Residents of Petersburg, Virginia, have made history by casting an overwhelming 80% vote in favor of a casino referendum. This significant decision will pave the way for the development of a $1.4 billion Live! Casino Resort, marking it as the highest recorded support for a casino referendum in Virginia’s history. As the city gears up for this transformative project, the implications for local economic growth and community development are profound.
The Vision for the Casino Resort
The plans for the Live! Casino Resort are ambitious and expansive. The complex is set to encompass more than 400,000 square feet dedicated to gaming, hotels, and dining, alongside 35,000 square feet for meetings and conventions. Casino-goers can expect an exhilarating gaming experience with 1,600 slot machines, 46 live-action tables, and a dedicated 15-table poker room. Further enriching the experience will be various entertainment options, including a 3,000-seat venue designed to host top-tier regional talent.
“The casino will not only create good-paying jobs for our residents but will also attract visitors statewide and beyond, stimulating local businesses,” stated NFL Pro Football Hall-of-Famer Bruce Smith, who co-developed the project in partnership with The Cordish Companies. He emphasized the positive ripple effect this facility is expected to have on Petersburg’s economy.
Economic Stimulus and Job Creation
The approval of the casino referendum is anticipated to unleash a wave of economic activity in Petersburg. Beyond the immediate construction jobs during the building phase, which will commence once the vote is certified, the resort is expected to create numerous permanent employment opportunities. The hotel will feature 200 rooms, including 20 suites, a resort pool, fitness center, and a sportsbook area, thereby positioning Petersburg as a key entertainment hub in the region.
Local businesses stand to gain significantly from the increased foot traffic. In fact, the plans include dedicating three of the dining options within the resort to local Petersburg restaurateurs, fostering economic collaboration and supporting local entrepreneurship.
Development Timeline and Future Phases
Construction on the Live! Casino Resort is positioned to begin shortly after the certification of the referendum results. Phase one of the casino is expected to herald its grand opening by early 2026, at which point Petersburg will welcome a new era in entertainment and economic vitality. The incorporation of high-limit areas and diverse dining options is just the beginning of a comprehensive plan to integrate Lee! Casino into the fabric of the Petersburg community.
Virginia’s Casino Landscape
Petersburg is now set to join the ranks of other cities in Virginia that have embraced the casino industry. In April 2020, the state’s lawmakers authorized the establishment of up to five casinos, contingent upon local approval. Previously, voters endorsed similar initiatives in Danville, Bristol, and Portsmouth, while residents in Richmond rejected two proposals, ultimately leading to the removal of the city from the original list.
As the fourth casino to formally get the green light, the Live! Casino Resort in Petersburg is strategically positioned to benefit from the growing gaming landscape in Virginia.
Poker at the Heart of the Action
Live! Casinos are reputed for their vibrant poker scenes, and Petersburg’s new establishment will be no exception. The new casino will feature a prominent poker room that aligns with the brand’s reputation for hosting daily tournaments and major poker events across its networks in Maryland, Pennsylvania, and beyond. Players can expect a thriving community for their favorite game, as the new venue promises to be an integral part of the Live! gaming ecosystem.
Conclusion
The approval of the Live! Casino Resort in Petersburg is a landmark moment for the city and the Commonwealth of Virginia. With broad community support and exciting plans for development and job creation, the casino is positioned not merely as a recreational establishment but as a catalyst for economic revival. The potential benefits extend far beyond the casino floor, promising to enhance the quality of life for Petersburg residents while attracting visitors from all over the state. As construction begins and the project unfolds, Petersburg is poised to emerge as a vibrant entertainment destination, redefining its role within Virginia’s growing gaming landscape.
