Petersburg, Virginia: Embracing Economic Renaissance with the Approval of Live! Casino Resort
Petersburg, Virginia, is on the brink of a transformative journey following the resounding endorsement from local voters for the Live! Casino Resort. With an astonishing approval rate exceeding 80%, this monumental $1.4 billion initiative signifies a historic turning point for the city, reflecting strong community support for what is poised to be one of the most significant economic developments in Petersburg’s history.
Broad Community Support and Economic Projections
The excitement surrounding this project is palpable, especially within the local government. Petersburg’s Mayor, Sam Parham, expressed his elation at the voter turnout, stating, “It’s really gratifying. It really shows what can happen when mayor and city council come together as a unit.” This development, led by The Cordish Companies in collaboration with Bruce Smith Enterprise, is expected to inject an impressive $2.8 billion into the local economy over the next decade and create more than 7,500 new jobs.
The casino will occupy a sprawling 92-acre site near Wagner Road and Brasfield Parkway, conveniently situated just behind a local Sheetz convenience store. The ambitious project plans to unveil over 400,000 square feet of premium gaming, hotel, and dining facilities, along with a significant 35,000 square feet of meeting and convention space. The luxury hotel will feature 200 rooms, inclusive of 20 suites, and will boast a resort-style pool and fitness center, ensuring guests enjoy a top-tier experience.
For gaming enthusiasts, the offerings are expansive—a stunning 1,600 state-of-the-art slot machines, 46 table games, and a lively sportsbook will enhance the entertainment experience. Additionally, a 3,000-seat entertainment venue and eight diverse dining options—three of which will highlight local Petersburg businesses—will create a vibrant atmosphere filled with opportunity.
Visionary Leadership and Expected Economic Impact
Bruce Smith, a Pro Football Hall of Fame member and co-developer of the casino, is particularly enthusiastic about the potential outcomes. He stated, “The casino will not only create good-paying jobs for our residents, but will also attract visitors statewide and beyond, stimulating local businesses and producing an overall ripple effect of economic growth.” Zed Smith, the Chief Operating Officer of The Cordish Companies, echoed these sentiments, emphasizing, “This community has waited a long time for an economic development project of this size and scale.”
The expectations surrounding the casino go beyond mere entertainment; local leaders believe it will serve as a catalyst for broader economic revitalization, benefiting not just employment rates but also increasing tourism and nurturing local businesses.
Regulatory Path and Future Developments
With the strong voter mandate in place, the next critical step is securing the necessary permits and licenses to break ground on the construction. The first phase is anticipated to commence in early 2025, with a projected opening date towards the end of 2026. Mayor Parham is particularly focused on training local residents to ensure they are well-prepared to seize the job opportunities that will arise from this substantial development.
The casino’s projected revenues are not only aimed at sustaining the operational success of the resort but will also significantly contribute to community services. Crucially, a portion of the revenues will be channeled into funding essential services like education, infrastructure improvements, and public safety, further enhancing Petersburg’s community resources and public health initiatives.
A Pivotal Moment for Petersburg’s Future
The approval of the Live! Casino Resort represents a crucial juncture for Petersburg, promising a revitalized future filled with robust economic activity and enriched community services. As the project progresses, it stands to redefine Petersburg as a key destination for tourism and entertainment in Virginia. The long-term benefits anticipated from this development are poised to bring lasting improvements to the city and its residents, setting a strong foundation for further growth and opportunity.
In summary, the Live! Casino Resort is more than just a gaming facility; it is a beacon of hope for a city eager for revival—a transformative force destined to enhance the lives of its residents, stimulate the economy, and secure Petersburg’s place as a thriving hub of entertainment and hospitality.
