Richmond, Virginia residents recently attended virtual presentations by the three casino operators competing for the city’s gaming license: the nation’s largest Black-owned radio and media company, Urban One of Silver Spring, Maryland; casino developer and operator Bally’s Corp. of Lincoln, Rhode Island; and real estate developer and casino operator, the Cordish Companies of Baltimore.
Bally’s is proposing the $650 million Bally’s Richmond Casino Resort in South Side. The 117,000-square-foot complex is the largest of the three competitors and includes a large casino, 250-room upscale hotel, events space, concert venue, more than a dozen restaurants and other amenities. The facility would generate much of its own power through solar energy and create a green space with wetlands that will not be disturbed.
Bally’s is offering Richmond an upfront payment of $100 million plus an additional share of gaming revenue. The company also would invest $3 million a year in a program that provides vouchers for its players to spend at small businesses in Richmond.
Marc Cristafulli, Bally’s executive vice president, said the project would create 2,000 jobs paying an average of $52,000 a year and a minimum of $15 an hour. He said the project has attracted Black investors and would meet the city’s goal of 40 percent minority suppliers and vendors.
Prior to the presentation, 4th District Councilmember Kristen Larson said, “This project was proposed without any input from my office or the community. I found out about the two casinos proposed in the 4th district via the news media. While the reasons for opposition are wide ranging, access and traffic impacts for that parcel are a huge issue for the district.”
In response, Cristafulli said Bally’s would build a new entry and exit road into the property. “We listened to Council Member Larson’s feedback regarding potential traffic issues Bally’s Richmond might create, and we are pleased to have fully addressed the issue she identified.”
Still, many residents told local news shows they still have unanswered questions. Anti-casino signs are visible in the Stratford Hills area and a Facebook group with more than 500 members vows to “fight the proposal.”
One resident said Bally’s presentation “really didn’t address the concerns of citizens that are directly impacted by this. It seemed like a surprise to them that these were neighborhoods. It seemed like a real miss, like they had no concept of who lived here and who was going to be directly impacted.”
Another said, “The draw to this neighborhood specifically is the green space and quick access to the river and putting a casino right smack dab in the middle of it will just completely destroy the appeal of this neighborhood.”
Some attendees expressed concern about potential gravesites of emancipated slaves on the site. But Bally’s Senior Project Manager Michael Monty said the company has reviewed a cemetery deed for a property north of the casino site. “To be clear, the cemetery reference in this deed is not on our site. Beyond this, we have seen some sketches drawn by hand, but we have not seen any valid sources that would indicate any graves on our site.” Monty said the company plans to address any information regarding cemetery sites.
Scott’s Addition Boulevard Association hosted the Cordish Company’s virtual meeting. Cordish plans to replace the 17-acre Bow Tie movie theater complex with the $600 million Live! Casino & Resort Richmond. It would include a casino, 330-room upscale, 4-diamond hotel, convention center, restaurants and entertainment venues. Spokesperson Carl Furman said the project would require 3,000 employees with pay averaging above $60,000 with a $15 an hour minimum.
Furman added the company is would not make an upfront payment to the city, but instead would provide about $30 million a year in gaming tax revenue to Richmond–about $10 million more than the city’s share of projected annual state gaming tax.
The company also would create a community benefit fund that would donate an average of $13.3 million to help fund community services, such as infrastructure, education, health care, parks and recreation, affordable housing and workforce training and development.
Cordish Chief Operating Officer Zed Smith, who is Black, said Black and minority investors would have a 50 percent ownership stake in the casino-resort. He noted the company has a track record of minority inclusion for its existing casino operations in Florida, Maryland, Pennsylvania and Texas.
Cordish President Rob Norton told attendees, “We believe 100 percent that we are the best choice for Richmond. We are not building an island. We are building a project that we hope will be a catalyst for creating energy into the Scott’s Addition area.”
Still, Cordish faces community opposition. Second District Councilwoman Katherine Jordan said, “As I made clear to my constituents, the Cordish Companies, the city’s economic development team and the casino selection consultants, I am a hard “no” on any gaming at the Bow Tie Cinemas site. My constituents don’t want it, the thriving greater Scott’s Addition doesn’t need it and gaming and college sports just don’t mix. I welcome the developers to look at other non-gaming investments in our city.”
In addition, SABA President Trevor Dickerson said an informal online survey of 608 residents, business owners and community members indicated 77 percent opposed the casino resort. He said among the chief concerns was the potential traffic the massive project would cause. Cordish Managing Partner and Chief Executive Officer Joe Weinberg said roads would be widened and other infrastructure improvements would be made if the casino was approved. “One hundred percent of the infrastructure will be coming from us. That was one of the conditions from the city as part of the RFP,” Weinberg explained.
Finally, Urban One gave a presentation about its proposed $517 million One Casino + Resort, located at the former Philip Morris operations center. The project would include a casino, 150-room upscale hotel, concert venue and more. Urban One Chief Executive Officer Alfred C. Liggins III stated Urban One would open a temporary casino while the resort is being developed to generate income and early tax revenue for the city. The proposed location includes 55 acres of green space and wetlands that would be preserved, Liggins said.
The project would create 1,500 jobs, with an average salary of $48,000 a year, with employees becoming part owners and eligible for a $3,000 to $5,000 annual profit-sharing bonus, Liggins said.
He noted Urban One would provide an upfront payment of $60 million to the city plus an additional $6 million annually from casino revenue above the city’s share of the state gaming tax. In addition, Liggins said the company would contribute about $3 million a year to area nonprofits, and provide the city with $2.5 million in free advertising and promotion through its radio, cable TV and other outlets.
Liggins told attendees at least 50 Black investors, along with himself and his mother, Urban One Chairwoman Cathy Hughes, would together generate 80 percent of the $75 million equity stake in the project. He noted at least 40 percent of the suppliers and vendors would be minorities. Pacific Peninsula Entertainment, which operates Colonial Downs and Rosie’s Gaming Emporiums, would operate but have no ownership in the facility.
Since the casino would be located in an industrial area off I-95, Liggins said it would have the least traffic impact of all three proposals. He noted Exit 69 off the interstate would lead directly to the casino’s entryway.
In response to a resident’s question about nearby neighborhoods in the 8th District, Liggins said compared to the other proposals, “We’ve got the largest buffers between us and any respective home.” In regard to a question about crime, Peninsula Pacific Chief Operating Officer Aaron Gomes said, “We have thousands of surveillance cameras that cover almost all of the public spaces inside and outside the property and the results are positive in the communities we operate in.”
Richmond’s Department of Economic Development said the casino review committee, made up of nine members including two city council members, will recommend one of the casino proposals in May. The recommendation will go to the city council for approval. If it’s approved, Richmond residents will vote in a referendum in November whether to accept the city’s choice.
Consultants hired by the city projected a casino would generate $19 million to $21 million in annual gaming tax revenue for Richmond, plus another $10.5 million a year from real estate, meals, lodging and other taxes.
