The Cordish Companies sheds light on massive new project in Virginia

One of the largest and most recognizable developers of mixed-use, entertainment and casino resort destinations across the United States, The Cordish Companies, joined forces with Bruce Smith Enterprise for a new project that would bring a new gaming and entertainment venue to the City of Petersburg, Virginia. The collaboration saw the duo respond to a request for proposal from the City. The two companies presented their plans to develop a massive project with a $1.4B price tag called Live! Gaming & Entertainment District, anchored by Live! Casino & Hotel Virginia.

The site proposed for the new project is at the intersection of Wagner Road and Interstate I-95. The strategic location offers easy access to the East Coast's major north-south interstate. Similar to other projects on a such scale, the Live! Gaming & Entertainment District is expected to follow a phased opening approach. During the first phase of the massive project, a casino is expected to open its doors, creating new jobs and economic stimulus for the City of Petersburg.

Overall, the billion-dollar project is expected to generate some $2.8B in economic stimulus for the region, raising some $504m in tax revenue. The City itself is expected to benefit from some $240m in taxes alone. More than 7,500 permanent and construction jobs are expected to be created thanks to the Live! Gaming & Entertainment District project.

Zed Smith, The Cordish Companies' Chief Operating Officer, shared his excitement about the latest announcement in a statement. "We are incredibly proud to join Bruce Smith and his team to present our vision for a transformational, world-class destination in Petersburg," he revealed. Additionally, Smith said that the two companies share many of the same values, including the creation of new opportunities and jobs for local communities.

The Cordish Companies' Chief Operating Officer spoke about the company's success in developing mixed-use large-scale projects across the country. "We are committed to excellence, creating unforgettable experiences for our guests, and treating our team members and communities like family," said Smith in conclusion.

Visitors to the Live! Casino & Hotel Virginia resort destination will be able to experience the thrill of 1,600 of the newest slot machines, and place sports wagers via the venue's sportsbook. Additional gaming amenities would include a 15-table poker room, 46 live-action table games and high-limit table and slot areas.

Besides gaming amenities, the resort destination would offer a massive entertainment venue, a hotel with 200 rooms, as well as 35,000 square feet of meeting and convention space.

Image credit: The Cordish Companies