Development plans for the Live! Casino Virginia

New Casino in Petersburg Industry

Virginia Voters Approve New Casino in Petersburg

By Will Brown Contributor Updated: 13 November 2024

Will Brown Contributor

William Brown is a Content Writer with strong expertise in US and global gambling industry trends. Having covered the local sports betting market since the repeal of PASPA in 2018, William approaches his gambling guides with passion and diligence. He is a keen player of online slots, blackjack, and a regular sports bettor.

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Residents in Petersburg, Virginia have overwhelmingly approved the construction of the state’s fifth casino, with more than 81% voting in favor of the referendum. The approval will result in a $1.4 billion development project that is set to revitalize the local economy, making it the largest economic development initiative in the city’s history.

The casino will be built by Cordish Companies and Bruce Smith Enterprise. The Maryland-based Cordish operates the Live! casino brand, with Petersburg’s new destination set to be branded as the Live! Casino & Hotel Virginia. It is to be constructed on a 92.5-acre lot off Wagner Road and located close to the city’s thriving pharmaceutical precinct.

Bruce Smith Enterprise is led by the Pro Football Hall of Famer and Virginia native. The Live! Casino project will mark Smith’s first foray into the casino business, and his involvement in the project is believed to be instrumental in drumming up local support.

Community Support Overwhelming

The referendum generated overwhelming support across all seven city wards, with six reporting approval rates of 80% or higher. Despite this, vocal opposition revolved around concerns about potential increased crime in the area and the casino’s potential to lure impoverished people to the city. Nevertheless, these were drowned out by the unprecedented unified acceptance of the measure.

The state has seen an explosion in casino development since the industry was approved in 2020. Portsmouth opened a Rivers Casino in January 2023, while casinos in Bristol, Danville, and Norfolk are currently under construction. The Rivers Casino generated $340 million in revenues in its first year, exceeding projections.

Petersburg’s Mayor Sam Parham celebrated the vote’s outcome, highlighting the exciting and unified approach to the initiative. “It’s really gratifying,” Parham said. “It’s showing what can happen when the mayor and City Council come as a unit. It shows what unity can do in building a city and turning a city around.”

Development Plans Include Vegas-Style Casino Resort

Designs for the casino have already been revealed, with the site containing a 400,000-square-foot luxury hotel complex with 200 rooms and suites. The gaming floor will house 1,000 slot machines, 46 gaming tables, and 15 poker tables. There will also be a 3,000-seat entertainment venue and various bars and restaurants.

However, to help the city reap immediate benefits from the casino, the project will be completed in several phases. The first will offer a full suite of slots and poker with a casual restaurant and bar. It also seeks to work with the local community in its design, with regional contractors and suppliers used to source everything from furniture to electrical equipment.

The project is expected to have profound economic benefits for Petersburg and the surrounding region. More than 7,500 jobs are projected to be created, including 1,500 casino positions with starting salaries averaging $70,000. More than $240 million in annual revenues are predicted, with $2.8 billion generated a year for the surrounding region.