Petersburg casino bills move forward
Senate Bill 780 and House Bill 1373 have passed committee votes.
US.- Bills that would allow Petersburg to host a casino resort have moved forward. The Senate General Laws Committee voted 11-4 on Wednesday to approve Senate Bill 780, proposed by Senator Joe Morrissey (D-Richmond) and to refer it to the Senate Finance and Appropriations Committee.
The House General Laws Committee voted 5-2 on Tuesday to approve House Bill 1373, proposed by Del. Kim Taylor (R-Dinwiddie) and refer it to the House Appropriations Committee.
If approved, The Cordish Companies would operate the $1.4bn casino in Petersburg, bringing its Live! Casino & Hotel brand to southeast Virginia. The casino resort would feature more than 670,000 square feet of gaming, hotel, dining and entertainment.
There would be a 200-room hotel with 20 suites, a pool and a fitness centre; over 2,000 slots, electronic table games and 60 live table games including poker; a sportsbook and an event centre for entertainment, meetings and conventions. There are plans for over a dozen dining and entertainment options and free surface parking.
Over the first 15 years of operation, Cordish Companies expects to generate $3.60bn in economic stimulus for the region, $675m in gaming tax revenue and $220m in annual economic benefits. It says the project will create more than 4,000 new jobs including 2,500 construction jobs and 1,500 permanent jobs in hotel operations, finance, marketing, human resources, IT, food and beverage, security and more.
Zed Smith, chief operating officer of The Cordish Companies, said: “Live! Gaming & Entertainment District will be a catalyst for change and significant urban development, will transform the City by creating a thriving entertainment and hospitality attraction for the entire Region, and provide first-class amenities for the local community while generating spin-off economic development, creating thousands of new jobs for area residents, and substantial opportunities for local, minority, women-owned, and veteran-owned businesses. We look forward to continuing our work with the City to bring their vision to life.”
Casinos in Virginia
A 2019 Virginia law allowed for up to five brick-and-mortar casinos in Bristol, Danville, Norfolk, Portsmouth and Richmond.
Residents in Richmond, Virginia, rejected Urban One´s plan to construct a $565m casino on the city’s Southside last November. Richmond City Council wants to try again, but the potential enactment of HB 1373 would end any chance of a second referendum for a Richmond casino.
