Bruce Smith Enterprise and The Cordish Companies partner for $1.4bn project
The pair have a longstanding relationship dating back to 2008.
Bruce Smith Enterprise and The Cordish Companies have unveiled plans to codevelop a $1.4bn Live! Gaming & Entertainment District, anchored by Live! Casino & Hotel Virginia.
The site of the project would be in the City of Petersburg at the intersection of Wagner Road and Interstate I-95, and off the East Coast’s major north-south interstate.
The proposed project is estimated to generate billions of dollars in economic benefits, bringing jobs and benefits for the local community. On top of this project, the pair intend to open an initial first-phase casino within a year.
Once completed, the resort will feature more than 400,000 square feet of gaming, hotel and dining space, with 1,600 slot machines, 46 live-action table games, a 15-table poker room, high-limit slot and table areas, and a sportsbook.
The Cordish Companies COO Zed Smith said: “We are incredibly proud to join Bruce Smith and his team to present our vision for a transformational, world-class destination in Petersburg.
“As our development partner, Bruce shares our core values in investing for the long-term and creating jobs and opportunities for the community. No one comes close to our combined history of success and capabilities to be able to deliver a destination of this scale and complexity. The Cordish Companies’ track record for designing, financing, building, and operating large-scale mixed-use developments and casino resort destinations in the country is unmatched.
“Our success includes achieving every commitment, program, and goal in our proposals for cities across the country. We are committed to excellence, creating unforgettable experiences for our guests, and treating our team members and communities like family.”
Back in November, Rockpoint unveiled plans with Cordish and Caesars Entertainment for a Pompano Beach development project.
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