Richmond City Council in Virginia has decided to give the One Casino and Resort project a second chance, scheduling another public vote for November. This decision comes after an initial referendum in November 2021 narrowly failed to gain approval by just a 1,200-vote margin, with 51.4% of Richmond voters rejecting the casino proposal. If approved by the Virginia Lottery and Richmond Circuit Court, the new referendum will be placed on the November ballot.
Second Chance for One Casino:
Richmond City Council believes that a second public vote is warranted for the One Casino and Resort project. Councillor Mike Jones pointed out that the circumstances have changed, making a fresh evaluation necessary, and he expressed confidence that citizens should have the opportunity to vote on the project again. The council emphasizes that the latest proposal differs significantly from the previous one.
Economic and Commercial Considerations:
Councillor Ann-Frances Lambert highlighted the balance between residential and commercial aspects in Richmond. She pointed out that the city is primarily residential (90%) and believes that embracing projects like the One Casino is essential to enhance commercial opportunities and drive economic growth. The council is considering the broader implications for Richmond, particularly in comparison to neighboring areas like Henrico.
Urban One’s Ambitious Plan:
The One Casino and Resort project, led by Urban One, aims to introduce a 90,000-square-foot gaming floor featuring 2,000 slot machines, over 100 gaming tables, a competition poker room, and a sportsbook. Additionally, the project includes a hotel offering 250 4-Star, AAA 4-Diamond luxury rooms, with potential for expansion to 600 rooms.
Recent Gaming Revenue Report:
The Virginia Lottery’s latest report reveals gaming revenue data for March 2023 from Hard Rock Hotel & Casino Temporary Bristol and Rivers Casino Portsmouth. The state’s two casinos reported a total gaming revenue of $37.4 million, a slight decrease of 2% compared to February’s $38.4 million. This data reflects the ongoing dynamics of the Virginia gaming market.
Richmond City Council’s decision to schedule a second public vote on the One Casino and Resort project in November signifies the importance of reevaluating the proposal based on evolving circumstances. The city is focused on driving economic growth and expanding commercial opportunities to benefit its residents. As the referendum process unfolds, Virginia’s gaming market continues to adapt and evolve.