Supporters of the mixed-use project say that it will generate about 1,400 jobs permanently, increase Tourism, and bring billions to Virginia‘s economy. More than 80% () of Petersburg voters have approved a local referendum that will allow the casino to be built in November 2024 on a 100-acre undeveloped site near Interstate 95.
Smith and Cordish have partnered to develop the resort. The groundbreaking was celebrated by city and state officials on Wednesday.
Smith, a developer and NFL Pro Football Hall of Famer, said that it was a great source of pride and satisfaction to be able to work on this amazing development. “For too long people have driven past the city of Petersburg. Today marks the beginning a new era where Petersburg will be a premier destination.”
Smith claims that the project will boost tourism, provide jobs and give local families more opportunities and upward mobility. As a champion for Petersburg and its citizens, I’m confident that this historic project will empower, enrich and uplift this community in the years to come.
Live! According to a press release, the casino is set to open in 2027. Casino & Hotel Virginia will open in 2027. The site will have more than 450,000 sq. ft. of gaming and accommodation. The site will include 75,000 square foot of meeting, entertainment and convention space. It will have 1,600 slot machines and 65 live-action tables, as well as high-limit slot and table areas.
By the end of this year, a temporary gaming facility in Petersburg will be opened with 75,000 square foot of gaming space. It will include 900 slot machines, 33 table games that are played live, a restaurant, and a bar.
According to a press release by Cordish, it is estimated that the resort will generate $2.8 billion of economic stimulus for the region. This includes $504 million tax revenue including $240 millions to the City Petersburg. It also expects to provide $802 million worth of economic benefits to the area during construction and $201 million annually after the resort opens.
“Live! Smith stated that the Casino & hotel will be a transformational development, bringing a world-class entertainment and gaming experience to millions visitors. It will also create new jobs for thousands of people and bring millions in economic benefits that will benefit generations. We look forward to having an immediate impact in the region by building a temporary gaming center that will be operational by the end of 2025. This will allow us to start creating jobs, vendors and economic benefits for our city.
Virginia currently has three casinos in operation: Rivers Casino Portsmouth is the first permanent casino in the state; Hard Rock Bristol Casino opened in November , and Caesars Virginia Casino in Danville opened in December .
In February, Boyd Gaming and the Pamunkey Tribe began construction of the long-delayed Norfolk Casino.
The four casino projects passed by local referendums in 2020. However, Richmond voters rejected the Urban One casino in 2021 and in 2023. Virginia General Assembly legislators passed legislation last year that allowed Petersburg to host a gambling facility, pending the approval of voters in a referendum held on November’s ballot. Richmond was barred from a third attempt. Casino laws in Virginia limit the number of casinos per city to five: Bristol, Danville Norfolk Portsmouth, and now Petersburg.
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