Petersburg approves the casino that Richmond rejected

After being rejected twice by Richmond residents, Petersburg became the fifth Virginia locality to approve a casino on Tuesday night. With all in-person votes counted, the casino had 81.53% approval.

Petersburg’s approval percentage surpassed the other four localities that approved casinos in the 2020 election (Bristol 71.14%, Danville 68.73%, Norfolk 65.06%, and Portsmouth 66.75%).

The Cordish Companies, partnering with NFL Hall of Famer Bruce Smith, were selected as the operators of the casino. The $1.4 billion gaming casino and resort will be built on a 92.5-acre space off Interstate 95 and Wagner Road along Brasfield Parkway. 

“This is a once in a generation opportunity for the city of Petersburg,” said Zed Smith, Chief Operating Officer of The Cordish Companies. “... So it’s really an opportunity to put Petersburg on the map as a destination and that’s what we’ve done across the country in multiple cities. So the opportunity really belongs to Petersburg because they voted yes tonight and it’s their win as well as our win.” 

Smith said they focused on educating citizens and addressing any concerns or questions that they may have about the casino and how it would benefit the city. He attributes that effort to the success of getting the approval from Petersburg residents. 

Only 18.47% of Petersburg residents voted against the casino. 

Now that they have the approval from the vote, they need to get approval from the Virginia Lottery, and get permits from the city. According to Smith, if all goes well, they will be on track for breaking ground in the first quarter of 2025 with “first phase opening” in 2026. 

The first phase is multifaceted, according to Smith. It includes entertainment, retail, gaming, a hotel, and conference space. 

“I think we’ve viewed this as a partnership with the city,” he said. “We’ve been involved with the city for the last three years. We’ve cultivated a relationship with not only the leadership here, but also the city itself and the citizens. 

“I think it’s a culmination of believing in the city as a comeback city. The potential of the city, the people of the city, the vibrancy, the history, all those things kind of come together. I think that’s what the residents and citizens voted on was just that confidence that they believe in us and they believe in this opportunity to change the tide for your city.”