PETERSBURG, Va. — A central Virginia city is working on plans to create a casino and entertainment district, with the help of NFL Hall of Famer and Virginia Beach developer Bruce Smith.
The City of Petersburg is moving ahead with a $1.4 billion gaming and entertainment project anchored by "Live! Casino & Hotel Virginia". On Wednesday, it was announced Bruce Smith Enterprise and The Cordish Companies had been selected to partner and co-develop the project.
The developers say the project will "generate billions of dollars in economic benefits and spinoff development, create thousands of new jobs and benefits to the local community, and become a major new tourist destination for the City and the Central Virginia region."
"Bruce Smith and Cordish’s experience, comprehensive project master plan and visionary approach, ideal site location, robust financial strength, and commitment to swift market entry make them the clear and unanimous choice of both our consultants and City Council," Petersburg Mayor Sam Parham said in a news release.
"Through my partnership with Cordish, I've been able to bring a group of minority investors to the table that will own a significant stake [in the project]," Smith previously told 13News Now.
The casino isn't a done deal, yet. The project must still undergo legislative approval by the Virginia General Assembly and governor, licensing by applicable Commonwealth agencies including the Virginia Lottery, and approval by Petersburg residents in a local voter referendum during the November 2024 General Election.