The regional council’s petition has been approved by the Circuit Court of the city of Richmond, which will result in the inclusion of a referendum on the proposed One Casino + Resort on the November ballot.
After the Richmond city council approved the ‘Host Community Agreement’ for the property last month, this is the next stage in bringing the development to reality.
Following the latest approval, the referendum on November 2, 2021, will ask voters whether ‘casino gaming shall be permitted at a casino gaming establishment in the city of Richmond, Virginia, at 2001 Walmsley Boulevard and 4700 Trenton Avenue, Richmond, Virginia, 23234, as may be approved by the Virginia Lottery Board?’
The $562 million project, which beat out other rival ideas, is set to open in October 2024 if the referendum is approved by Richmond voters.
Induced tax revenues and community benefits
Over the first ten years of operation, the project is expected to generate over $500 million in direct, indirect, and induced tax revenues and community benefits for Richmond.
The Richmond Circuit Court’s order to put the resort casino referendum on the November ballot, according to Mayor Levar Stoney: “We thank the court for its review and order to place on the November ballot a referendum on the One Resort & Casino project.
“This economic development project will bring 1,300 well-paying jobs and millions in much-needed revenue to our city while continuing the revitalisation of South Richmond. And as we said from the beginning, the people will have the final say.”
Included in the project
The 2.9 million square foot project will include a 100,000 square foot casino with 2,000 slot machines and 110 table games, including poker and a sportsbook; a 250-room hotel with the ability to expand to 600 rooms, a resort-style spa and salon retreat, 15 bars and restaurants, a 3,000-seat event centre that will host 200 events annually, a 55-acre park and green space, and a TV and radio production studio.
Urban One won approval for the project after beating out Cordish Companies, Bally’s Corporation, Golden Nugget, Wind Creek Hospitality, and Pamunkey Indian Tribe & Reservation in a request for proposals procedure.
After Norfolk, Danville, Bristol, and Portsmouth held referendums and authorised ventures alongside the Pamunkey Indian Tribe, Caesars Entertainment, Hard Rock International, and Rush Street Gaming, Richmond would become the fifth Virginia city to approve casino resort projects.