Petersburg’s $1.4 billion casino, resort another step closer to becoming a reality

PETERSBURG, Va. (WRIC) -- The $1.4 billion casino and resort that Petersburg voters overwhelmingly approved in Nov. 2024 is one step closer to becoming a reality.

During a scheduled meeting on Tuesday, Feb. 25, the Petersburg City Council gave its final, unanimous approval of the zoning permits for the Live! Casino Resort that nearly 82% of voters asked for amid the 2024 General Election.

"Live! Casino Resort, anchored by Live! Casino & Hotel Virginia, will be a catalyst for change and significant urban development, transforming the region through the creation of a thriving entertainment and hospitality destination," said developer Cordish Companies in a press release. "The project will set a new standard for gaming, hotels and entertainment in the Commonwealth, and serve as a new world-class attraction for Petersburg and the greater Central Virginia region."

8News was in the room when the permits were approved and spoke to Petersburg Mayor Samuel Parham afterward. He shared his excitement for the casino project, which he said will break ground at 11 a.m. on March 19.

"We had a record approval for our casino with an 82% approval, the citizens of Petersburg are excited," said Mayor Parham. "We lost so much of our manufacturing and retail in the eighties and nineties, so everyone is eagerly anticipating our largest economic development project here, which is the live casino resort here coming to Petersburg."

Residents took to the floor and expressed greater advantages for law enforcement such as giving them a raise as their duties may increase with the implementation of the casino.

"We're way ahead of you—we're already meeting with the chief of the police department, and it's very common within all our operating casinos that we hire off duty police officers," Rob Norton president of the Cordish Gaming Group.

Per developers, construction will then be carried out in phases. Below are renderings provided by The Cordish Companies, meant to show what the casino resort -- which will ideally be located at the intersection of Wagner Road and Interstate 95 -- may look like once development is complete.

According to The Cordish Companies, once the casino is up and running, it will span over 500,00 square feet -- over 450,000 square feet dedicated to gaming, hotel and dining, as well as over 75,000 square feet of meeting and convention spaces.

For those looking to gamble, there will be 1,600 slot machines, 65 live-action table games, high-limit slot and table areas and a sportsbook. The Cordish Companies added that the 200-room hotel will have a resort pool and fitness center.

"Career opportunities will be available in every field including hotel operations, finance, marketing, human resources, information technologies, food and beverage, facilities, security and surveillance and gaming operations," The Cordish Companies said. "Hiring preference will be given to local residents first, then surrounding communities."

If you are interested in future employment with Live! Casino Resort, click here.

During the meeting, a bill that would have required the casino's revenue to be shared with surrounding localities was discussed. That legislation has since been withdrawn, with city leaders assuring the community that all dollars generated by the casino would remain in Petersburg.