$1.4 billion casino developer by Cordish Companies coming to Petersburg – uBetMobile.com

Dave Petchy
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$1.4 billion casino developer by Cordish Companies coming to Petersburg – World Casino News

, $1.4 billion casino developer by Cordish Companies coming to Petersburg – uBetMobile.com

The initial stage of the project would include a 200-room hotel and dining and retail facilities in the 230,000-square-foot casino building. Subject to state approval of Petersburg as an eligible host city allowing casino gaming, the first phase of the project would be completed in about two years.  In 2020, the General Assembly approved casino gaming in five other cities following the voters’ approval.

Regulator’s assessment:

Voters in Richmond approved only one casino resort proposed in South Richmond in 2021. After the revision sought by Richmond, Joint Legislative Audit and Review Commission found that both cities could support Casinos. The Commission’s study, released on October 17, said that the proposed casino in Petersburg could annually generate $204 million in gaming revenue and create about 1,300 jobs. The study also assessed that a casino in Richmond would generate about $300 million and 2,000 jobs within the same time frame.

If both cities develop Casinos, the Commission said that the Petersburg facility would reduce the annual gaming revenue by $64 million and local taxes by around $4 million. Such a situation would also create 300 fewer jobs at the Petersburg casino.

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$1.4 billion casino developer by Cordish Companies coming to Petersburg – uBetMobile.com

About Post Author

Dave Petchy

I am a passionate, dedicated guy who's been living in London for 10 years now. I love good food, being creative, cycling and having fun. I'm a firm believer that anything worth achieving is worth working hard for and that you should always challenge yourself to be the best version of you possible. I work as an editor at Petchy Media – the award-winning news site that makes quality journalism accessible to everyone. I've also written for The Guardian and worked with brands like Nike, Adidas and KFC on content production projects.
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