City of Richmond, Virginia Picks ONE Casino As Preferred Gaming Operator

 

City of Richmond, Virginia Picks ONE Casino As Preferred Gaming Operator

The city of Richmond’s Resort Casino Evaluation Panel recommended ONE Casino + Resort as its preferred gaming operator Thursday to build a casino in the Virginia city.

The panel had been deliberating between One Casino + Resort’s $517 million proposal to build in an industrial area of the city where tobacco titan Phillip Morris operated, and a $600 million proposal from Cornish Companies, which would have added to its Live!-branded casinos up and down the Eastern seaboard in the Scott’s Addition neighborhood. The city narrowed the field of applicants from four to two in April.

“ONE Casino + Resort presents a tremendous opportunity to develop a resort casino project in Richmond,” Mayor Lear Stone said in a statement. “The project will create over 1,000 good-paying jobs, generate a significant amount of new revenue for the city, and establish an additional economic engine in South Richmond. I applaud the work of the Evaluation Panel in their vetting of the proposals and engaging the entire city throughout this project.”

Mayor Stone will introduce ONE Casino + Resort’s proposal to the Richmond City Council Monday. Legislation already approved by Virginia’s General Assembly will allow the city council to petition the state court to have a voter referendum on the plan in November.바카라사이트

Virginia, which launched digital-only sports betting in January, made it legal for five cities to have brick-and-mortar casinos last November. Richmond has operated on a different timeline than Bristol, Danville, Portsmouth, and Norfolk by having a competitive bidding process and voter referendum.

Key selling points of the ONE Casino + Resort

The presentation by Urban One and partner Pacific Peninsula Entertainment in early April stressed their local ties to Richmond. Pacific Peninsula Entertainment (PEE) restored the Colonial Downs Racetrack in New Kent and operates Rosie’s Gaming Emporiums throughout the state. Additionally, P2E, which opened a corporate office in Richmond, operates the Hard Rock Casino and Diamond Jo properties in Iowa as well as Del Lao Casino in upstate New York.

During its presentation, Urban One CEO Alfred Higgins confirmed the casino would have a retail sports book, but the company has not decided on an operator.

“ONE is thrilled the Richmond casino selection committee has chosen the best project with the best location and best team to develop a world-class entertainment destination in Richmond’s South side,” Higgins said. “Urban One and our diverse group of local investors are fully committed to creating good-paying jobs with profit-sharing for employees, pathways to successful careers, and generating significant new tax revenues that can improve Richmond’s schools and fund community programs and infrastructure.”


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