Richmond residents opposed a gaming constitutional amendment that would have allowed a casino. Yet, the city’s casino developers haven’t lost hope on establishing gaming sites in the region. They are promising voters tax revenue and jobs once they hold and pass another ballot.
Churchill Downs, Inc.’s CEO William Carstanjen held a press conference in Richmond on August 31, 2023, that Alfred Liggins, III, Urban One, Inc.’s CEO, attended. He discussed an entertainment, casino, and resort complex that will cost $562 million.
Richmond leaders are considering holding another referendum this fall. Liggins said that they are delighted to make significant progress on the project that they called the “Richmond Grand Resort and Casino.”
It will be in south Richmond, off Interstate 95, on the former tobacco company’s land. Churchill Downs and Urban One partnered to plan the project and will involve local investors.
What Does the Project Entail?
The project will offer table games, slots, and an online bookmaker. It will have a 55-acre outdoor park, dining choices, a 3,000-seat concert space, and a 250-room hotel. Still, the casino will create 1,300 permanent jobs, and most of its workers can join local labor unions.
They will get $55,000 annually on average in benefits and compensation. The project’s supporters stated that its jobs will elevate the living standards of most of the city’s residents.
Richmond reportedly made an agreement with the gaming developers that requires them to make a $25.5 million one-time upfront payment. They will pay an extra $1 million later after the referendum passes.
Besides, the developers are willing to donate $16 million to charity for a decade and are estimated to pay about $30 million annually in tax revenue.
Liggans stated that they would transform the industrial lot into an entertainment complex and a casino resort. He assured Richmond residents that they would build the property without incentives or subsidies.
Mayor Levar Stoney stated on September 1, 2023, that the gaming project will boost South Richmond’s economy for a long period. Paul Goldman, a key opponent, has created a “No Means No Casino” committee for the next gaming referendum.
Victoria Cobb, Family Foundation of Virginia’s President, leads the “Richmond Anti-Corruption League” committee. She stated that they are advocating for the city’s residents to get an opportunity to maintain a gaming-free community.
Liggans advised the project’s opponents to avoid making false assumptions, adding that people can independently make wise entertainment and financial decisions. Carstanjen disclosed that the developers want to kick off the permanent casino’s construction after the ballot in case voters pass it.
He stated that they aren’t planning to set up a temporary casino like the state’s other cities. Instead, the project’s phase one will be complete in 30 months. But they will disclose subtle details regarding its financing after the November ballot.
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