Richmond Casino Project backers reveal fresh architectural concept
The developers behind Richmond’s proposed casino project recently revealed a fresh concept/design and shared new project details. The gambling-friendly project, now rebranded as the Richmond Grand Resort & Casino, will cost the developers approximately $562 million. If everything goes as planned, the project will encompass a luxurious hotel, a spa, an entertainment venue, and a spacious community park. The gaming space will offer an array of attractions, including gaming tables, slot machines, poker, in addition to a state-of-the-art on-site sportsbook.
However, the fate of the project rests with the Richmond voters, who will express their decision through voting in November this year. Proponents of the project as well as a number of Richmond leaders are quite optimistic that the planned second ballot measure will be in support of the project, after the first attempt in 2021 when it narrowly missed local voters’ approval.
Supporters of the new casino project believe that it is really essential to breathe life into the city’s economy. As per preliminary estimates, the project will generate nearly 1,300 jobs besides an inspiring $30 million in revenue for the city, all without necessitating taxpayer subsidies.
The Richmond Grand Resort & Casino is actually a collaborative effort between Maryland-headquartered entertainment company Urban One Inc. and annual the Kentucky Derby organizer Churchill Downs Inc. the two companies have reportedly meticulously crafted the new design and other details of the project through extensive dialogue with the local people. The developers emphasized this fact in their recent press release.
Emphasizing on the local connection, Urban One Chief Executive Officer (CEO) Alfred Liggins III stated, “This is a plan by Richmond, for Richmond, and when we vote yes, all of Richmond wins.”
If the project receives the green light from state gaming regulators, it will be situated in the south part of Richmond, in close proximity to a Philip Morris manufacturing facility, adjacent to the Interstate 95 (I-95).
Several years ago, Virginia legislature opened the doors for five economically depressed cities, viz. Bristol, Danville, Norfolk, Portsmouth and Richmond, to accommodate commercial casinos to provide a much-needed boost to their local economic activities. All other cities, with the only exception of Richmond, have already approved the casino plans. Richmond is the last in Virginia to decide on a casino referendum to gain voters’ approval.
As Richmond’s previous casino referendum narrowly failed by a negligible margin of just 51-49 per cent, proponents are quite optimistic about the project’s success this time.