Proposal for Petersburg Casino from The Cordish Companies

It is understood that Petersburg, Virginia, could well put itself on the map in the gambling scene after plans were submitted by The Cordish Companies for a brand new casino and hotel resort.

Details of the proposal are still very much confidential; however, it seems that one definite is that the possible new venue will be called 'Live! Casino & Hotel Virginia.'

Should everything go according to plan, it has already gained a seal of approval from Petersburg City Council, who likely recognize the many benefits that this can bring to the area.

Considerable Investment on the Table from Cordish

The proposed investment is understood to be in the region of a staggering $1.4 billion, with the development planned to play home to 200 hotel rooms, over 2,000 slot machines, 60 table games, multiple food and beverage facilities, an event center, and a sportsbook. Free parking will also be provided, with the whole development set to be spread across 670,000 square feet.

It really is a significant multi-purpose entertainment resort, which will bring considerable revenue to the area. With over a hundred new jobs likely, the local economy is certain to experience a major uptick.

While the venue is likely to receive many customers from the town residents themselves, the hotel rooms can also bring major investment from tourists. In recent years, Petersburg has suffered, with many homes abandoned as a result of the recession and a lack of employment opportunities in the area.

The city is known as a historic battle site of the civil war. It still attracts a portion of interested tourists; however, it is hoped that the casino could rejuvenate Petersburg's fortunes, providing it with more opportunities to diversify.

Optimism Expectations from Cordish

Perhaps because it has a lot of support from the city's council, Cordish's confidence in the success rate of the proposal was indicated in the immediate aftermath of the proposal coming to light.

The Cordish Companies is pleased to unveil details today for this major transformative development.
Live! Gaming & Entertainment District will be a catalyst for change and significant urban development, will transform the City by creating a thriving entertainment and hospitality attraction for the entire region, and provide first-class amenities for the local community while generating spin-off economic development, creating thousands of new jobs for area residents, and substantial opportunities for local, minority, women-owned, and veteran-owned businesses.
We look forward to continuing our work with the City to bring their vision to life.

Zed SmithChief Operating Officer The Cordish Companies

Currently, there is just one casino in the state - the Hard Rock Bristol, which opened a temporary site in the city in July, with plans to find a permanent one underway.

However, this does provide The Cordish Companies with a great opportunity to become the number one resort in Virginia, and it could well capitalize if the response is positive.