Petersburg Voters Approve $597 Million Casino Project

Petersburg, Virginia is set to transform its entertainment landscape after voters overwhelmingly approved Cordish Companies’ plan to build a $597 million casino. With an impressive 81.5% in favor, residents made it clear they’re ready to welcome a world-class Live! Casino complex, which promises not only gaming but significant economic revitalization. After Richmond’s repeated rejections of a similar proposal, Petersburg seized the opportunity, paving the way for new jobs, tourism, and revenue. Discover how Petersburg’s newest venture is expected to reshape the city’s future.

Petersburg, VA Voters Approve $597 Million Cordish Casino Project by Wide Margin

Petersburg, Virginia, took a historic step toward economic revitalization on November 5, 2024, as voters decisively approved a $597 million casino project proposed by Cordish Companies. With an overwhelming 81.5% of residents voting in favor, the city gave its official nod to the construction of a Live! Casino, which will be built on 92 acres in south Petersburg.

The journey to bring a casino to Petersburg has been a winding one, marked by Richmond’s repeated rejections of similar projects. In 2021 and again in 2023, Richmond residents voted against a casino, creating an opportunity for Petersburg to step in and claim the title of Virginia’s fifth gaming city.

Key Points of Petersburg’s Casino Approval

1. Massive Community Support
   The referendum saw impressive support, with 10,265 votes in favor versus 2,325 against. The overwhelming approval reflects Petersburg’s enthusiasm for economic growth, jobs, and tourism potential. For many, the casino represents a critical opportunity to revitalize the area and offer new entertainment options that will attract visitors from across the state.
2. A Strategic Addition to Virginia’s Casino Landscape
   The casino’s approval makes Petersburg the fifth city in Virginia to move forward with a brick-and-mortar casino. The Virginia legislature initially approved five cities for casinos—Bristol, Danville, Norfolk, Portsmouth, and Richmond—back in 2020. So far, Hard Rock, Caesars, and Rivers casinos have opened in the other cities, while a Boyd Gaming-Pamunkey Tribe joint venture recently began work on a $750 million casino in Norfolk. Now, Petersburg is set to join these ranks, with Cordish Companies leading the charge on what will be a two-phase, $597 million development.
3. Cordish Companies’ Vision for Petersburg
   The proposed Live! Casino complex by Cordish will span two development phases, bringing not only a casino but also a luxury hotel and entertainment complex to the area. This expansive project aims to deliver a comprehensive entertainment destination that appeals to locals and tourists alike. Cordish, known for its premier Live! Casino brand, has a strong track record in delivering high-quality gaming and entertainment experiences, positioning Petersburg to become a regional attraction.

The Path to Approval: A Bumpy Road

While the Petersburg casino project has garnered strong local support, the path to approval wasn’t without obstacles. After Richmond’s initial rejection, Petersburg legislators quickly pursued the chance to host Virginia’s fifth casino. However, state lawmakers granted Richmond a second vote, meaning Petersburg had to wait. Only after Richmond’s 2023 rejection did Petersburg move forward with a casino proposal, eventually securing state approval for a referendum.

The bid selection process itself faced controversy. After an initial request for proposals (RFP) attracted bids from prominent companies like Bally’s, Penn Entertainment, and Rush Street, the city council opted for a no-bid process, awarding the contract directly to Cordish. The decision faced backlash, and a union lawsuit challenged the process, but the council maintained its selection, approving the referendum in July 2024. The Virginia Lottery later cleared the proposal for a public vote, ultimately allowing Petersburg residents to decide the casino’s fate.

What’s Next for Petersburg’s Casino?

With voter approval secured, Cordish Companies can move forward with plans for the Live! Casino complex, anticipated to generate substantial economic benefits. The project promises hundreds of jobs during construction and in casino operations, along with new revenue for public services. The development is projected to draw thousands of visitors, boosting local businesses and revitalizing tourism in Petersburg.

The city council’s backing, combined with public support, has paved the way for a promising venture that could position Petersburg as a top entertainment destination in central Virginia. Construction is expected to begin soon, with the casino set to open in phases over the coming years.

Petersburg’s decisive approval of the Cordish Companies’ casino project marks a turning point for the city. This high-profile development not only signifies economic opportunity but also reflects the city’s readiness to embrace tourism and job growth. As Cordish embarks on this transformative project, Petersburg is positioned to become a vibrant entertainment hub, attracting both local residents and visitors from across Virginia. With its new casino on the horizon, Petersburg is well on its way to realizing a future filled with growth, opportunity, and revitalization.