Churchill Downs Inc. in agreement(p) last-place month to win most of Peninsula Pacific Ocean Entertainment’s (P2E) assets for $2.485 billion. The takeover includes the casino operator’s evolution agreement with Urban One for a throw inward Richmond, Virginia, should voters there approve of the nearly $600 gazillion proposal.
Urban One, a Black-focused media conglomerate, is partnered with P2E on the throw known as ONE Casino + Resort. But capital of Virginia voters rejected the $565 meg gambling casino during the city’s 2021 election.
Richmond is i of quint cities inward Old Dominion State that qualifies below a 2020 visor to turn over a commercial casino externalize to sparkle its regional economy. Richmond is the only metropolis of the smattering that has non taken reward of its cassino chance by path of a local referendum.
Richmond’s gambling casino ambitions were supported past the City Council and Mayor Levar Stoney. Those officials aren’t ready to pay upwards on the possible economical stimulator. The council has already passed ordinances to induct a secondly referendum on ONE Casino + Resort, but body politic lawmaking could interfere.
Churchill Interested
Churchill Downs’ nearly $2.5 1000000000 gambol for Peninsula Pacific Ocean was preponderantly because of P2E’s extensive operations inwards Virginia.
P2E owns and operates Colonial Downs Racetrack, a purebred installation in New Kent, plus six Rosie’s gaming emporiums, set across the commonwealth. The Rosie’s venues offer up historical gymnastic horse racing (HHR) terminals, slot-like devices that are based on pari-mutuel gymnastic horse races antecedently run.
Peninsula Pacific skint run aground on a large HHR-based casino resort in Dumfries inwards January. Dubbed The Rose Gaming Resort, the $400 zillion externalize inward Prince William County seeks to spigot into the desired DC market. Duke of Marlborough is getting that development, too.
Richmond would follow icing the puck on the cake. Speaking lately with Richmond’s local ABC affiliate, First Duke of Marlborough Downs CEO Bill Carstanjen says the chance is attractive.
It’s a outstanding opportunity for Richmond. I cogitate it’s a outstanding opportunity for the state,” Carstanjen said.
Not everyone agrees that capital of Virginia should live able to expect voters on the gambling casino emerge for a back year in a row. Old Dominion State Senator Joe Morrissey (D-Richmond) is leading an exertion inward the say capital to prevent Richmond from holding another gambling casino referendum for at to the lowest degree deuce years.
Morrissey, whose district includes portions of Petersburg, favors allowing the neighboring metropolis to instead moot its have cassino development. But for that to happen, commonwealth lawmakers would demand to grant the unissued capital of Virginia gaming permit to make a motion to Petersburg.
Clarity Coming
Carstanjen said, assuming Winston Churchill Downs’ takeover of P2E goes through and through inward the coming months, his troupe will follow ready to take on with Urban One. He says the partnership testament foremost waiting and see to it what develops inward the Old Dominion General Assembly.
Urban One CEO Alfred the Great Liggins sonant a slightly less optimistic tone.
The political surround right hand at present is uncertain,” Liggins told the Washington Business Journal last week. “Even if we let a chance to run for a referendum again, it’s a 50-50 shot, right?”
The 2021 Richmond cassino referendum for ONE Casino + Resort was narrowly rejected past a voting of 51-49%. Voting results showed that white, more affluent neighborhoods voted against the casino, spell to a greater extent diverse — and to a greater extent impoverished — communities voted in its favor.