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Richmond On line casino Panel Thumbs-up City One Proposal

Richmond On line casino Panel Thumbs-up City One Proposal

Richmond On line casino Panel Thumbs-up City One Proposal

The $600 million ONE On line casino + Resort venture promoted by media firm City One and Colonial Downs has been beneficial by a particular on line casino advisory panel to maneuver ahead for consideration by the Richmond Metropolis Council and residents of the Virginia metropolis, information emerged Thursday.

If metropolis leaders approve the proposal, it is going to then must be authorized by voters in a citywide referendum in November. If it beneficial properties a majority of sure votes, the resort and on line casino resort would be the first black-owned playing complicated within the nation.

Based mostly in Maryland, City One is a media conglomerate targeted on city content material. The corporate owns and operates 55 radio stations across the US and the TV One cable community.

City One has tabled a joint on line casino bid in Richmond along with Los Angeles-based developer Peninsula Pacific Leisure, proprietor of Colonial Downs and the Rosie’s Gaming Emporium franchise. The latter firm can also be at the moment searching for to build a casino in the Louisiana City of Slidell.

City One and its associate plan to develop their on line casino on a 100-acre website on Richmond’s South Facet, close to Interstate 95. The 2 firms beforehand stated they’d make investments $517 million to construct the property, however based on the newest data launched on their venture, they’ve raised their deliberate funding to $600 million.

ONE On line casino + Resort would function 100,000 sq. ft of gaming area occupied by slot machines, desk video games, and a sportsbook, a 200-room resort, a 3,000-seat theater, and 12 bars and eating places, amongst different facilities.

A Super Alternative

Commenting on the advice of City One’s proposal, Mayor Levar Stoney stated that the venture “presents an amazing alternative to develop a resort on line casino venture in Richmond.” The town’s prime official went on that this proposed complicated create over 1,000 good paying jobs, generate a big quantity of recent income for town, and set up a further financial engine in South Richmond.”

The beneficial bid is ready to be tabled earlier than the Richmond Metropolis Council this coming Monday. Councilors are anticipated to vote by June on whether or not to approve the proposed on line casino plan and its developer.

If the proposal is backed by Richmond leaders, it is going to then be put earlier than voters on November 2. If residents of town give it the nod, it is going to then want to satisfy the necessities of the Virginia Lottery.

Richmond is the final of 5 cities to carry a neighborhood referendum on whether or not its residents need a on line casino after the state Legislature final spring handed a sweeping playing enlargement invoice that legalized sports activities betting and allowed for 5 cash-strapped cities so as to add casinos and thus create new income sources. Voters in Danville, Norfolk, Portsmouth, and Bristol approved their beneficial on line casino tasks in November 2020.

Richmond launched a request for proposals in late 2020 and by February of this yr obtained six presents from builders. The town’s specifically shaped nine-member analysis panel in March culled three of those proposals and in April rejected one more.

On the finish, the race was between ONE On line casino + Resort and The Cordish Corporations of Maryland’s $600 million Stay! On line casino & Resort Richmond.

Supply: Richmond panel recommends $600M Urban One casino proposal, Virginia Enterprise, Could 20, 2021

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