Virginia Voters Approve Cordish Casino in Petersburg
Voters in Petersburg, Virginia, have given overwhelming support to the construction of a new casino and entertainment complex, a $1.4 billion development proposed by The Cordish Companies and Bruce Smith Enterprise. According to initial election results from November 5, with all seven precincts reporting, nearly 82% of Petersburg voters approved the referendum to bring the Live! Gaming & Entertainment District to their city.
An election voting campaign logo overlaid on the US map. (Source: Metro Creative)
LISTEN TO THIS ARTICLE:The planned casino and entertainment complex is expected to be situated on a 92.5-acre site along Interstate 95 at Wagner Road, near Brasfield Parkway. The development will feature a mixed-use space designed not only for gaming but also for a wide array of entertainment options and amenities.
Related: Casino Plans for Petersburg, Virginia, Take a Step ForwardCity officials and developers hailed the voting outcome as a victory for Petersburg's economic future. Shortly after the polls closed, representatives from Cordish and local authorities celebrated the strong mandate from residents, indicating a community-wide readiness for the changes that this large-scale development promises. As project leaders noted, this result reflects local support for efforts aimed at bringing new jobs, increased tourism, and expanded economic opportunities to the area.
Prior to the Petersburg vote, nearby Richmond faced two unsuccessful attempts to approve a casino within its city limits, with voters rejecting the proposals. Petersburg's decision to embrace the project contrasts with Richmond's outcomes and highlights differences in community sentiment between the two cities.
This decision makes Petersburg eligible to become the fifth city in Virginia to operate a casino, joining other locations in the state that have seen a recent push to expand gambling operations under new state regulations.
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A Major Boost to the Local Economy
According to The Cordish Companies, the Live! Gaming & Entertainment District is projected to bring substantial economic benefits to Petersburg and the surrounding region. The company estimates that the development will generate more than $10 billion in total economic impact over its lifetime.
Projections also indicate that the project will lead to the creation of more than 10,000 jobs. In addition, it will produce substantial tax revenue for the state project, achieving approximately $1.1 billion in total tax revenue.
The approval of the casino project is seen as a major step forward in Petersburg's economic revitalization efforts. City leaders have been actively seeking ways to boost the local economy and create job opportunities, and this project is expected to play a central role in those initiatives.
With certification of the vote expected soon, city planners and project leaders are likely to begin the initial phases of the development process, such as zoning adjustments and site preparation. If these forecasts hold, the development could mark a turning point in Petersburg's economic landscape by providing residents with a source of employment and helping the city position itself as a desirable destination for tourism and entertainment.
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