Groundbreaking held for LIVE! Casino & Hotel Resort in Petersburg

PETERSBURG, Va. (WRIC) — Officials behind the LIVE! Casino & Hotel Resort in Petersburg are breaking ground on the $1.4 billion development.  

The groundbreaking comes after Petersburg city residents overwhelmingly approved the project back in November of 2024.  

The event is being held at 10:30 a.m. on Wednesday, March 19 on Brasfield Parkway near the intersection of Wagner Road and Interstate 95, directly behind the Sheetz.   

In addition to casino developers, the Mayor of Petersburg, Samuel Parham and other elected officials will be at the event to kickstart the project. Leaders said that Wednesday's event was a long time in the making.   

According to developers, construction for the casino and resort will be carried out in phases.    

According to the Cordish Companies, the company financially backing the casino and resort, the mixed-use development is expected to bring in $504 million in tax revenue, including $240 million to the city of Petersburg.  

The casino will be 500,000 square feet with over 450,000 square feet dedicated to gaming, hotel and dining. There will also be 200 hotel rooms, a resort pool and fitness center.  

Once it's up and running, officials expect the casino to bring in around $2.8 billion in revenue to the Central Virginia region.   

The casino and resort is also expected to generate 7,500 new jobs including 6,000 during the construction phase and 1,500 new permanent jobs.   

Cordish Companies said hiring preference will be given to city residents first, and then surrounding areas.  

Construction for the casino will be carried out in phases, with the resort slated to open in 2026 pending approval from the Virginia Lottery.   

Developers say the casino will have 16,000 slot machines, 65 live-action table games, high-limit slot and table areas and a sportsbook. The resort will feature 200 rooms, a pool and fitness center.  

This is a developing story, stay with 8News for updates.