Despite Richmond voters rejecting it, there appears to be growing support for a potential new casino in Petersburg.
A casino referendum was narrowly rejected by Richmond residents earlier this month.
Urban One, in collaboration with Peninsula Pacific Entertainment, would have built the One Casino + Resort, worth $560 million, in the capital city of Virginia if it had been approved.
Is it possible for Petersburg, a nearby city in Virginia, to benefit from Richmond’s loss with the establishment of a new casino?
Officials gear up for possible Petersburg casino
Petersburg, a city situated roughly 20 miles southwards from Richmond, has an approximate population of 30,000.
Following the defeat of the Richmond casino referendum by a margin of 51.2% to 48.8%, attention quickly shifted towards exploring alternative locations for the project.
In 2020, the Virginia General Assembly granted permission to five cities in VA to organize a casino referendum. On Election Day 2020, the residents of Bristol, Danville, Norfolk, and Portsmouth overwhelmingly supported the introduction of casino gambling. Consequently, these cities will witness the emergence of diverse resorts in terms of size and design within the upcoming years.
Nevertheless, Richmond experienced a significantly more intense and controversial election period when it decided to postpone its referendum until this year. In the end, voters rejected the proposed venture, which was intended to be constructed on the Southside of the city.
However, Urban One, a media conglomerate headquartered in Maryland that owns multiple radio stations in the Richmond area, remains determined.
Local officials who support the idea of a Petersburg casino are also few in number.
Urban One not alone in Petersburg interest
According to a report from WTVR.com, Petersburg Mayor Samuel Parham has already had a meeting with Urban One officials. The report suggests that there are other entities also showing interest in the city as a potential location for a casino.
As Parham said:
“We are incredibly fortunate. Somehow, news has spread, and numerous individuals from the casino industry who were previously in Richmond have now arrived in Petersburg. We are thrilled to welcome them and enthusiastically consider the prospect of establishing a casino site here in Petersburg.”
Apart from Urban One, several other companies competed for the Richmond project. Among them were major players in the gaming industry such as Golden Nugget Hotels & Casinos, Bally’s Corp., and The Cordish Cos. Similar to the potential Richmond casino, other experienced gaming companies may also be interested in vying for a project in Petersburg.
If the referendum had been approved, Urban One would have paid Richmond $50 million annually for ten years. Parham stated that this amount would account for 50% of Petersburg’s yearly budget.
Virginia State Senator Joe Morrissey (D-Richmond) has expressed his support for the idea, citing the potential revenue stream, job creation, and tourism boost it could bring. This is particularly significant as his district encompasses South Richmond and Petersburg.
Morrissey expressed his disappointment over the failed Richmond vote, stating that the land had been barren for 150 years without any sign of growth. He mentioned to NBC12.com, “We missed out on that opportunity.” Almost immediately, he thought to himself, “Richmond’s loss is Petersburg’s gain.”
An expedited Petersburg casino referendum?
In order to secure a Petersburg casino referendum, approval from the General Assembly and governor is required. Additionally, the Petersburg City Council must also give their consent.
Morrissey is aiming to speed up the process, allowing voters to vote on a casino referendum in Petersburg by next year.
The ultimate decision would then rest upon the voters of Petersburg. If they were to reach a simple majority, the city, which hosts Virginia State University and Brightpoint Community College, would secure its resort.
According to authorities in Petersburg, the ambitious project has the potential to breathe new life into the city’s infrastructure, schools, housing, courts, and job market.
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