The Cordish Companies chosen to develop Petersburg casino resort
The city of Petersburg, Virginia, has announced the selection of The Cordish Companies as development partner for the proposed casino.
US.- The City Council of Petersburg, Virginia, has selected The Cordish Companies to develop the city’s proposed first casino. The decision came a day after the Joint Legislative Audit and Review Commission released a study showing casinos in Richmond and Petersburg can coexist.
In June, Petersburg’s mayor Sam Parham said that he wanted to have a developer chosen before a possible referendum on the proposed casino in 2023.
Zed Smith, chief operating officer of The Cordish Companies, said: “The Cordish Companies is honoured and excited to have been selected by the City of Petersburg as development partners on this transformative project.”
Smith added: “Urban revitalization is at the heartbeat of The Cordish Companies’ DNA. We share governor Youngkin, mayor Parham and the Petersburg City Council’s commitment to create a world-class entertainment destination and mixed-use project with gaming that will generate millions of dollars in tax revenues and spinoff economic development, create thousands of new jobs and benefits to the local community, and become a major new tourist destination for the city.”
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Mayor Parham said: “An important part of our evaluation was to identify a development partner with a proven track record in developing and operating mixed-use and casino properties, a long history of revitalising cities across the country and strong community engagement practices.”
Parham continued: “The development of a casino in Petersburg is a once-in-a-generation opportunity to set the course for economic growth for decades to come. We are confident that we have selected the ideal partner in The Cordish Companies to bring to fruition our vision for Petersburg.”
Casinos have been approved, and development is underway, in four Virginia municipalities: Bristol, Danville, Norfolk, and Portsmouth.
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