Operator News
US – City of Petersburg chooses Cordish Companies for latest Virginia casino project
By Phil - 20 October 2022
The Cordish Companies has been selected by the City of Petersburg, VA as development partner for a proposed world-class gaming entertainment destination. This evening, the Petersburg City Council unanimously chose The Cordish Companies to help realize its revitalization vision for the City.
“The Cordish Companies is honored and excited to have been selected by the City of Petersburg as development partners on this transformative project,” stated Zed Smith, Chief Operating Officer of The Cordish Companies. “Urban revitalization is at the heartbeat of The Cordish Companies’ DNA. We share Governor Youngkin, Mayor Parham and the Petersburg City Council’s commitment to create a world-class entertainment destination and mixed-use project with gaming that will generate millions of dollars in tax revenues and spinoff economic development, create thousands of new jobs and benefits to the local community, and become a major new tourist destination for the City.”
The Cordish Companies is one of the largest, most respected developer-operators of upscale mixed-use, entertainment and casino resort destinations in the United States. Its Live! brand is one of the most recognized and established entertainment and casino brands in the country. In gaming, The Cordish Companies has developed the most successful casino entertainment resorts in the U.S. including the Hard Rock Hotel & Casino Hollywood, FL; the Hard Rock Hotel & Casino Tampa, FL; Live! Casino & Hotel Maryland; Live! Casino & Hotel Philadelphia; and Live! Casino Pittsburgh. The Cordish Companies has been awarded an unprecedented seven Urban Land Institute Awards for Excellence in recognition of its urban revitalization accomplishments, more than any other developer in the world. Cordish’s revitalization initiatives in cities like Charleston, SC; the Inner Harbor of Baltimore, MD; and Kansas City, MO have served as a catalyst for broader growth and revitalization of those cities for decades.
“An important part of our evaluation was to identify a development partner with a proven track record in developing and operating mixed-use and casino properties, a long history of revitalizing cities across the country, and strong community engagement practices,” stated Mayor Sam Parham, City of Petersburg. “The development of a casino in Petersburg is a once in a generation opportunity to set the course for economic growth for decades to come. We are confident that we have selected the ideal partner in The Cordish Companies to bring to fruition our vision for Petersburg.”
The Cordish Companies has long embraced a strong approach to community integration and involvement. The Company is committed to supporting non-profit organizations in Petersburg, acting as a convener to assist community organizations and non-profits in their fundraising efforts and volunteerism, an endemic value to the Company and its team members. As a recognized leader in community outreach, The Cordish Companies has a proven track record of working with organizations in all markets where it does business to maximize opportunities for local-, women-, minority-, and veteran-owned companies and intends to make the same commitment in the City of Petersburg.
“We are excited to be involved in the Governor and state’s vision to focus a special emphasis on the revitalization of Petersburg,” continued Zed Smith. “We look forward to working with the City of Petersburg to deliver a transformative destination resort that will add new amenities to the area and draw new visitors from throughout the region to enhance the City’s tourism efforts.”
