Voter Referendum for Petersburg, Va., Casino Approved in November Election

By Keith Stein,
Editor at online-gambling.com

Keith Stein Editor at online-gambling.com

As a self-starter and goal-driven, Keith took up freelance writing in 1994 and within a few years moved into a full-time journalist position in 1997 in Washington, D.C. In recent years, he has published over 100 articles that focus on gambling news, reviews, and tips and tricks to give the player a slight advantage.

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Last updated: July 15, 2024

The circuit court for the City of Petersburg approved a petition on Monday that will place a voter referendum in November’s election asking whether a casino should be permitted in the city. Petersburg residents will vote to approve or deny the development of a casino that was rejected by Richmond voters in 2021 and 2023.

Documents released on Monday by the circuit court stated the petition has been “timely and properly filed” by the City Council of the City of Petersburg. The petition requests the court order a referendum be held in Petersburg on the question of whether casino gaming shall be permitted at a 92.5-acre development site located off Interstate 95 at Wagner Road along Brassfield Parkway.

Virginia Lottery Board Approval

In a letter dated July 9, the Virginia Lottery Department approved a preliminary review of the certification package for the Petersburg casino. The Virginia Lottery has regulatory responsibilities for land-based casinos and other gambling activities in the Commonwealth.

Peterburg became an eligible host city for a casino on July 1 after Virginia Gov. Glenn Youngkin signed legislation approving the change. The city has selected PPE as its preferred casino gaming operator. PPE is a Delaware limited liability company formed on Oct. 28, 2022. PPE is described by the city as a partnership between Virginia Inspire Petersburg, LLC, an affiliate of Bruce Smith Enterprise, LLC, and Petersburg Community Development Holdings I, LLC, an affiliate of The Cordish Companies, which together will form the anticipated ownership for “Live! Casino and Hotel Virginia.”

The Cordish Companies is a gaming and real estate development company that has developed locations such as Hard Rock Hotel & Casino in Hollywood and Tampa, Fla., Live! Casino & Hotel Maryland, Live! Casino & Hotel Pittsburgh, and Live! Casino & Hotel Philadelphia. PPE will retain full equity ownership in the Petersburg casino project.

Now that the voter referendum has been approved by the circuit court, general election ballots on Nov. 5 will include the question, “Shall casino gaming be permitted at a casino gaming establishment in Petersburg, Virginia, located on an approximately 92.5-acre development site located off Interstate 95 at Wagner Road along Brassfield Parkway in the City of Petersburg as may be approved by the Virginia Lottery Board?” Voters will select yes or no on the ballot.

The court clerk will publish notice of the referendum in a newspaper in Petersburg once a week for three consecutive weeks before the Nov. 5 election.

Virginia’s Current Casino Landscape

Virginia currently has three casinos operating: Hard Rock Hotel & Casino Bristol, Rivers Casino Portsmouth, and Caesars Virginia Danville Casino. Hard Rock and Caesars Virginia are operating “temporary casinos” that will grow into full resorts.

The latest casino gaming activity report released by the Virginia Lottery on Monday shows revenue numbers dropped in June by 5%. Adjusted Gross Revenue (AGR) for June totaled $59.9 million, down -5% from May’s $62.7 million. Compared to last year, June 2024 $59.9 million AGR is up 14% from June 2023 at $52.2 million.

Virginia law assesses a graduated tax on a casino’s AGR or wagers minus winnings. The Commonwealth collected $10.7 million in taxes from casinos in June, 12% higher than the AGR in June 2023 at $9.3 million.

A fifth casino is planned in Norfolk but has been delayed multiple times due to design changes.