Groundbreaking ceremony for Virginia's new casino by The Cordish Companies
Rewritten Article:
Cue the excitement! The Cordish Companies and Bruce Smith Enterprise have made a big splash in Virginia with the kickoff of a mammoth project—the eagerly anticipated Live! Casino & Hotel Virginia.
Setting their sights on Petersburg, these industry powerhouses committed to a breathtaking, multi-billion investment that promises a dazzling infusion of entertainment, gaming, and hospitality to the region.
This prestigious league of gaming, hospitality, and entertainment titans marked the groundbreaking ceremony earlier this week, joined by local dignitaries and lawmakers to toast the exciting project ahead.
Bet on Fun: A Temporary Casino Coming Soon
Anticipation abounds for the opening of this world-class destination, but there's no need for impatience! Before the grand finale in 2027, a temporary casino—chock-full of excitement—will make its debut this year.
Scheduled to open ahead of schedule, this gamers' paradise boasts 75,000 square feet replete with 33 live-action table games and 900 shiny, high-tech slots. Parking for 1,000 vehicles, a casino bar, and a speedy dining spot round out its impressive line-up.
As for the live-action big event, the permanent Live! Casino & Hotel destination will be an unforgettable spectacle, dripping with luxury and polish—offering 1,600 cutting-edge slot machines, a sportsbook, 65 live-action table games, a poker room with 22 tables, and even high-limit gaming areas catering to the high-rollers.
To complete the picture, the permanent venue also encompasses sumptuous amenities like a gym, a resort pool, ample free parking, and numerous food, beverage, and entertainment options.
American Dream reincarnate: Major Economic Impact
Zed Smith, Chief Operating Officer of The Cordish Companies, couldn't contain his exhilaration about the latest addition to their Live! brand family.
"Live! Casino & Hotel Virginia is a transformative development that will revitalize the Central Virginia landscape, offering a superior gaming and entertainment experience to millions, generate significant new employment opportunities, and inject millions into the community's coffers—revitalizing the region for years to come," he raved.
The temporary casino opener marks the dawn of approximately 500 new jobs in the early stages of development, a precursor to further economic activity down the line. For the first ten years of operation, the monumental project aims to produce a staggering $504 million in tax revenue, with $240 million poised to benefit the city of Petersburg directly.
In the first ten years alone, the region can expect a whopping $2.8 billion shot in the arm via economic stimulus from the project—a figure that grows exponentially when you consider the total employment potential, with the possibility of creating over 7,500 jobs (including 1,400 full-time positions).
Image credit: The Cordish Companies
Sources:
- WAVY – Portsmouth developer reveals expansion plans for Rivers Casino hotel
- The Virginian-Pilot – Portsmouth’s Rivers Casino expansion would provide $25M in annual tax revenue, 200 construction jobs
- NBC 12 News – Big news for Petersburg: Construction starts on $1.4 Billion Live! Casino & Hotel
- The temporary casino opening is anticipated to create approximately 500 new jobs, serving as a prelude to further economic activity in the area.
- Operating the temporary casino is estimated to generate around $504 million in tax revenue over the first ten years, with over $240 million of that going directly to the city of Petersburg.
- In the first ten years, the project could stimulate an economic injection of approximately $2.8 billion into the region, with the potential of creating over 7,500 jobs, including 1,400 full-time positions.
- The Live! Casino & Hotel Virginia, which will feature 1,600 cutting-edge slot machines, a sportsbook, and high-limit gaming areas, is anticipated to offer beneficial economic benefits to the region, including job creation and tax revenue.
