PETERSBURG – The co-developers of the proposed $1.4 billion casino complex have shared specifics about what they are planning almost immediately should Petersburg voters greenlight their plans on a Nov. 5 referendum.
The Cordish Companies and Bruce Smith Enterprise, Petersburg’s partners in the Live! Casino & Hotel Virginia said a temporary site will go on Brassfield Parkway off Wagner Road in the city’s southern end while the final project is being built there. While that much was already known, Wednesday’s statement went into a little more detail about the first phase.
According to a statement released Wednesday morning, the developers say the interim gaming parlor will include:
- 23 live action table games;
- a casino bar and casual restaurant; and
- more than 1,500 free guest and employee parking spots.
“The partners intend to quickly open an initial first phase casino within a year of voter approval to begin creating jobs, vendor opportunities, tax revenues, and many economic benefits immediately for the city of Petersburg and its residents,” the statement read.
Once the permanent complex is completed, the temporary casino will be incorporated into the venue.
Earlier this month, the Virginia Lottery Board – which governs the state’s fledgling casino industry – approved Petersburg’s request for a referendum. Last week, Petersburg Circuit Court Judge Dennis Martin authorized placement of the referendum on the Nov. 5 ballot that will also include elections for president and U.S. Senate and House of Representatives; and three seats each for City Council and School Board.
Wednesday’s statement from Cordish and BSE was their first about the project since the referendum was approved and put on the ballot.
“We are thrilled to bring this scale of economic development to the community of Petersburg and look forward to working with the city and commonwealth to deliver a game-changing destination that will benefit Petersburg for generations to come,” Cordish chief operating officer Zed Smith said in the statement.
Bruce Smith, a Virginia native, pro football Hall of Famer and partner on the project, added: “I’ve learned that collaboration and building relationships are hallmarks of any successful undertaking. That is why I am excited to personally engage with Petersburg voters to show them how this long-awaited economic opportunity will change the trajectory of their futures.”
A temporary location is nothing new in the industry. Two of the five designated casino-host cities in Virginia opened interim parlors while their permanent locations are finalized.
What's planned in the long run?
Long-range annual revenue projections for the completed development are $240 million for Petersburg and as much as $2.8 billion for central Virginia within the entire development’s first decade.
The project will be managed by Petersburg Community Development Investors, LLC with a 50% equity stake. Cordish and BSE say it will be the largest minority-run gaming partnership in the country.
The permanent casino complex will include:
- more than 400,000 square feet of gaming, hotel and dining space;
- 35,000 square feet of meeting and convention space;
- an upscale 200-room hotel featuring 20 suites, resort pool and fitness center;
- 1,600 state-of-the-art slot machines;
- 46 live action table games, including a 15-table poker room;
- high limit slot and table areas and a sportsbook;
- A 3,000-seat state-of-the-art entertainment venue that will be used to draw performers from across the country and serve as a meeting center;
- eight best-in-class food and entertainment options, including three spaces that will be reserved for local Petersburg restauranteurs and businesses; and
Petersburg and the developers plan for the complex to be the anchor of a multi-use business and residential community stretching across the entire 92-acre parcel.
Cordish and BSE expect it to generate more than 7,500 jobs in both construction and business operations.
Petersburg joins Bristol, Danville, Norfolk and Portsmouth as Virginia’s casino hosts. It replaced Richmond after voters there twice rejected a casino referendum.
Bristol and Danville opened temporary casinos while their partners Hard Rock and Caesars, respectively, get final locations ready for opening later this year. Rush Street Gaming-owned Rivers Casino opened its permanent site on Victory Boulevard in Portsmouth.
The Norfolk project remains on the drawing board.
For more information about the proposed Petersburg casino project, go to https://valive.casino/ .
Bill Atkinson (he/him/his) is an award-winning journalist who covers breaking news, government and politics. Reach him at batkinson@progress-index.com or on X (formerly known as Twitter) at @BAtkinson_PI.
This article originally appeared on The Progress-Index: Developers: Temp casino open 'within a year' of Petersburg voters' approval
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