Operator News
Five operators put forward their proposals for Petersburg casino at Town Hall meeting
By Phil - 15 April 2024
The City of Petersburg in Virginia invited the five operators competing for the fifth casino license in Virginia to make their case at a town hall meeting attended by 100s or people.
Responding to the Petersburg City Council’s latest Request for Proposal (RFP) for a casino in Petersburg, The Cordish Companies, Penn Entertainment, Bally’s Corporation, Rush Street Gaming, and The Warrenton Group all put forward proposals.
Whilst the General Assembly will ultimately decide if Petersburg residents will get to vote this November on whether to bring a casino to their city, Senator. Lashrece Aird brought in potential operators to go public on their bids and to ensure a transparent process for the potentially significant economic development.
Virginia Senator, Lashrecse Aird said: “This is their opportunity to be part of the process to be included in some of the decision making. This economic development project will offer revenues that the city has not seen in many, many years.”
Penn National Gaming wants to develop a 90-acre casino and resort on Frontage Road off of I-95, which would include anESPN bet sportsbook, restaurants, a 200-room hotel, retail space, and an 8,000-person amphitheatre in partnership with Live Nation. Penn National Gaming says they are considering a 90-acre site off Frontage Road just north of Rives Road. That was the ideal location for a hotel, casino and amphitheater development.
The Cordish Companies, who Petersburg politicians had picked as a potential partner in 2022, pitched a 50/50 ownership model between the Cordish family and a group of Virginia business owners and athletes. It wants to build a casino off Wagner Road and I-95, along with restaurants, two hotels, and entertainment spaces. Cordish has partnered with NFL Hall of Famer Bruce Smith, a Norfolk native, who played for the Buffalo Bills and Washington Commanders during his a 19-year career.
Mr. Smith said: “The citizens of Petersburg have been waiting for this opportunity for generations. Although we are in the gaming business, we are also primarily in the economic development business. Our job is to bring more people to Petersburg.”
The first phase of the Cordish project would include a 230,000-square-foot casino on 650,000 square feet of entertainment and retail space, along with two hotels and 1,000 residential units. It would take around two years to complete.
Cordish executive Ed Evans said: “Our project site is shovel-ready.”
Rush Street Rivers Casino put forward a 40 per cent minority investment ownership with a casino, hotel, business and entertainment spaces off County Drive with an agreement in place with a local union group.
Rush Street Director of Development Robert Moore said: “We are a safe bet. We are the best bet.”
Bally’s will reserve15 per cent of the equity in the casino for local people with a project including a 500-room hotel, restaurants, and entertainment space on Rivers Road.
Bally’s Director of development Chris Jewitt said: “We have no conflicts of interest nearby. We have no properties within a four-hour drive of Petersburg. So we will be focused solely on Petersburg.”
Finally, the Warrenton Group and Delaware North put forward a casino off South Crater Road with restaurants, entertainment, a 200-room hotel, a workforce housing complex, a healthcare facility and a culinary training program.
Warrenton Group President and CEO Warren Williams said: “Our proposal will make real commitments to Petersburg. Petersburg has been driven past for too long.You shouldn’t need to drive past Petersburg in order to get these benefits.”
