It was greenlighted by the city council, and will now be submited to the Virginia Lottery Board for pre-certification
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irginia’s Richmond City Council on Monday night voted 8-1 to approve the resolution to name ONE Casino Resort as Richmond’s preferred casino gaming operator for a proposed resort casino project, and hold a November referendum that will determine whether the city will permit a casino to be built.
The Urban ONE proposal was picked out of three finalists —the other two were Bally’s Richmond Casino Resort and Live! Casino & Hotel Richmond—, whittled down from six bids from interested companies. Richmond will now submit the preferred operator and site to the Virginia Lottery Board for pre-certification. Upon successful pre-certification and approval by the City Council of the full Host Community Agreement, Richmond will petition the Circuit Court to hold the November 2 voter referendum on the negotiated project.
Four months after the city received six development proposals for casino resorts, the City Council concurred with Mayor Levar Stoney’s recommendation that the city should partner with Washington media conglomerate Urban One on its $560 million casino proposal for South Richmond.
Urban One Inc., which owns and operates 55 radio stations and the TV One cable network, has partnered with Peninsula Pacific Entertainment, owner of Colonial Downs Group and the Rosie’s Gaming Emporium franchise. The casino is proposed to be built on 100 acres owned by Altria Group Inc. on the city’s South Side, near Interstate 95, an economically deprived section of the city.
Stoney made a formal proposal of the casino project to the council last month. “ONE Casino + Resort is a $562.5 million project that will create 1,300 well-paying jobs with benefits in South Richmond, and every Richmond resident will benefit from the new revenue created by the project,” Stoney said, as reported by WTVR CBS 6. “City Council’s vote tonight paves the way for every voting Richmond resident to have their voice heard on this important project.”
The project, which would mark the first casino under Black ownership in the country, includes a sportsbook, 250 hotel rooms, a 3,000-seat theater, 100,000 square feet of gaming space, and 12 bars and restaurants. Last month, a city-appointed advisory panel recommended the casino plan after narrowing the field from six proposals received in January. Urban One has said it would create 1,300 permanent jobs that would pay a minimum wage of $15 per hour, as well as an $25 million upfront payment to the city and a $5.7 billion economic impact over the casino’s first 10 years. City officials and the developer estimate approximately $30 million in annual tax revenue.
In a statement issued immediately after the vote, Urban One CEO Alfred Liggins said: “ONE is extremely grateful and proud that Richmond City Council has voted to move forward with a first-class casino and resort in Richmond’s South Side. This project will be funded entirely with private investment and will generate millions of dollars in critically needed new tax revenue that can be used for schools, affordable housing, workforce development, infrastructure and other city priorities.”
“This will be a transformational project for the city, attracting additional tourism revenue that will lift up all of Richmond and improve the quality of life for those who call this city home. At the same time, ONE will create 1,300 well-paying jobs with profit-sharing for employees and pathways to successful careers. We will also be true community partners, investing with nonprofits and worthwhile causes across the city,” Liggins added.
Richmond is the last of five Virginia cities voting on whether to allow a commercial casino, after the Virginia General Assembly voted in 2020 to allow five economically challenged cities across Virginia to have one casino per locality if approved by local voters. Bristol, Danville, Norfolk and Portsmouth all passed casino referendums last November by large margins.
