Several years after Petersburg joined the fight for the right to operate Virginia’s fifth and final casino, residents and city leaders watched Sunday as five developers bid to show that they had the best project for the city.
Each proposal promised jobs, an economic spur for the financially stressed city and millions of dollars in tax revenue.
In soliciting bids, the city required applicants include a casino, destination resort, retail shopping, dining and drink options, an events center and a hotel with at least 500 rooms with a preference for two 4-star hotels.
Would-be operators said their plans would be revolutionary for city residents. Among other things, they offered to hire Petersburg workers first, use local restauranteurs and prioritize union labor for construction and operation.
Sen. Lashrecse Aird, D-Petersburg, who has championed the push for a casino license in the General Assembly, said the ultimate project would be a partnership between the operator, city and community.
“What we are talking about today is a significant economic development investment,” Aird said. “Some who know nothing about this community like to say that this is a city that has been forgotten or left behind, that simply is not true. That is represented by this room today.”
Aird’s legislation, Senate Bill 628, pushed to have Petersburg replace Richmond as the fifth and final eligible host city in Virginia. State lawmakers are scheduled to make the final vote for approval Wednesday, before it goes to the governor’s desk for the final signature.
Petersburg first pushed to bring a casino to the city after Richmond voters rejected a referendum to bring a casino into South Side. Petersburg announced in 2022 that it would partner with Cordish as its operator for the project.
Proposals mostly favored locations along Interstate 95 as a way of capturing more business.
Casino plans
Penn Entertainment: Plan to build on a site just off the Rives Road exit of I-95. The proposal includes a 5-story, 200-room hotel with 29,000 square feet of convention space, an 8,000-seat amphitheater, resort-style pool, resort and spa with fitness center and retail. The company said it would hire 1,000 team members and is partnering with LiveNation.
The Cordish Companies: Returns to the city with a $1.4 billion bid on a 92-acre site in the southern end of the city just off I-95. The company said it would hire 1,300 gaming positions and the site would include two hotels, 1,000 residential units, 1,600 slots, 46 table games, a 15-table poker room, 35,000 square feet of conference space and a 3,000-person entertainment venue.
Rush Street: The developer behind the Rivers Casino brand entered with a bid for one of their casinos, which would include housing, in addition to the casino, a hotel, retail, dining, and an event center on a 75-acre site with close proximity to U.S. 460, I-95 and I-295.
Bally’s: The company proposed its 18th casino, and first in Virginia, which is planned to have 800 slot machines, 25 table games, 2,300 positions and 500 rooms at a multi-branded hotel, plus a 2,000-seat entertainment center. The site would be bisected by Rives Road just off of the I-95 exit, with a 22-acre northern parcel and 28-acre southern parcel.
Warrenton Group: The company unveiled a plan in partnership with the Upper Mattaponi Indian Tribe that would create a casino on Crater Road, next to the city’s Walmart. The proposal included 1,600 slot machines, 50 table games, a 200-room hotel and workforce development housing.
The proposal from Warrenton group included a plan for a second “gateway” to the city, which would redevelop Pocahontas Island, one of the nation’s oldest free Black communities.
Petersburg’s initial resolution outlined a strategy for using the influx of tax revenues. Without knowing the final number for tax revenue, the city planned for an income of $60 million up front, plus $5 million per year across the following four years.
It planned to use those funds for $19 million in infrastructure improvements, a $15 million recreation center including a pool, a health and community hub, upgrades to city parks, a new animal shelter and first-responder equipment.
Annual revenue was scheduled to be split among the schools, community wealth building, capital investments, operating funds and economic development.