It only took the Petersburg City Council two and a half minutes to unanimously approve a move asking the Petersburg Circuit Court to sanction a referendum to bring casino gaming to the city. The decisive 7-0 vote occurred Monday morning, marking another vital milestone in the high-profile casino project’s path to fruition.

City Officials Wasted No Time

On 9 July, the Virginia Lottery Board, which oversees the state’s gaming industry, sent a letter to the city administration approving Petersburg’s request to hold the referendum. The City Council’s subsequent meeting, held at the Petersburg Public Library, saw only one citizen in attendance, with the rest of the audience comprising city staff, media, and police acting as security.

Vice Mayor Darrin Hill, representing Ward 2, where the proposed casino resort will launch pending voter approval in November, proudly launched the motion to approve the action. Fellow councilors wasted no time, and in two and a half minutes, the resolution was on its way to the courthouse. Petersburg Circuit Court Judge Dennis Martin signed the motion a few hours later.

Following this vote, Petersburg’s court has until 16 August to approve the referendum in time for it to appear on the 5 November ballot. The referendum will ask voters whether they approve of a new casino gaming establishment in the City of Petersburg providing gambling services. The ballot will provide “yes” and “no” checkboxes for voters to indicate their decision.

The Casino Project Remains on Track

The Cordish Companies, a Maryland-based casino developer, and Virginia-based Bruce Smith Enterprise have partnered to invest $597 million into this project, featuring a casino, hotel, and entertainment complex on 92 acres of land just off Wagner Road in southern Petersburg. This investment includes a temporary casino the group plans to build onsite should the referendum pass, with hopes of opening by the end of 2025.

According to various stakeholders, the project should significantly bolster Petersburg’s economy, providing employment opportunities for roughly 7,500 people, with an average annual compensation of $70,000, including benefits and tips. The city takes the place of Richmond as one of Virginia’s five approved casino locations after Richmond voters rejected gambling in two different referenda.

As Petersburg moves closer to a potential casino future, stakeholders and residents will be closely watching the outcome of the upcoming vote. Following a successful referendum, the state’s general assembly will have one final vote, signaling an official start for the project and potentially bringing economic growth, job creation, and increased tourism to the area.

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Petersburg’s bid to host a casino has taken a significant step forward with the approval of the state Lottery Department. The authority certified Petersburg as a casino host city and granted permission to proceed to a local referendum. The next step in the process requires approval from the Petersburg Circuit Court. If things go as planned, the referendum will coincide with the 5 November general election.

Petersburgers Will Have the Final Vote

The Petersburg City Council has scheduled a special meeting for 8:30 a.m. on Monday to adopt a resolution requesting approval for the referendum. According to Joanne Williams, a spokesperson for the city, the council will release an official statement during that meeting, highlighting further details regarding the project.

The proposed casino project in Petersburg is spearheaded by PPE Casino Resorts Petersburg, LLC, a partnership between Baltimore-based Cordish Companies and Bruce Smith Enterprises, owned by NFL Hall of Famer Bruce Smith. The consortium recently revealed details of their proposed Live! Casino & Hotel Virginia, including the project’s estimated costs.

The initial phase of the development, contingent on voter approval in the fall referendum, involves a $142.63 million investment to build a temporary casino, which would commence operations within a year of a successful vote. The second phase includes a $454.22 million investment for constructing a five-star hotel resort featuring multiple restaurants and amenities and a more expansive, permanent casino floor.

The Project Will Kickstart Petersburg’s Economy

PPE plans to build the casino resort on a 92-acre site off Wagner Road and Interstate 95. According to the paperwork filed with the Lottery Department, the company intends to finance up to 50% of the casino’s construction costs through a loan from Buffalo, a New York-based M&T Bank, with the remainder funded through PPE’s cash equity. No public funds from Petersburg will go towards the construction.

The final resort should employ around 7,500 people, with an average annual compensation of $70,000, including benefits and tips. For comparison, Petersburg’s median household income in 2022 was $47,000, signifying that the project should provide locals with desirable work opportunities. The city’s unemployment rate remains at approximately 5%, so the casino should have no shortage of workers.

Developers project that the resort will generate an annual economic impact exceeding $200 million for Petersburg. This significant economic boost should substantially benefit the local community through job creation and increased economic activity. However, the prospect of a high-profile casino has raised some concerns regarding a potential rise in gambling harm, which may impact the upcoming referendum’s results.

