Virginia Casino Developers Promise Temporary Venue Within Year of Approval

The Cordish Companies and Bruce Smith Enterprise (BSE) announced Wednesday that they will be able to have a temporary casino up and running in Petersburg within a year if local voters approve the proposal in a referendum this November. 

The announcement was the first public comment from the developers since the Virginia Lottery Board and a Petersburg Circuit Court Judge approved the November referendum earlier this month. It is also the first full look at what Cordish and BSE are planning for Petersburg.

Temporary Venue to be Incorporated Into Full Casino

According to the press release, the temporary venue will serve as a first phase of construction for the final development of the permanent casino, which will be known as Live! Casino & Hotel Virginia. The temporary casino will be built on Brassfield Parkway, and it will eventually be incorporated into the completed resort on the same site.

The statement laid out what gamblers can expect to see in the interim casino. The developers stated that it would include 1,000 slot machines, as well as 23 table games, a bar and restaurant, and a 15-table poker room.

“The partners intend to quickly open an initial first phase casino within a year of voter approval to begin creating jobs, vender opportunities, tax revenues, and many economic benefits immediately for the city of Petersburg and its residents,” the developers said in their statement.

The temporary facility will only offer a fraction of the amenities of the permanent complex. The resort is planned to include a 200-room hotel, 35,000 square feet of convention space, 1,600 slot machines, a 3,000-seat entertainment venue, a sportsbook, and expanded dining options, some of which will come from local Petersburg restauranteurs. 

The developers and lawmakers have projected that that Live! Virginia will generate $240 million for the city of Petersburg and up to $2.8 billion for the central Virginia region during its first 10 years of existence. In addition, the developers say that the project will generate more than 7,500 jobs between construction and eventual business operations.

With former Buffalo Bills legend and pro football Hall of Famer Bruce Smith’s company (BSE) having a 50 percent equity state in the project, the developers say that this will be the largest minority-run gaming partnership in the United States.

“I’ve learned that collaboration and building relationships are hallmarks of any successful undertaking,” Smith said in the statement. “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.”

Voters Have Final Say on Controversial Casino Project

All the gaudy economic projections and construction targets will mean nothing, however, unless Petersburg voters ultimately approve the ballot initiative welcoming a casino to the city this November.

That ballot question will be the final hurdle for what has been a contentious process in Petersburg. The city only because a casino host after Richmond voters twice rejected a casino referendum, leading the Virginia legislature to approve Petersburg as the state’s fifth potential casino location instead.

The Petersburg City Council then named Cordish and BSE as their casino partners in a closed session with little warning, abruptly ending the bidding process. That led legislators to question the transparency and propriety of the city council’s actions, while Petersburg officials countered by saying Virginia lawmakers had pressured them into signing a letter naming Bally’s as their preferred casino partner.

(Image: courtesy of Live! Casino & Hotel Virginia)