Richmond, Virginia officials recommend ONE Casino + Resort
The Richmond, Virginia Resort Casino Evaluation Board has selected ONE Casino + Resort over several other casino development plans.
Richmond voters will decide whether to approve the project during a referendum vote on Nov. 2.
ONE Casino + Resort is backed by Urban ONE, a Maryland-based, African-American owned media conglomerate. If approved, the $600m gaming and entertainment site would be one of the first Black-owned casinos in the United States.
“ONE is thrilled the Richmond casino selection committee has chosen the best project with the best location and best team to develop a world-class entertainment destination in Richmond’s Southside,” said Alfred Liggins, CEO of Urban One. “Urban One and our diverse group of local investors are fully committed to creating good paying jobs with profit-sharing for employees, pathways to successful careers, and generating significant new tax revenues that can improve Richmond’s schools and fund community programs and infrastructure.”
Richmond officials chose ONE over proposals from Cordish Companies and Bally’s.
Last year Virginia lawmakers passed an expanded gaming bill that legalized casino development in five cities: Richmond, Danville, Bristol, Norfolk and Portsmouth.
Richmond, the state capital, has a metro population of 1.26m people, making it a top mid-Atlantic destination for casino operators.
Urban One has committed to $5.7bn of economic investment over 10 years including $100m in upfront and recurring voluntary payments to the city of Richmond.
ONE will occupy 2.9m sq. ft. development on 100 acres and will feature a 100,000 sq. ft. casino with 2,000 slots, 110 table games and a sportsbook.
The company has partnered with Peninsula Pacific Entertainment to run its casino.
“ONE Casino + Resort presents a tremendous opportunity to develop a resort casino project in Richmond,” said Richmond Mayor Levar Stoney. “The project will create over 1,000 good paying jobs, generate a significant amount of new revenue for the city, and establish an additional economic engine in South Richmond. I applaud the work of the Evaluation Panel in their vetting of the proposals and engaging the entire city throughout this project.”
Urban One and Richmond officials will now have to persuade voters that the casino is beneficial to the community ahead of the November referendum vote.
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