The Cordish Companies break ground for new Virginia casino

• Live! Casino & Hotel is The Cordish Companies' world-class mixed-use resort in Virginia
• While the opening of the resort is expected in 2027, a temporary casino will open to visitors by the end of this year
• The massive project is expected to bring significant economic stimulus, generating hundreds of millions in taxes and creating new jobs

The leading gaming, hospitality and entertainment company, The Cordish Companies, joined by Bruce Smith Enterprise, announced a milestone achievement in Virginia with the groundbreaking of a massive project.

Earlier this week, executives at the two companies, accompanied by local leaders and lawmakers celebrated the groundbreaking of the new Live! Casino & Hotel Virginia.

A temporary casino is expected to open later this year

The new world-class mixed-use resort destination in Petersburg is expected to bring significant economic stimulus to the area.

Live! Casino & Hotel Virginia is part of a project that has a mind-blowing price tag of $1.4bn and is expected to create thousands of new jobs while generating hundreds of millions in tax revenue and economic benefits during and post-construction.

While Live! Casino & Hotel is expected to open its doors to visitors at some point in 2027, a temporary facility will provide a range of gaming options.

The temporary venue would feature 75,000 square feet of gaming space, accommodating 33 live-action table games and 900 state-of-the-art slots, Casino Guru News learned from a press release.

In addition, the temporary casino location would offer parking for 1,000 vehicles as well as a casino bar and a quick-service restaurant.

On the other hand, the permanent Live! Casino & Hotel destination is expected to feature more than 450,000 square feet of gaming, dining and hotel space.

The venue's upscale hotel section is going to offer 200 luxury rooms and amenities such as a gym and a resort pool.

On the other hand, The Cordish Companies newest venue's centerpiece would be the casino area which will offer 1,600 state-of-the-art slot machines.

In addition, the permanent Live! Casino & Hotel Virginia will deliver a sportsbook, 65 live-action table games and a poker room with 22 tables.

Ensuring world-class gambling experiences, the permanent venue will offer high-limit slot machines and table game areas.

Further amenities are going to include free parking and nearly a dozen food, beverage and entertainment outlets.

The city of Petersburg will benefit from $2.8bn in economic stimulus

Zed Smith, The Cordish Companies' Chief Operating Officer, shared his excitement about the latest announcement.

"Today marks a monumental day for The Cordish Companies as we expand our Live! brand into the Central Virginia region with the development of Live! Casino & Hotel Virginia," he revealed.

"Live! Casino & Hotel will be a transformative development that will bring a world-class gaming and entertainment experience to millions of visitors, create significant new jobs, and generate millions of dollars in economic benefits for the community that will provide a beneficial impact for generations," Smith added.

The opening of the temporary venue is expected to create approximately 500 new jobs while bringing new economic opportunities to Petersburg.

For the first decade of operation, the whole project is expected to generate $504m in tax revenue, of which $240m will benefit the city.

The overall economic stimulus to the region in the first decade is estimated at $2.8bn.

The new hotel and casino resort is expected to create a total of 7,500 new jobs, a figure that breaks down to 1,400 permanent new jobs and 6,100 construction jobs.

Image credit: The Cordish Companies