Ground Broken on First Phase of $1.4 Billion Casino Resort in Virginia

Bruce Smith Enterprise and The Cordish Companies announced the groundbreaking of the Live! Casino & Hotel in Petersburg, Virginia. The project is part of a larger, phased $1.4 billion plan to transform the area, 20 miles south of Richmond, into a resort destination.

The developers said in a statement that the Brasfield Parkway site, off I-95 at Wagner Road, provides easy access from the East Coast’s north-south highways. 

Exterior rendering of the planned Live! Casino & Hotel in Petersburg, Virginia. The project is part of the city’s larger, phased $1.4 billion development plan. Image: Bruce Smith Enterprise and The Cordish Companies

Bruce Smith, founder of Bruce Smith Enterprise said, “For far too long people have simply driven by the City of Petersburg, but today marks the beginning of a new era in which Petersburg will become a prime destination.”

Smith added, “This pivotal project will ignite tourism, create jobs, and ultimately deliver on the promise of greater opportunity and upward mobility for local families.”

The project is expected to generate regional economic benefits, including:

• Economic Stimulus: Over the next 10 years, $2.8 billion in economic benefits are projected. Construction is expected to contribute $802 million to the local economy, while the operational phase is anticipated to add $201 million annually.
  
  
• Job Creation: 7,500 jobs will be generated, including 6,100 construction roles and 1,400 permanent positions with average earnings of $70,000 annually, officials said.  

• Tax Revenue: A total of $504 million in tax revenue is expected, with $240 million going directly to the City of Petersburg.

Casino floor rendering of the planned Live! Casino & Hotel in Petersburg, Virginia. Over 450,000 square feet of gaming, hotel, and dining facilities are planned for the development. Image: Bruce Smith Enterprise and The Cordish Companies

Developers said the completed construction project would include facilities for:

Gaming and Entertainment

• Over 450,000 square feet of gaming, hotel, and dining facilities.
• 1,600 slot machines and 65 live-action table games, including a 22-table poker room.
  

Meetings and Events

• 75,000 square feet of meeting, convention, and entertainment space.
• A 4,000-seat venue for concerts and special events.

Hotel and Amenities

• A 200-room hotel featuring 20 suites, a resort pool, and a fitness center.
• 10 restaurant and entertainment options.

Interior rendering of the Live! Casino & Hotel in Petersburg, Virginia. The hotel broke ground this week. Image: Bruce Smith Enterprise and The Cordish Companies 

Zed Smith, Chief Operating Officer for The Cordish Companies, said, “Our company is a national leader in successfully developing and managing large-scale urban revitalization projects across the country.”

Smith added that the project is “transformative” for the area and “will bring a world-class gaming and entertainment experience to millions of visitors, create significant new jobs, and generate millions of dollars in economic benefits...”

Live! Casino & Hotel Virginia is scheduled to open in 2027, though a temporary gaming facility will launch by the end of 2025.

A Local Contractor and Supplier Fair is planned for April 9^th from 10 a.m. to 2 p.m. at the Petersburg Public Library, where local businesses and contractors can learn more about the project. 

 
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