The Cordish Companies has announced plans to build a $600m+ casino resort destination in Richmond, Virginia through its PPE Casino Resorts Richmond subsidiary.
Live! Casino & Hotel Richmond aims to create thousands of jobs, improve tourism, and produce billions in economic growth in response to the city’s request for proposals, which has already seen Bally’s Corporation unveil its $650m plans.
One of the most recognised casino brands
The chief executive officer and partner of The Cordish Companies, Zed Smith, stated: “Our Live! brand is one of the most recognised casino and entertainment brands in the country.
“Our project will be a key link in realising the vision set forth in the Richmond 300 master plan for the development of a higher density dining, entertainment, hospitality and commercial node connecting the Diamond and Boulevard developments to our site and the Washington Football Club training facility.”
The project involves a 250,000 square foot casino; a hotel with approximately 300 guest rooms and 30 suites; spa and fitness facilities; a 4,000-capacity live entertainment venue; a multi-use event facility of 40,000 square feet; and 18 restaurants, bars and entertainment venues.
Thrilled to participate
Bruce Smith, National Football League Hall of Famer and partner in Live! Casino & Hotel Richmond said: “I’m thrilled to be participating in the Live! Casino & Hotel Richmond project as an investor and partner.
“The Cordish Companies have a proven track record of both creating leading casino entertainment destinations around the country and, just as importantly, maximising the positive social impacts of its developments for local and minority residents and businesses.”
Cordish Companies reports that its plan would increase the benefits to the city and its residents for economic and social effect, producing $5.3 billion in total economic impact for Richmond over the first ten years, creating more than 5,000 new direct and indirect construction jobs and more than 3,000 new permanent jobs.
“No gaming or development company in the country has our track record of successfully designing, financing, building and operating large-scale casino entertainment resort destinations in regional markets,” added Smith.
“Every commitment, program and goal contained in our proposal has been successfully achieved time and again by us in other cities in the country. Our commitment to excellence, creating memorable guest experiences and treating our team members and communities like family is our hallmark.”