Richmond Casino Evaluation Panel Recommends Urban One’s $600mn Project


The $600 million ONE On line casino + Resort venture promoted by media firm City One and Colonial Downs has been actually handy by a special on line casino advisory panel to straggle forward for consideration by the Richmond City Council and residents of the Virginia city, data emerged Thursday.

If city leaders approve the proposal, this could per chance per chance then want to be accredited by voters in a citywide referendum in November. If it features a majority of yes votes, the resort and on line casino resort could possibly be the first dim-owned gambling advanced in the nation.

Based completely completely in Maryland, City One is a media conglomerate centered on urban express material. The firm owns and operates 55 radio stations around the US and the TV One cable network.

City One has tabled a joint on line casino repeat in Richmond alongside with Los Angeles-essentially based completely developer Peninsula Pacific Leisure, proprietor of Colonial Downs and the Rosie’s Gaming Emporium franchise. The latter firm also will most most likely be for the time being in the hunt for to form a on line casino in the Louisiana City of Slidell.

City One and its partner opinion to plot their on line casino on a 100-acre situation on Richmond’s South Facet, come Interstate 95. The two companies previously stated they would make investments $517 million to form the property, however essentially based completely on the latest data released on their venture, they’ve raised their deliberate investment to $600 million.

ONE On line casino + Resort would characteristic 100,000 sq. feet of gaming home occupied by slot machines, desk video games, and a sportsbook, a 200-room resort, a 3,000-seat theater, and 12 bars and restaurants, amongst assorted services and products.

A Enormous Opportunity

Commenting on the advice of City One’s proposal, Mayor Levar Stoney stated that the venture “gifts a vivid opportunity to plot a resort on line casino venture in Richmond.” The town’s high official went on that this proposed advanced gain over 1,000 steady paying jobs, generate a valuable amount of as much as date earnings for town, and keep a further financial engine in South Richmond.”

The actually handy repeat is determined to be tabled sooner than the Richmond City Council this coming Monday. Councilors are anticipated to vote by June on whether to approve the proposed on line casino opinion and its developer.

If the proposal is backed by Richmond leaders, this could per chance per chance then be assign sooner than voters on November 2. If residents of town give it the nod, this could per chance per chance then want to satisfy the requirements of the Virginia Lottery.

Richmond is the closing of 5 cities to take a local referendum on whether its voters want a on line casino after the express Legislature closing spring handed a sweeping gambling growth bill that legalized sports actions making a bet and allowed for five money-strapped cities to have the ability to add casinos and thus gain unique earnings sources. Voters in Danville, Norfolk, Portsmouth, and Bristol accredited their actually handy on line casino tasks in November 2020.

Richmond launched a question for proposals in slack 2020 and by February of this One year bought six gives from builders. The town’s specially fashioned 9-member review panel in March culled three of these proposals and in April rejected but any other.

On the stop, the flee became once between ONE On line casino + Resort and The Cordish Firms of Maryland’s $600 million Live! On line casino & Hotel Richmond.

Supply: Richmond panel recommends $600M City One on line casino proposal, Virginia Trade, Can also honest 20, 2021