The developers behind the would-be Live! Casino Hotel Virginia resort project in Petersburg have assembled their referendum campaign team.
A rendering of Live! Casino Hotel Virginia in Petersburg. This November, city voters will decide whether the $600 million initial phase to bring a commercial casino to the area will move forward. (Image: The Cordish Companies)The Cordish Companies, the Baltimore-based gaming and hospitality firm behind Live!-branded casinos and entertainment districts across the country, is the preferred gaming developer of the City of Petersburg.
In a little more than a month, early voting will begin in Virginia, with local voters in Petersburg being fronted with a ballot question asking them to approve a located off Interstate 95 at Wagner Road along Brasfield Parkway.
If a simple majority of the Petersburg vote backs the Live! casino pitch, Cordish and development partner Bruce Smith Enterprises will be cleared to move forward with applying for a gaming license from the Virginia Lottery, which regulates casinos and sports betting in the .
Campaign LaunchCordish and Bruce Smith recently announced plans to get out the vote in support of what the developers believe will electrify Petersburg s economy. Per the United States Census Bureau, 22.2% of the city s population lives below the federal poverty level, which includes individuals earning less than $15K per year or a family of four in a household with income below $32K.
Cordish and Bruce Smith have brought on prominent local community activists Ja Scotta Jefferson and Preston Page to serve as co-campaign managers for the 2024 . Two duo, Cordish and Bruce Smith said in a release, bring expertise and passion with a proven track record in community engagement, strategic communication, and campaign management.
Bringing this casino resort project to Petersburg is more than entertainment it s an opportunity to boost our local economy, create sustainable jobs, and generate much-needed revenue for community projects and services, said Page. For too long Petersburg has been overlooked by major economic development projects. I am excited to play a part in making this dream become a reality for Petersburg and continue to thoughtfully find ways to create community-changing opportunities for residents.
Cordish and Bruce Smith to open a 200-room hotel with eight restaurants, a resort-style pool, 35,000 square feet of convention space, a 3,000-seat concert hall, and a casino floor with approximately 1,600 slot machines, 50 live dealer table games, a 15-table poker room, and a sportsbook.
Economic BenefitsWith the median household income in Petersburg less than $50K and per capita income below $30K, the developers behind Live! Casino Hotel Virginia say the resort will bring hope for a better life to thousands of city residents.
The casino would be expected to directly employ 1,500 people on average wages and benefits of $70K. That influx of living-wage jobs, paired with revenue generated by the casino resort, would over the first 10 years of operation deliver $2.8 billion in economic stimulus to the region, Cordish and Smith claim.
A project such as this will bring new positive change and economic benefits to the City of Petersburg, said Jefferson. Petersburg is a hidden gem. It s time to let it shine.
With its location along the Appomattox River, Petersburg s economy first relied on the cultivation and . The British-American Tobacco Co. (BAT), which later became Brown and Williamson Tobacco Co. (B W), were the city s chief employers and taxpayers for many decades.
Petersburg s economic downfall began in 1985 when B W closed its Petersburg operations to consolidate its business in Georgia. Inner-city blight, increased unemployment, crime, and property abandonment, contributed to subsequent racial and social problems.
