Urban One has been granted a renewed opportunity to realize its ambitious One Resort + Casino project in Richmond, Virginia, as the City Council reintroduces the proposal for another referendum. The $562 million development is seen as a potential economic boost, with proponents highlighting its job-creating potential and revenue benefits for the region. After narrowly missing approval in a previous referendum, the project may now have a fresh chance to win the support of the local community.
Economic Potential and Job Creation:
Job Opportunities: Councilwoman Reva Trammell emphasized the project’s job-creation aspect, foreseeing a positive impact on employment opportunities for the area.
Revenue Allocation: Urban One’s project is expected to provide revenue streams for the city to address pressing priorities, including investments in education and the creation of new opportunities for the residents of Southside Richmond.
A Second Chance for One Resort + Casino:
Renewed Consideration: Richmond City Council has reintroduced the possibility of holding another referendum on the development.
Council Decision: The fate of the reintroduced proposal is set to be determined by Richmond City Council, with deliberations and a potential vote expected on June 12.
Referendum Process: If approved by the council, the proposal will need acceptance from the Virginia Lottery and Richmond Circuit Court before it can be included on the ballot for a public vote in November.
Project Overview:
Previous Rejection: The One Resort + Casino project faced rejection in a closely contested referendum held in November 2021.
Comprehensive Development: The proposed resort would encompass a 90,000 square-foot gaming floor featuring 2,000 slot machines, over 100 gaming tables, a competitive poker room, and a sportsbook. In addition to gaming, the facility planned to offer 250 4-Star, AAA 4-Diamond luxury rooms, with the capacity to expand to 600 rooms.
The reintroduction of the One Resort + Casino project is an opportunity to potentially bring significant economic benefits to Richmond. As the City Council considers this proposal once again, the focus remains on the project’s potential to generate jobs, enhance revenue streams for city priorities, and contribute to the economic development of the region. The upcoming decisions and referendum will play a crucial role in determining the project’s future and its impact on the local community.