Cordish Companies wins gaming project in Virginia
Bruce Smith Enterprise and The Cordish Companies will develop a $1.4bn Live! Gaming & Entertainment District.
US.- The Petersburg City Council has unanimously approved Bruce Smith Enterprise and The Cordish Companies as the city’s development partner for a casino and entertainment district. The companies will codevelop a $1.4bn Live! Gaming & Entertainment District including Live! Casino & Hotel Virginia.
Mayor of Petersburg Sam Parham said: “The City of Petersburg is thrilled to have selected Bruce Smith Enterprise and The Cordish Companies as development partners after a thorough RFP process and extensive review by outside consultants. An important part of our evaluation was to identify a development team with a proven track record in developing and operating mixed-use and casino properties, a long history of revitalizing cities across the country, and strong community engagement practices.
“Bruce Smith and Cordish’s experience, comprehensive project master plan and visionary approach, ideal site location, robust financial strength, and commitment to swift market entry make them the clear and unanimous choice of both our consultants and City Council. The City has worked very hard to get to this point, and we believe that it is imperative to continue moving this project forward as expeditiously as possible so that we can meet the deadline to get this in front of our citizens for a referendum vote this November.”
See also: Virginia reports $65m in casino revenue for March
The development will include a Live! Casino & Hotel Virginia resort with more than 400,000 square feet of gaming, hotel, and dining space, 1,600 slot machines, 46 live table games, a 15-table poker room and a sportsbook. It would also feature 35,000 square feet of meeting and convention space and a 200-room hotel featuring 20 suites. The partners plan to open an initial first-phase casino within a year with 1,000 slot machines, 23 live table games, a poker room, casino bar and a restaurant.
