Bruce Smith Enterprise and The Cordish Companies celebrate ground-breaking of new Live! Casino & Hotel Virginia in Petersburg
Bruce Smith Enterprise and The Cordish Companies has celebrated the groundbreaking of the new Live! Casino & Hotel Virginia in Petersburg.
The 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 $1.4bn 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 $2.8bn in economic stimulus to the region; $504m in tax revenues including $240m to the City of Petersburg; $802m in economic benefits during construction; $201m 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.
It will include 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 and a sportsbook.
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 and 33 live action table games.
“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.”
