An enormous victory
According to the Cordish Companies, the project represents the largest casino investment and development by a minority-owned business group in America.
“We got an overwhelming result,” Petersburg Mayor Sam Parham said after the election. “It’s really gratifying. It really shows what can happen when Mayor and city council come together as a unit.”
The massive project is expected to create 7,500 construction and permanent jobs during the first 10 years. It is also estimated to generate $2.8 billion with $240 million of that going to Petersburg, just about 30 minutes south of the capital city of Richmond.
Development is expected to get underway at 11:00 a.m. on March 19.
“We lost so much of our manufacturing and retail in the 80s and 90s, so everyone is eagerly anticipating our largest economic development project here, which is the Live! Casino Resort coming to Petersburg,” Parham said.
Getting ahead on plans
The details of the casino are staggering.
The facility plans to include 400,000 square feet of gaming, hotel, and dining space, 35,000 soiree feet of meeting and convention space, a 200-room hotel with a pool and fitness center, 1,600 slot machines, 46 live-action table games, a 15-table poker room, a sportsbook, a 3,000-seat entertainment venue, eight food and drink locations, and free surface parking.
The resort will sit near the intersection of Wagner Rd and Brasfield Pkwy, which is less than a half-mile from Interstate 95.
Rob Norton, president of the Cordish Gaming Group, said that they have a meeting planned with the chief of the Petersburg Police Department to discuss protocols and potentially hiring off-duty officers to work security.
A bill that required the casino to share its revenue with surrounding cities was discussed at Tuesday’s meeting, though it was withdrawn, ensuring that revenues would remain in Petersburg.
While this is a major success for Petersburg, another location in Henrico county recently hit a snafu as lawmakers pushed for a casino project to receive public approval despite it having already been granted development rights.
