Richmond Casino Ballot Approved, Residents to Decide $600M Resort Fate
The Richmond gambling casino ballot referendum testament go before metropolis voters during the Nov 2 election.
The capital of Virginia Circuit Court made it functionary last-place week past signing cancelled on a petition from the City Council seeking to authorise the election question. The court’s Aug 4 conclusion was made public this week.
The court ruled that the petition was filed decently pursuant to urban center code, and the referendum is officially ordered to occur during the Nov election. Voters testament be presented the next question:
Shall cassino gaming follow permitted at a cassino gaming establishment inward the City of Richmond, Virginia, at 2001 Walmsley Boulevard and 4700 capital of New Jersey Avenue, Richmond, Virginia 23234 as may follow sanctioned by the Old Dominion State Lottery Board?”
Voters can select “Yes” or “No.” If a unsubdivided bulk say “yes,” ONE Casino + Resort testament follow authorized to make its proposed $600 one thousand thousand structured holiday resort cassino simply south of the Philip Gouverneur Morris baccy plant.
ONE Casino, Many Investors
Richmond’s casino developer has no previous go through underdeveloped a casino. Instead, Urban One is a publicly traded media conglomerate that caters to Black America.
Urban One’s development partner, however, is no fledgeling to the gaming industry. The accompany has aligned with Peninsula Pacific Ocean Entertainment (P2E) in scheming and provision the capital of Virginia property.
P2E, based inwards California, operates casinos inwards New House of York and Iowa, as considerably as quint Rosie’s Gaming Emporiums inward Virginia that feature historical horse racing machines. P2E is also a nonage investor inward MGM National Harbor, located exterior the nation’s uppercase inward Oxon Hill, Md.
Urban One and P2E say they testament commit $600 million to establish a 100-acre leisure time complex. It would be highlighted by a 250-room holiday resort hotel and 100,000-square-foot gambling casino trading floor equipped with 1,800 slot machines, 100 table games, and sportsbook.
Urban One and P2E are leading the ONE Casino development effort. But the project involves a large grouping of “diverse investors,” the casino website explains.
“ONE has a large chemical group of various investors, providing opportunities for minority ownership and including mental representation across Richmond. ONE is near lifting people upwards and building wealthiness within the Richmond community,” the website states inward its itemization of 50 individuals invested inwards the endeavor.
Fifth Potential Casino
Virginia legalized commercial gambling last-place year, but only for economically troubled cities. Five such areas met a slew of criteria that afforded the cities the right hand to permit its people to determine whether to usage a casino resort as an economical engine.
Norfolk, Portsmouth, Bristol, and Danville apiece held ballot referendums during the November 2020 election. And all quaternary cassino questions gained decent bread and butter to go the resort hotel proposals forward.
Officials inwards Richmond opted to waiting a year, as the Old Dominion State capital metropolis received robust interest. The ONE Casino + Resort plans thump out several other pitches, including from Bally’s, The Cordish Companies, Golden Nugget, Wind Creek Hospitality, and the Pamunkey Native American Tribe.
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