The battle over which city would get a casino, Richmond or nearby Petersburg, switched again last week when a state Senate committee voted against a bill that would have permitted Petersburg to hold a referendum approving a casino, a necessary step in the Virginia casino process. The bill had previously been denied by the Senate but later was given the OK by the House of Delegates, which sent it back to the Senate.
While last week’s committee vote put a nail into the Petersburg coffin, there’s still a chance it could be revived via the budget process, but that’s a long shot. The chief backer of the Petersburg bill, Senator Joe Morrissey, said the House of Delegates budget conferees could insert language in their bill preventing Richmond from holding a second referendum.
“It’s early in the fourth quarter, and this game is going to be won late in the fourth quarter and possibly in the last two minutes,” Morrissey said
The Cordish Companies have committed to building a $1.2 billion casino resort in Petersburg and a mixed use development in the surrounding 80-acre park. Cordish said it would not build, however, if a casino were also approved in Richmond.
Cordish officials hold out hope that the Petersburg effort will be successful.
“Our $1.4 billion urban revitalization project would be transformational for Petersburg, with 4,000 new jobs and millions of dollars in additional local and state tax revenue,” Zed Smith, Cordish’s chief operating officer, said in a statement. “As the General Assembly continues its deliberations, we hope the state’s elected leaders will explore every avenue to help provide this major economic development boost to Petersburg.”
Richmond, meanwhile, now has the opportunity to hold a second referendum on a proposal by Urban One and Churchill Downs that would build a $565 million casino there. The first one was narrowly turned down, but Richmond officials reportedly have new information and tactics that they hope will turn the vote.
A joint statement between Urban One and Churchill Downs said: “We appreciate the General Assembly’s careful, deliberate process and open mind in considering and addressing this important decision. For us, the process has always been about determining what is best for the commonwealth, and that answer has always been quite clear. Every study conducted has consistently revealed that a casino resort in Richmond will generate the most jobs, revenue, opportunity and economic benefits for the city, Central Virginia and the entire commonwealth.
“Now, we turn our attention to a successful referendum in November. We are eager to share our vision for this project and its many benefits including thousands of quality jobs, millions for schools and tax relief, and revitalization of neighborhoods that have too often been left behind.”
