Gamblers in Virginia will quickly have one other on line casino possibility. The Cordish Companies and Bruce Smith Enterprise lately broke floor on a brand new Live! Casino and Hotel in Petersburg.
The $1.4 billion undertaking consists of: 450,000 sq. ft of gaming, resort and eating area; 75,000 sq. ft of assembly, conference and leisure area together with a 4,000-seat efficiency venue; a 200-room with pool and health heart; 1,600 slot machines; 65 desk video games; a sportsbook; restaurant and leisure choices; and extra. Poker gamers can even discover a 22-table poker site.
The corporations at the moment are within the means of constructing a brief on line casino to accommodate: 75,000 sq. ft of gaming area, 900 slots, 33 desk video games, and a on line casino bar and restaurant.
Smith, an NFL Hall of Famer who spent 19 years within the league, was happy to see the undertaking kick off in his house state. Smith grew up in Norfolk and performed soccer at Virginia Tech. He based Bruce Smith Enterprises in 2004.
“It has been a source of immense satisfaction and pride to partner in this incredible development,” mentioned Smith. “For far too lengthy folks have merely pushed by the town of Petersburg, however right now marks the start of a brand new period during which Petersburg will turn out to be a chief vacation spot.
“This pivotal project will ignite tourism, create jobs, and ultimately deliver on the promise of greater opportunity and upward mobility for local families. As a champion of Petersburg and its residents, I am happily confident that this historic development will uplift, empower, and enrich this community for years to come.”
The undertaking is anticipated to open in 2027 and the non permanent facility will open by the top of 2025. Cordish says the undertaking will instantly start creating 500 new jobs, vendor alternatives and financial advantages for the town. In its first 10 years, the undertaking is anticipated to generate $2.8 billion in financial stimulus to the area, $504 million in tax revenues, $802 million in financial advantages throughout development, and 6,100 throughout development and 1,400 everlasting jobs.
The undertaking grew to become accessible to Petersburg after voters in close by Richmond rejected a on line casino proposal in 2021 and 2023.
The new property breaks floor because the state’s on line casino income jumped 36% in January to $72.3 million from $52.8 million throughout the identical month a yr earlier. That quantity climbed even higher in February, to $75.2 million. That’s a 31.2% improve from $57.3 million in February 2024.
Virginia voters legalized as much as 5 casinos in 2021 with properties now open in Bristol, Portsmouth, and Danville. Hard Rock Bristol was the most recent of these, formally opening in November. Hard Rock unveiled its new poker site in February.
Photo courtesy of Cordish Cos.
