The Cordish Companies on Mon unveiled details of its revamped pitch for a $1.4 1000000000 mixed-use evolution featuring an integrated resort gambling casino for Virginia’s Petersburg.
Cordish, the operator of Live! casinos and hospitality districts, firstly presented Petersburg with a casino proposal in 2022. With the odds up that the Virginia urban center testament be afforded a gaming licence through province legislation and a subsequent local referendum, the Baltimore-based house has updated and strengthened its pitch.
Cordish reps told Casino.org today that the companion has partnered with Virginia indigene and NFL Asaph Hall of Famer Sir David Bruce Smith’s existent land evolution firm, David Bruce Kathryn Elizabeth Smith Enterprise, for a residential and amusement dominion anchored by a gaming destination that would follow called Live! Casino & Hotel Virginia.
The proposed project, a Cordish statement said, would bring forth billions of dollars in economic benefits for the res publica and economically distressed city and employ thousands of people.
Live! Old Dominion Blueprint
The Live! Casino & Hotel Old Dominion State project calls for o'er 400,000 lame feet of gaming, hotel, and dining space.
The cassino would extend 1,600 slot machines, 46 unrecorded dealer tabularize games, a 15-table stove poker room, and a sportsbook. The resort hotel component would include 200 rooms and suites, a holiday resort puddle and physical fitness center, a 3,000-seat concert venue, and eighter restaurants and bars. The holiday resort would employ 1,500 people, with Cordish locution the norm $70,000 one-year compensation would characteristic “life-enhancing benefits.”
Cordish is targeting the cassino holiday resort at the crossway of Richard Wagner Road and Interstate 95. The keep company says its partnership with Robert I Smith Enterprise is the first of all of its kind inwards the gaming manufacture to make a minority-owned business sector as a co-development partner. It’s an reward John Smith is most happy to read on.
I’m surefooted that Sir David Bruce David Roland Smith Enterprise and The Cordish Companies are the flop partners for this undertaking, because we share the same visual sensation and understand the needs of the City of Petersburg Campaign and its citizens,” Joseph Smith said. “Together, we can buoy make out singular act inward Petersburg Campaign that will transubstantiate lives, reestablish hope, and in the end hue a young vigour of revitalization that will follow matte for generations.”
Cordish, if its Petersburg Campaign gambling casino is greenlit, would unresolved an “initial phase” of the gambling casino within a year of commendation to “begin creating jobs” patch the lasting resort hotel is constructed. Casino revenue would also, of course, aid Cordish and Adam Smith finance the scheme.
Along with Smith, the 50% nonage composition for Live! VA would include former Cox Communications executive Gary McCollum, former City of Brotherly Love Eagle and University of Old Dominion All-American Bill McMullen, and the Sir Joshua Reynolds household that owns Reynolds Metals headquartered in Richmond.
Cordish did non at once bring home the bacon details on the mixed-use aspects of the $1.4 one million million scheme, nor how much of that budget would go game towards the resort. Artist renderings, however, demo a straggling coordination compound with what appears to live several flat and condo residential buildings surrounded past retail stores and office staff space.
Path to Ballot
If Virginia lawmakers concur to Gov. Glenn Youngkin’s (R) proposed changes to the Petersburg gambling casino account — specifically, removing the reenactment clause — the Petersburg City Council would be cleared to field of operation formal bids for the gaming opportunity. The metropolis recently completed a Request for Proposal (RFP) that garnered responses from a handful of companies.
Along with Cordish, Bally’s Corporation, William Penn Entertainment, Benjamin Rush Street Gaming, and The Warrenton Group verbalised interest.
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