 Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter! |
Gaming News
Live! Casino and Hotel Virginia breaks ground20 March 2025(PRESS RELEASE) -- Bruce Smith Enterprise and The Cordish Companies celebrated the groundbreaking of the new Live! Casino & Hotel Virginia in Petersburg. Today’s milestone officially commences construction on a transformative project that will generate billions of dollars in economic benefits and spinoff development, create thousands of new jobs, and set a new standard for gaming, hotels, and entertainment in the Commonwealth. Live! Casino & Hotel Virginia is part of a larger $1.4 billion master plan by the partnership, scheduled to be developed in phases, that will bring a world-class mixed-use resort destination to Petersburg. Executives from Bruce Smith Enterprise, The Cordish Companies, and Cordish Gaming were joined by Petersburg City Mayor Sam Parham and members of Petersburg City Council, Virginia State Senator Lashrecse Aird, Virginia State Delegate Kim Taylor, and many other business and community leaders at the project site in Petersburg. The development site, ideally located on Brasfield Parkway at the intersection of Wagner Road and Interstate I-95 just 20 miles south of Richmond, will provide easy access on and off the East Coast’s major north-south interstate. "It has been a source of immense satisfaction and pride to partner in this incredible development,” said Bruce Smith, founder Bruce Smith Enterprise. “For far too long people have simply driven by the City of Petersburg, but today marks the beginning of a new era in which Petersburg will become a prime destination. This pivotal project will ignite tourism, create jobs, and ultimately deliver on the promise of greater opportunity and upward mobility for local families. As a champion of Petersburg and its residents, I am happily confident that this historic development will uplift, empower, and enrich this community for years to come.” Live! Casino & Hotel Virginia is slated to open in 2027. A temporary gaming facility will open by the end of 2025 to immediately begin creating an estimated 500 new jobs, vendor opportunities and economic benefits for the City. In its first 10 years, the project is expected to generate $2.8 billion in economic stimulus to the region; $504 million in tax revenues including $240 million to the City of Petersburg; $802 million in economic benefits during construction; $201 million in annual economic benefits each year after opening; and 7,500 new jobs including 6,100 during construction and 1,400 new permanent jobs. Upon completion in 2027, the world-class Live! Casino & Hotel destination will feature: - More than 450,000 square feet of first-class gaming, hotel and dining space - 75,000 square feet of meeting, convention and entertainment space including a 4,000 seat state-of-the-art venue for concerts and special events from top talent from across Virginia and the greater region - An upscale 200-room hotel featuring 20 suites, resort pool and fitness center - 1,600 state-of-the-art slot machines - 65 live action table games, including a 22-table poker room - High limit slot and table areas - Sportsbook - 10 best-in-class food and entertainment options, including local partners - Free parking The temporary facility, scheduled to open by the end of this year, will include approximately: - 75,000 square feet of gaming space - 900 state-of-the-art slots - 33 live action table games - Casino bar and quick service restaurant - 1,000 free parking spots “Today marks a monumental day for The Cordish Companies as we expand our Live! brand into the Central Virginia region with the development of Live! Casino & Hotel Virginia,” said Zed Smith, Chief Operating Officer for The Cordish Companies. “Our company is a national leader in successfully developing and managing large-scale urban revitalization projects across the country. Live! Casino & Hotel will be a transformative development that will bring a world-class gaming and entertainment experience to millions of visitors, create significant new jobs, and generate millions of dollars in economic benefits for the community that will provide a beneficial impact for generations. We look forward to making an immediate impact on the region with the construction of a temporary gaming facility that will be operational before the end of 2025, so that we can begin creating jobs, vendor opportunities and economic benefits for the City.” |