Petersburg Casino Referendum Approved for November Ballot
This November, voters in Petersburg, Va., will select their next U.S. president and also determine if they want to permit a commercial casino in their city.
On Monday, Judge Dennis Martin of the Petersburg Circuit Court approved the referendum wording created by the city council.
The judge's approval follows a week after the Virginia Lottery Board recognized Petersburg as a qualified host city for a commercial casino. Virginia’s 2020 commercial gaming legislation assigned the lottery agency the responsibility of overseeing casino gambling and sports wagering in the state.
Following Martin’s approval, the referendum is now set to be printed on the local Petersburg ballots for the upcoming Nov. 5 election. If a basic majority of voters approve the proposed casino, the project developers will be able to move forward with their application to the Virginia Lottery for a gaming license in the state.
Language for a Referendum
Voters in Petersburg will encounter the upcoming local ballot referendum on November 5:
"Shall casino gaming be permitted at a casino gaming establishment in Petersburg, Virginia, located on an approximate 92.5-acre development site located off Interstate 95 at Wagner Road along Brassfield Parkway in the City of Petersburg as may be approved by the Virginia Lottery Board?”
Checkboxes labeled "yes" and "no" are provided alongside the question. The exact site is where The Cordish Companies intends to construct and launch a nearly $143 million casino within a year after a successful referendum.
Cordish, the operator of Live! Casino & Hotel Maryland, located in its home state along with two casinos in nearby Pennsylvania, collaborates with Bruce Smith Enterprises, a commercial real estate company that focuses on mixed-use developments in the Mid-Atlantic region. Bruce Smith, a native of Norfolk, Virginia, was enshrined in the NFL Hall of Fame in 2009.
Cordish and Smith state that the $143 million casino is set to evolve into a comprehensive integrated resort via a following $454 million development stage. The approximately $597 million funding to develop the entertainment hub known as Live! Casino & Hotel Virginia would feature a luxurious 200-room hotel, a resort-style pool and fitness facility, 35,000 square feet dedicated to convention space, and a concert venue with 3,000 seats.
Regarding the casino, Cordish and Smith, collaborating under the name PPE Casino Resorts Petersburg, LLC, claim that the permanent gaming area will provide players with 1,000 slot machines, 23 live dealer table games, a specialized 15-table poker room, and a sportsbook.
The development team estimates that the casino resort will generate 7,500 jobs with an average salary of approximately $70K, including benefits.
Bruce Smith Enterprise was established in 2004 by the all-time sack leader of the NFL. Among the firm's prominent projects are the Mandarin Oriental Hotel, Swedish Embassy, and Harbourside Office Building, all located in the capital city. The company also developed Smith’s Landing, an apartment complex, in Blacksburg.
$1.4B Investment Proposed
In addition to the casino resort, PPE has committed to further developing the complex over the destination's initial 15 years in operation to feature a variety of mixed-use attractions. Project proposals feature a hotel not related to gaming, distinct from the casino resort, along with housing units and commercial office areas.
Cordish and Bruce Smith stated that the overall cost of the project when finished is anticipated to exceed $1.4 billion.
