Richmond Receives Four Casino Resort Proposals
Richmond Mayor Levar Stoney said that the city would choose the proposal which will benefit the city the most. According to him, the future casino resort will benefit Richmond not only financially, but the community as a whole by uplifting it and centering it around economic justice.
The first proposal is for Bally’s Richmond Resort, which is described as a world-class destination with hotel and casino that will span more than 1.6 million square feet.
As part of the proposal, the future facility will consist of a casino, sportsbook, hotel, resort-style pool, dining and retail outlets, as well as a flexible space for live entertainment and conferences.
The second proposal is for a $350 million casino tabled by the Pamunkey Indian tribe. Its future location is on the 5000 block of Commerce Road, about 4 miles south of the previously proposed 13 months ago facility, which is next to South Richmond neighborhoods that opposed the plan.
The third proposal was announced this week by a company called Urban One, which plans to build a $517 million casino. If their project is successful, the company says it will be a majority investor in what will be known in the future as the only majority Black-owned casino in the country.
Urban One Chief Executive Officer, Alfred Liggins said: “They’re licenses, they’re resources of the community. The people who are going to patronize these venues are consumers and citizens and taxpayers and they should absolutely have a right to participate in the up side of that and not just be customers”.
Cordish Companies Proposal
The last proposal came from Cordish Companies, which gave a $600 million offer for a future casino that would be located on the current movieland property in Scott’s Addition.
The next step, after the proposals have been submitted, is for a city panel to recommend their top proposal, and then Richmond City Council will ultimately have to vote on which one they think is best.
Richmond City Economic Development Director, Leonard Sledge said that the community’s vote is the most anticipated one, since it is also the most critical voice in the entire process.
Sledge was hired in the beginning of February by Richmond officials to help select the best project for the future casino in the Virginia capital.
The last vote would come from the community in the fall. On a referendum, they will get the chance to say if they want a casino at all. If the vote passes, the voters would have to decide on project specifics, such as gaming resort blueprint.
Source: “Multiple casino resort proposals made for Richmond”, NBC 12, February 23, 2021