• Mon. Jun 14th, 2021

Richmond On line casino Proposals Arrive, Cordish Pitches $600M Gaming Resort

ByBet-Now

Feb 23, 2021

Posted on: February 22, 2021, 01:57h. 
Final up to date on: February 22, 2021, 02:08h.

Devin O’Connor Learn Extra

Voters in Richmond, Virginia, will resolve subsequent November whether or not they wish to authorize a on line casino resort to ignite financial development within the state capital.

The Robert E. Lee Monument is seen right here in Richmond. Metropolis residents will resolve if a on line casino resort will come to the capital metropolis sooner or later. Bids are arriving from builders. (Picture: The Richmond Publish)

The native poll referendum will embody specifics on the on line casino to permit voters to make an knowledgeable resolution. The Richmond Division of Financial Improvement is dealing with the bidding course of, and schemes are arriving from on line casino operators.
The Cordish Corporations has, up to now, submitted the biggest funding. The Maryland-based on line casino and hospitality agency has pitched its plans to assemble a $600 million improvement within the Scott’s Addition Historic District in downtown Richmond.

The challenge, named Stay! On line casino & Resort Richmond, features a gaming ground measuring 250,000 sq. toes, a 300-room lodge, and dwell leisure area with capability for 4,000 individuals.

The focused web site is presently occupied by the Movieland theater advanced. Proprietor Bow Tie Companions has provided to promote the 17-acre web site to Cordish.
Cordish owns and operates three Stay! casinos in Maryland and Pennsylvania. The corporate opened its $700 million Stay! On line casino & Resort Philadelphia earlier this month.
Different Richmond Pitches
Cordish isn’t the one on line casino operator that has submitted a on line casino blueprint to officers in Richmond. Over the weekend, a Black-owned media conglomerate based mostly within the nation’s capital introduced the town with a $517 million on line casino plan.
City One, a publicly traded conglomerate with a mission “to be probably the most trusted supply within the African-American group that informs, entertains, and conjures up,” has partnered with the mum or dad group of Colonial Downs and Rosie’s Gaming Emporium venues.

The City-Colonial bid targets a location in South Richmond throughout the James River from the capital space. The property would include a smaller on line casino and lodge — 90,000 sq. toes of gaming area and a 150-room lodge. An leisure venue would accommodate 3,000 individuals.

The Pamunkey Indian Tribe, which is already underneath improvement for a on line casino in Norfolk, can be in search of licensure in Richmond. It, too, is concentrating on South Richmond. The tribe has not but formally unveiled its on line casino pitch. However the Richmond Occasions-Dispatch studies that the overall sentiment among the many predominantly Black neighborhoods within the space is that the City One proposal is most well-liked.
City One is just not a foreigner to the gaming business. The corporate owns a $40 million, seven p.c stake in MGM Nationwide Harbor simply outdoors DC in Maryland.
Cordish Marketing campaign
The Cordish Corporations says it’s probably the most certified applicant to construct and function a on line casino in Richmond.

No gaming or improvement firm within the nation has our observe report of efficiently designing, financing, constructing and working large-scale on line casino leisure resort locations in regional markets,” stated Zed Smith, chief working officer and accomplice at Cordish.

Cordish is already annoyed in Virginia, because it believes it was wronged by Norfolk when it chosen the Pamunkey tribe as its on line casino developer. Cordish is suing the town on claims {that a} 2013 improvement settlement it entered into with Norfolk promised it gaming rights ought to Virginia legalize industrial playing. The pact was a part of Cordish’s settlement to take a position $40 million into the Waterfront District.

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