A momentous decision
Petersburg became the target for the casino after Richmond voters twice rejected the idea.
The $1.4 billion project would become Virginia’s fifth legal casino, if approved by the necessary regulatory agencies.
The group behind the project is aiming to construct a large gaming facility complete with 200 hotel rooms, eight dining venues, and a state-of-the-art entertainment venue.
The project would bring more than $10 billion in economic stimulus to the area, create more than 10,000 jobs, and add $1.1 billion in tax revenue, per Cordish.
"The citizens have spoken tonight, and they are excited," Petersburg Mayor Sam Parham said at a Tuesday night celebration. "We did not want just a casino, we wanted a destination resort. The casino is a small piece of this because we're going to have the entertainment, convention center, [and] the hotel."
Parham added that the city will assist Cordish and Gaming and Leisure Properties, owner of the Live! Casino & Hotel brand, get the zoning process completed as soon as possible.
Getting started
Petersburg stands to benefit greatly from a casino, as it was $17 million under and almost went bankrupt just nine years ago.
Parham believes that the commitment of the developers and voters represents a landmark chapter in the area’s history.
"For far too long, projects of this magnitude have passed over this small city, so this right here is the city most deserving, which is the city of Petersburg," Parham said. “It’s really showing what can happen when a mayor and city council come together as a unit. It shows what unity can do in building a city and turning a city around.”
“We are here because of you,” said Bruce Smith, CEO of Bruce Smith Enterprises.” Five cities have had the opportunity to have a casino built in their city and you are the last one.”
Construction on the casino is expected to begin in the first quarter of 2025. The facility is expected to open for business in 2026.
Elsewhere in Virginia, Caesars finally announced the grand opening of a casino in Danville.
According to the world-famous brand, guests will be able to enter the new facility starting at noon on December 12.
The 587,000-square-foot facility has table games, a poker room, slot machines, a hotel tower, convention spaces, entertainment venues, and more.
The other Virginia casinos are in Bristol and Portsmouth. One is beginning development in Norfolk next to Harbor Park.
