Published on: November 6, 2024, 12:55h.
Last updated on: November 6, 2024, 12:55h.
The Cordish Companies have gained access to a new gaming market in Virginia after years of seeking entry into the state.
Voters in Petersburg overwhelmingly supported a local referendum for a $1.4 billion mixed-use development, including the $600 million Live! Casino & Hotel Virginia resort. The referendum passed with 82% backing from all precincts in the city.
Cordish, in partnership with NFL Hall of Famer Bruce Smith and his Virginia real estate firm, is set to develop the Petersburg project.
Smith expressed gratitude for the community’s support, emphasizing the positive impact the project will have on the city’s economy through job creation, tourism, and overall growth.
Cordish also remarked on the approval, highlighting the opportunity to create a world-class casino and entertainment destination that will benefit the local economy and community.
Project Overview
The $600 million investment from Cordish and Bruce Smith will bring a Las Vegas-style integrated resort to Petersburg, featuring a hotel, restaurants, convention facilities, a concert hall, and a casino floor with various gaming options.
Developers project that the resort will have a significant economic impact, generating tax revenue and creating job opportunities with competitive compensation.
During the construction phase, a temporary gaming facility will operate with a range of gaming options and amenities.
Future development phases will include additional hotel space, residential areas, offices, and retail options.
How We Got Here
Petersburg’s approval for a casino project marks a significant milestone for Cordish in entering the Virginia gaming market.