A casino project for Petersburg is being voted on by area residents
The future of a proposed casino in Petersburg, Virginia, is now in the hands of local voters. The Cordish Companies and Bruce Smith Enterprises are pushing for a $1.4 billion development that would bring a Live!-branded casino resort to the city.
The initial phase of the project is valued at $600 million, and would include Live! Casino & Hotel Virginia. This resort, located near Interstate 95, would feature a 200-room hotel, eight dining and bar options, 35,000 square feet of convention space, a concert venue for 3,000 guests, and a casino floor with 1,600 slot machines, 50 table games, a 15-table poker room, and a sportsbook.
The casino proposal aims to revitalize Petersburg’s economy, which has struggled with high levels of urban blight and low median household income. The developers are confident that the project will generate significant economic growth, projecting a $2.8 billion boost during the first decade of operations. In addition, they have committed to paying resort workers an average salary of $70,000, including benefits.
If the referendum passes, Cordish and Bruce Smith will undergo suitability reviews by the Virginia Lottery, which oversees casino regulation in the state. This process would pave the way for the project to begin. Should the casino be approved, the developers plan further expansion, including an additional $800 million investment over the next ten years. The extended plan includes building a nongaming hotel, office space, retail stores, and residential units.
While no public polling has been conducted on the issue, many believe Petersburg residents are more likely to support the casino than other areas where similar proposals have faced resistance. If successful, the project could be a game-changer for the city, offering much-needed economic relief and new opportunities.