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Bruce Smith Enterprise and The Cordish Companies secured major approval for their proposed $1.4 billion dollar project, Live! Gaming & Entertainment District. The massive mixed-entertainment project is planned to be located in the City of Petersburg, Virginia, using land near the intersection of Wagner Road and Interstate I-95. The strategic location is expected to help with the visitation to the Live! Gaming & Entertainment District, considering that it provides easy access to one of the most important north-south interstates for the East Coast.

On Thursday, the Cordish Companies and Brice Smith Enterprise received approval for their massive project from the Petersburg City Council. The unanimous approval marks an important achievement for the duo, taking them a step closer to the realization of the ambitious project. Still, prior to commencing the project, the matter must be put up with the voters in the state. It is expected that Virginia voters will have a chance to vote for or against the project in a referendum this year in November.

The massive $1.4 billion project is expected to create more than 7,500 new construction and permanent jobs. At the same time, the Live! Gaming & Entertainment District, Anchored by Live! Casino & Hotel Virginia is expected to generate some $504 million in tax revenue for the first ten years. From that total, some $240 million in taxes are expected to benefit the city directly. Overall, the project is expected to bring $2.8 billion in economic stimulus to the region, turning Petersburg into a go-to gaming, entertainment, hospitality and shopping destination.

The Project Is Expected to Deliver World-Class Entertainment, Hospitality

Provided that the project receives a green light, The Cordish Companies and Bruce Smith Enterprise plan to quickly enter into its first phase, developing and opening a new casino that will immediately create new jobs for the city. Once the initial phase is completed, the Live! Gaming & Entertainment District is expected to offer more than 1,000 slots, a dedicated poker room, a casino bar and 23 live action table games.

“We extend our thanks to the entire Petersburg City Council for its thoughtful decision to select Bruce Smith Enterprise and The Cordish Companies as development partners for this transformative, world-class destination in Petersburg.“

Zed Smith, chief operating officer for The Cordish Companies

Zed Smith, The Cordish Companies’ chief operating officer, thanked the Petersburg City Council for its latest decision to support the companies’ ambitious project. He spoke about the Cordish Companies’ experience in developing large-scale mixed-use casino resorts and developments across the country.

Moreover, Smith added that the collaboration with Bruce Smith Enterprise marks the perfect fit for the company. Last but not least, the executive explained that the two companies are looking forward to collaborating with the City and Commonwealth to deliver exceptional gaming experiences and exciting opportunities.

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Petersburg Governor Glenn Youngkin has sent Senate Bill 628 back to the General Assembly with a recommendation to amend the legislation, indicating that a do-over vote is unnecessary for setting up Petersburg as the fifth casino-host city in Virginia. While this move has raised some concerns, it should not affect the bill’s expected success.

The Legislation Remains on Track

The bill, one of 11 amended by the Governor’s office on Friday, had a hastily added re-enactment clause attached to it, requiring it to be reconsidered by the General Assembly even after the House of Delegates and Senate had approved it in the 2024 regular session. Governor Youngkin was surprised by this sudden update, motivating his decision to mandate a do-over.

By amending the bill instead of vetoing it, Youngkin aims to ensure that it proceeds smoothly through the legislative process and gets in front of Petersburg’s voters this November. Unlike a veto, requiring a two-thirds majority in both chambers to override, an amendment only needs a simple majority, significantly improving Bill 628’s chances.

The Governor’s request for the General Assembly to review the re-enactment clause raised uncertainties about the bill’s fate as the bill’s second vote must happen during a regular or a special session. Lawmakers reconvene later this month, but the casino re-vote cannot occur then. However, a special session later this year could provide another opportunity for the vote.

Petersburg’s Casino Dream May Soon Become Reality

The establishment of Petersburg as the fifth casino-host city aims to bolster the economies of historically disadvantaged communities in Virginia. Although Bristol, Danville, Norfolk, Portsmouth, and Richmond were the state’s original choices, only Richmond did not pass referendums. With Richmond stepping back, Petersburg now has the opportunity to secure the final casino license.

Sen. Lashrecse Aird, one of the bill’s primary sponsors, remained optimistic regarding its chances. She highlighted the importance of allowing Petersburg to obtain the fifth casino license and for citizens to vote in a referendum. Aird was looking forward to hearing the proposals of interested operators, hoping they would bring lasting prosperity to the region.

With the removal of the re-enactment clause, this legislation moves one step closer to final approval to allow Petersburg to obtain the fifth and final license.

