe or the casino.

The NIGC paid an unknown fee to separate Cheves from the project. Cheves later filed an unresolved suit that is seeking financial damages.

Cheves is also part of an ownership group that runs Grup Ronaldinho, an international business management firm specializing in acquiring sports franchises. He’s also a part-owner of the Greenville Pro Soccer organization, which oversees Greenville Triumph SC and Greenville Liberty.