Richmond residents decide if they authorize new casino
The election in Virginia will be on November 2. Residents are being asked if they want to authorize One Casino and Resort.
US.- Richmond qualified to ask residents if they wish to bring the region a commercial casino. They will decide whether the One Casino will rise or not. If the project is approved, the construction phase can begin and eventually the venue will be open for business.
Six pitches were sent in and it was Urban One, a media company, that was chosen as the winning plan. The company has teamed up with Peninsula Pacific Entertainment to create the ONE Casino and Resort which will cost $565m to construct.
According to Urban One, the property would create $500m in new tax revenues. Within its first 10 years of operations, it would provide $5.7bn. Almost four million tourists would be brought to the area each year which will help bring in new revenues with local shops and restaurants along with the casino and hotel.
“South Richmond has been waiting for an economic development opportunity of its own,” Urban One CEO Alfred Liggins stated in Virginia Business. “Other sections of Richmond have seen tremendous growth in recent years, but that growth has not, to date, included South Richmond.”
Virginia voters in four cities backed local ballot referendums during the 2020 general election that approved one casino resort for each locale. Many in Richmond hope the capital will join Norfolk, Portsmouth, Danville, and Bristol.
On the other hand, “Richmond for All,” a nonprofit group, opposes gambling in the city. The “Richmond for All” committee claims that a casino would “rob our community just to make a few folks wealthy.”
Early voting started on September 17 but the full decision will be announced after the November ballots are counted.
See also: Richmond chooses Urban One to develop casino resort
