Petersburg Voters Approve Casino Project Expected to Transform the Region
PETERSBURG, Va. — A significant milestone has been reached in Petersburg, where local voters have overwhelmingly approved a new casino project. With approximately 80% of residents casting their vote in favor, the Live! Casino Resort is set to potentially infuse $2.8 billion into the region over the next decade, marking a monumental shift for this historically rich city.
A Community-Driven Decision
The results of the vote were met with enthusiasm from city officials. Mayor Sam Parham expressed his gratitude for the community’s support, noting, “We got an overwhelming result… It really shows what can happen when the mayor and city council come together as a unit.” This collaborative spirit among local governance has evidently resonated with residents, who see the project as a beacon of economic growth and opportunity.
Location and Scale of the Resort
The Live! Casino Resort will sprawl over 92 acres near the intersection of Wagner Road and Brasfield Parkway. This site has been strategically chosen to maximize accessibility and visibility, positioning the casino as a major hub for entertainment and tourism in the region. According to Bruce Smith, co-developer of the project and a Pro Football Hall of Fame member, the community’s affirmation of this project reflects hopes for a transformative impact on the city’s future.
Economic Impact and Job Creation
Developers have high expectations for the casino, anticipating substantial economic stimulus within its first decade. Here are some key projections:
- $2.8 billion in economic stimulus for the region.
- $504 million in tax revenue, which includes $240 million earmarked specifically for the City of Petersburg.
- $802 million projected in economic benefits during the construction phase.
- $201 million in annual economic benefits after opening.
- The creation of over 7,500 jobs, encompassing both construction and permanent positions.
This influx of revenue and employment opportunities is expected to reinvigorate Petersburg’s economy and enhance the quality of life for its residents.
Features of the Live! Casino Resort
Upon completion, the Live! Casino Resort is slated to become a premier destination, featuring:
- 400,000 square feet of state-of-the-art gaming, hotel, and dining spaces.
- 35,000 square feet dedicated to meeting and convention facilities.
- An upscale hotel with 200 rooms, including 20 suites, a resort-style pool, and a modern fitness center.
- 1,600 cutting-edge slot machines and 46 live-action table games, including a specialized poker room.
- High-limit gaming areas, a sportsbook, and a 3,000-seat entertainment venue.
- Diverse dining options, with 8 restaurants, including spaces allocated for local Petersburg businesses.
These carefully curated offerings aim to create a well-rounded experience for visitors, satisfying a variety of tastes and preferences while also supporting local entrepreneurship.
A New Dawn for Petersburg
“This community has waited a long time for an economic development project of this size and scale, which will provide a huge boost for the City and the entire region,” remarked Zed Smith, Chief Operating Officer of The Cordish Companies. His words echo the sentiment shared by many residents who view this casino as a catalyst for long-awaited change in Petersburg.
As construction is set to begin, the anticipation within the community grows. Residents hope that this significant investment will usher in a new era of prosperity, revitalizing the city’s economy and enhancing its status as a regional destination for entertainment and tourism.
In summary, the approval of the Live! Casino Resort represents not only a decisive vote by the residents of Petersburg but also a hopeful stride towards economic revitalization, job creation, and community engagement. As the city looks to the future, the successful execution of this project will be watched closely as a blueprint for similar initiatives across the nation.
