The Cordish Companies will be given the go-ahead by the Petersburg City Council to construct a $1.4 billion casino resort that will contribute to the growth of the local economy over the following 15 years. Although there have been heated discussions over the casino in the area, the Council ultimately decided to award the Baltimore business the development rights to boost the local economy.
The recent approval of the Cordish Companies’ casino project in Petersburg is a significant milestone for the city, promising to boost the local economy substantially. The project, valued at $1.4 billion, is designed to create a luxurious 200-room hotel and a vast casino space with numerous amenities. As excitement builds in the community, stakeholders are optimistic about the potential benefits this development may bring. However, challenges still loom, particularly with similar initiatives in neighboring Richmond. The competition could affect projected revenues, highlighting the importance of strategic planning and community engagement. For more updates, be sure to visit getslots-casino.com.
At Wagner Road and Interstate 95 in the southeast of the city, the new development will cover 80 acres. John March Altman, the city manager, says there are still some obstacles to overcome.
About 25 miles from the proposed Cordish facility, Richmond attempts to pass a similar casino resort project. The good news is that voters rejected the proposal outright in 2025, although there have been attempts to move the project forward.
Concerning the effects of such a choice, Cordish COO Zed Smith has been categorical, claiming that his firm would be unable to compete with another casino resort in the area.
He has expressed his continued optimism for the Cordish resort’s success and called it a “once-in-a-generation chance.”
Locals are also thrilled about the chance. According to former city attorney Michael Packer, cited by the Richmond Times-Dispatch, which published the first report, “Nothing like this has come along in Petersburg’s contemporary history.”
For the City Council and experts alike, Cordish is hardly a surprising option. The business has an excellent proven track record of running a variety of well-known brands, including Live! Casinos and Hard Rock venues. In addition to other cities, the corporation operates in Hollywood, Philadelphia, Pittsburgh, Baltimore, St. Louis, Kansas City, and St. Louis.
But if all goes as planned, Cordish will launch with a 200-room hotel and a 230,000-square-foot casino. So naturally, there will also be restaurants and retail establishments to consider, and it should take roughly two years to complete this initial project phase.
Richmond is seeking a second voter referendum on the subject this year, so the city has not given up just yet. However, voters have remained somewhat dubious about the project’s projected $214 million tax income over the following 15 years. So the Cordish property’s future is still in the air, but the project looks more likely now than it did two years ago.
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