Why settle for just voting on the proposed Bally’s Richmond casino when you can also own a share in the project?
The Richmond casino project has reached its final stage, with Bally’s Corporation emerging as one of the three remaining contenders.
Bally’s Richmond Casino Resort, a casino-resort project worth $650 million, has been proposed by Bally’s.
However, prior to that, the destiny of the city’s casino referendum in Richmond will be determined by the voters on Election Day in November. In the event of its approval, Richmond will become the fifth Virginia city to have passed similar referenda in 2021, following Bristol, Danville, Norfolk, and Portsmouth.
However, what if you desire to have a personal stake in the matter? Bally’s representatives have recently unveiled a method for Richmond locals to become partial shareholders of the Bally’s casino.
Want to own Bally’s Richmond Casino?
Do you consider yourself a casino tycoon? After watching “Ocean’s 11,” did you surprisingly find yourself supporting Terry Benedict instead of Danny Ocean?
If that’s the case, perhaps you might be interested in owning a share of a casino.
Executives of Bally’s have recently made it known that the residents of Richmond will now have the chance to acquire an equity stake in Bally’s Richmond and become partial owners.
Bally’s has partnered with renowned local entrepreneur David Walton, recognized for his notable achievement in establishing the Black Pages of America. Together, they will collaborate to successfully launch and promote the crowdfunding campaign, ensuring widespread visibility and awareness.
Walton said:
Bally’s made a commitment to prioritize Richmond and ensure their casino proposal benefits the community. The equity crowdfunding program is a means for Bally’s to fulfill this promise. Its aim is to enable all residents of Richmond, not just the privileged few, to invest in Bally’s Richmond. I am eager to collaborate with Bally’s and offer my support in this endeavor.
Curbing Richmond casino opposition?
Bally’s officials find themselves on the defensive, as they are compelled to do so.
Despite the minimal opposition in other cities in Virginia, many residents of Richmond have strongly opposed the idea of a casino. This opposition is not only directed towards Bally’s, but also extends to the other two finalists.
- The Cordish Co. plans to invest a staggering $600 million in the construction of Live! Casino & Hotel Richmond.
- Urban One and Colonial Downs are collaborating on a new casino-resort project, which is estimated to have a total value of $517 million. The name for this exciting venture is yet to be determined.
The resistance primarily stems from a widespread opposition towards casinos. Nevertheless, potential operators in Richmond also face objections regarding the suitability of each casino’s proposed location.
On Monday, Bally’s successfully organized its fourth “listening” event, aiming to actively involve the local community.
According to Bally’s officials, numerous individuals not only endorse the project but also express a desire to be involved in it.
According to Michael Monty, the senior project manager at Bally’s Richmond,
After gaining a better understanding of the proposal, numerous Richmonders have shown keen interest in joining it. By offering the chance for Richmond residents to have ownership in Bally’s Richmond, we are reinforcing our strong commitment to RVA and this project. We eagerly anticipate collaborating with David Walton on this initiative and are enthusiastic about the prospect for Richmonders to possess a share of Bally’s Richmond and reap the rewards of its success as valued stakeholders.
In the coming weeks, Bally’s is set to reveal the specifics of their equity investment program.
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