Petersburg, Virginia, is poised for a significant decision as the city council has unanimously approved a referendum allowing residents to vote on a proposed casino. Scheduled for November 5, the referendum will determine whether casino gaming should be permitted in the city. The proposed $1.4 billion Live! Gaming & Entertainment District, which includes the Live! Casino & Hotel Virginia, stands to transform Petersburg’s economic landscape if approved.
Details of the Referendum
The referendum’s wording is straightforward: “Shall casino gaming be permitted at a casino gaming establishment in Petersburg, Virginia as may be approved by the Virginia Lottery Board?” Voters will choose between “Yes” or “No.” A simple majority in favor would pave the way for developers to seek a gaming concession from the Virginia Lottery Board.
Context and Background
This referendum represents a pivotal moment for Petersburg, which is aiming to become one of Virginia’s five authorized casino locations. The city’s push for a casino follows Richmond’s rejection of casino plans in two separate votes. In April, Petersburg’s City Council endorsed Bruce Smith Enterprise and The Cordish Companies as partners for the casino project, marking a significant step towards the realization of the $1.4 billion development.
Economic and Social Implications
If the referendum passes, the Live! Gaming & Entertainment District is expected to generate substantial economic benefits for Petersburg. This development includes the $600 million Live! Casino & Hotel Virginia, part of a larger $1.4 billion project, promising new jobs, increased tourism, and enhanced local revenue.
The project’s backers argue that it will stimulate the local economy by attracting visitors and creating employment opportunities. However, opponents of the casino may raise concerns about potential social impacts, such as increased crime or gambling addiction. The upcoming vote will be crucial in determining whether the benefits outweigh the potential drawbacks.
The decision in Petersburg contrasts sharply with recent developments in Richmond, where residents voted against casino plans. Despite Richmond’s rejection, Petersburg’s initiative has garnered significant support, suggesting a different local sentiment towards gaming. The success of the Petersburg referendum could set a precedent for other cities in Virginia considering similar projects.
Developer Involvement
The selection of Bruce Smith Enterprise and The Cordish Companies as development partners reflects a strategic move by Petersburg to ensure experienced and capable partners for the casino project. The involvement of these prominent developers is expected to bring expertise and financial stability to the venture.
As November 5 approaches, the residents of Petersburg will have the final say on whether the city will embrace this transformative project. The outcome of the referendum will not only influence the city’s economic future but also contribute to the ongoing debate about the role of casinos in Virginia’s urban development.