Sen. Lashrecse Aird

The move to amend the legislation comes after Governor Youngkin signed bills earlier in the week preventing Richmond from revisiting casino referendums until Petersburg has its chance. An upcoming town hall meeting hosted by Senator Aird will allow citizens to meet the five vendors who have submitted bids for Petersburg’s casino business, indicating the significant progress in the casino licensing process.

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Last week, the plan to see Petersburg, Virginia turn into the state’s fifth city that would host a casino came one step closer to becoming a reality, thanks to the Virginia Senate clearing Senate Bill 628 that could give the green light to a casino in the city.

Now, according to a unanimous decision announced by the Petersburg City Council, the next phase in advancing a Destination Resort project is underway. 

Proposals from Operators and Developers Are Expected

The fresh resolution is leading the way for a Request for Proposal (RFP) issued on February 12 that encourages proposals from casino operators and developers in regard to the “comprehensive economic development project, including a destination resort, real estate development, retail, event venue, and casino.”

Proposals can be presented before March 18 at 10 a.m. EST. 

The council’s resolution has justified the RFP using the argument that tax revenue from this type of gaming resort could be employed for the benefit of local infrastructure, education, health, public safety, recreation, parks, and a variety of other initiatives that are expected to build wealth in the community.

Petersburg Thanks Virginia Lawmakers

Virginia state legislation that was passed in 2020 allowed five cities to weigh a commercial casino. The casino referendums held in Bristol, Norfolk, Danville, and Portsmouth were all successful. 

Richmond voters, however, rejected the idea of having a casino in the city two times in 2021 and 2023.

Ever since the Petersburg City Council has attempted to gain the right to a similar referendum to ask residents if they would like to have a casino resort in the town. 

Since Richmond’s casino prospects appear to be close to zero, state lawmakers appreciated the idea of seeing Petersburg qualify for sports betting, slot machines, and table games.

The Senate Bill’s chief patron, Senator Lashrecse Aird, together with Senator Louise Lucas, has played a crucial role in advocating for the city’s inclusion “as a host city in General Assembly legislation.”

According to the City Council, the legislative milestone accurately showcases the “collaborative efforts between Petersburg officials and Senator Aird in advancing the bill” and encourages local community members to engage and show support for it. 

The Resort Would Include a Casino and 500 Hotel Rooms

The Petersburg RFP features a number of detailed guidelines and recommendations, including a mandatory casino, at least 500 four-star hotel rooms, retail shopping, dining and drinking venues, as well as an entertainment venue.

Petersburg would also only partner with a reputable casino brand with a proven record of financial sustainability and success. 

City councilors have also expressed their preference to see the hotel component featuring two separate offerings from well-known hoteliers.

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The plan to establish Petersburg, Virginia, as the state’s fifth city to host a casino has inched one step closer to realization. The odds have increased as the Virginia Senate cleared a bill that would possibly greenlight a casino in the city.

Senate Bill 628 seeks to redefine the criteria for a host city and discard the existing population threshold. Additional adjustments to tax-exempted real estate, poverty and unemployment rate criteria could make a Petersburg casino something more than just a dream.

Senate Bill 628 has some influential backers, increasing its chance of success. Proposed by Senate President Pro Tempore Louise Lucas and Senator Lashrecse Aird, the bill continues the legacy of Morrissey and Del. Kim Taylor who previously championed the cause.

Senate Bill 628 Secured Unanimous Support in the Senate

Senate Bill 628 received unanimous support from the Senate Finance and Appropriations Committee earlier this week. Now, the bill has also cleared the Senate, securing the approval of all 40 Senators.

After passing the Senate by a landslide, the measure will now go to the House of Delegates. If passed it would move to Governor Glenn Youngkin’s desk for final approval. While Youngkin has not been very vocal on his thoughts on the matter, many believe that he would sign the bill into law.

If so, this would potentially end a several years-long battle to allow Petersburg to have a casino. The initial proposal was launched in 2021 but failed to gain much support. Since then, several efforts have been made to turn Petersburg into a gambling destination.

In the meantime, the Petersburg City Council allowed City Manager John Altman to inquire about potential interest from casino operators.

In December 2022, the Petersburg City Council voted in favor of a contract with The Cordish Companies to build a $1.4 billion casino resort facility. However, this agreement attracted a lot of animosity, which is why the Petersburg City Council now plans to instead hold a competitive bidding process.

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