Supporters of the One Casino + Resort in Richmond, Virginia, are eager for another opportunity to vote on its plans. The chances of Richmond securing the fifth Virginia casino are showing some improvement.

Petersburg, located near Richmond, remains determined to hinder Richmond’s efforts to secure the $1.4 billion Live! Casino & Hotel Virginia development project for their region. However, the bill proposing to prioritize Petersburg over Richmond was rejected by the Virginia General Assembly. Nonetheless, there is a possibility that the rival city might find a new opportunity through an amendment to the Virginia budget during the ongoing session, so it is advisable to stay vigilant.

On Election Day, November 2, 2021, the casino referendum was narrowly rejected by Richmond voters. As a result, Cordish Cos. and influential state Senator Joe Morrissey are considering relocating the Live! Casino project to Petersburg, which is located 25 miles away.

In 2020, four cities in Virginia showed strong support for the establishment of casinos. However, out of these cities, only Richmond conducted a casino referendum in 2021. Despite a fierce and intense campaign that lasted a year, the anti-casino voters emerged victorious, leading to the cancellation of the ambitious casino project.

The final vote stood as of November 10, 2021.

Despite the potential to create numerous job opportunities and generate substantial revenue for Virginia’s capital city, a narrow majority of voters concluded that a casino-resort did not align with the vision for the city of 226,000 residents.

Richmond city and Urban One are seeking a new vote in November 2025, aiming for a fresh opportunity.

Richmond casino proposals

Out of the six competitors for the project, Urban One emerged as the chosen proposal by the Resort Casino Evaluation Panel in Richmond. Urban One had partnered with Peninsula Pacific Entertainment, the parent company of Virginia’s Colonial Downs racetrack and Rosie’s Gaming Emporiums.

Out of six proposals, Richmond officials opted for the Urban One/PPE proposal, disregarding the other five. These projects varied in cost, ranging from $300 million to $650 million, and attracted prominent figures from the casino and entertainment industries.

Included in the list of suitors for the casino project were the following:

• The Cordish Cos.
• Pamunkey Indian Tribe
• Wind Creek Hospitality
• The name of the establishment is Golden Nugget Hotels & Casinos.
• Bally’s Corp.

The evaluation process concluded with The Cordish Cos. as the second-place finisher.

The proposed Live! Casino & Hotel Richmond, worth $600 million, was planned to be built on the 17-acre Movieland property. The site is situated near the Scott’s Addition neighborhood in the central area of the city. However, there was opposition from local residents of nearby neighborhoods who protested against this location.

The pitch: One Casino + Resort in Richmond

The proposed location for One Casino + Resort was Commerce Road and Walmsley Boulevard in South Richmond, which is presently owned by Philip Morris USA and spans across 100 acres.

With the support of Urban One CEO Alfred C. Liggins III, the resort had the potential to become the sole Black-owned casino in the United States.

The project, valued at approximately $600 million, would have encompassed:

• The hotel initially consists of 250 rooms, with the potential to expand its capacity to accommodate up to 600 rooms.
• A casino, poker room, and sportsbook covering an area of 100,000 square feet.
• There are a total of 2,000 slot machines and 100 table games, which consist of popular options such as blackjack and roulette.
• 15 bar and restaurants
• The event center has a seating capacity of 3,000 and hosts 200 concerts and shows every year.
• Resort-style spa and salon
• A vast expanse of 55 acres dedicated to a park and green area
• Studios for TV and radio production located on the premises.

Officials selected Urban One because of several advantages outlined in the proposal. These advantages encompassed a construction site that is ready for immediate use, minimal impact on traffic, and its location at a considerable distance from residential neighborhoods.

The advantages would have also encompassed:

• There are a total of 5,600 job opportunities available, consisting of construction and permanent full-time positions.
• The minimum starting rate is $15 per hour, while the average annual salary and benefits amount to $55,000.
• There are 50 minority investors and a 50% representation of minorities in employment.
• The city received upfront and recurring payments totaling $100 million.
• Over the course of 10 years, there will be a cumulative impact of $5.7 billion.

Mayor Levar Stoney expressed his enthusiasm for the ONE Casino + Resort project in Richmond, highlighting the immense potential it holds. He emphasized that the project would offer more than 1,000 well-paying job opportunities, contribute substantially to the city’s revenue, and serve as an additional economic powerhouse for South Richmond.

Key dates for the Richmond Casino Resort launch

While the other host cities for casinos gave their approval for casino gambling in their communities through referendums during the 2020 General Election, Richmond will be conducting its own referendum this November.

The formal proposal submission deadline for potential casino developers is on February 22nd.

On March 24, the City of Richmond decided to discard three out of the six proposals received. The rejected proposals belonged to the Pamunkey Indian Tribe, Golden Nugget Hotels & Casinos, and Wind Creek Hospitality. Moving forward, the city has chosen three finalists to consider: Bally’s Corporation, The Cordish Co., and a joint proposal presented by Urban One and Colonial Downs.

On April 21, the proposal by Bally’s Corporation was removed from consideration by officials, leaving only two contenders in the race: Urban One and The Cordish Cos.

Starting from June 1st, Richmond officials have the opportunity to submit their preferred casino partner information for a preliminary review by the Virginia Lottery.

The deadline to request a referendum for the General Election is August 2021.

Nov. 2: General Election

In the beginning of December 2021, the Secretary of State officially certified the election results.

Once the results are certified by the Secretary of State, the selected casino developer can promptly submit their application. However, it should be noted that the application process may extend for a duration of approximately one year.