The Virginia Lottery Board has granted approval for a new casino in Petersburg, marking it as the fifth licensed casino statewide.
Live! Casino Virginia, managed by PPE Casino Resorts Petersburg LLC, is set to launch a temporary facility covering 75,000 square feet on January 22. This casino will be strategically located near I-95 and Wagner Road at exit 48B.
A permanent establishment, which will exceed 450,000 square feet and feature a hotel, dining options, a convention center, and a concert venue, is currently being built. This development is anticipated to generate 1,400 permanent positions and contribute over $200 million annually to the local economy.
Rob Norton, President of Cordish Gaming Group, confirmed that the casino has extended more than 600 job offers, exceeding its initial target of 500 positions. Over 100 of these new hires are graduates from the company’s Dealer Institute, which trains table game dealers at Richard Bland College.
The casino’s inauguration is expected to provide significant economic advantages for the city. Petersburg is projected to receive $15 million from the casino by the year 2026, alongside additional tax revenues generated. “During our initial decade, we estimate around $240 million in value for Petersburg when combining both the temporary and the permanent facilities,” Norton stated.
Local businesses will also reap benefits. Over a dozen partners are set to provide players with rewards vouchers that can be redeemed at nearby coffee shops, breweries, and retail stores, including Resist Booksellers, Cindy’s Gift Shop, Escape Olde Towne, Ashton Creek Vineyard, and Cool Beanz Cafe.
Cheryl Brown, Vice President of Marketing, remarked: “Our goal is to integrate with the community, allowing patrons to become familiar with the area. There’s no better way to achieve that than through partnerships with local businesses in Petersburg and the surrounding region.”
According to a communication from the Virginia Lottery, the board unanimously approved the application for licensure by PPE Casino Resorts Petersburg, LLC on Wednesday, January 14, following a comprehensive examination of their application and what the Lottery described as “a detailed background check.”
Norton highlighted that the license is provisional, pending an upcoming test run and audit scheduled for next week.
Construction on the permanent casino and resort, situated near the intersection of Interstate 95 and Wagner Road, is ongoing, with expected completion by late 2027.
This $1.4 billion endeavor is a collaborative effort between The Cordish Companies and Bruce Smith Enterprise. Casinos and sports betting activities in Virginia are regulated as per legislation enacted in 2020.
The Petersburg casino joins previously approved sites in Bristol, Danville, Norfolk, and Portsmouth. Attempts to establish a casino in Richmond have been rejected by voters on two separate occasions.