Virginia casino: Richmond revives One Casino+ Resort concept

Virginia casino: Richmond revives One Casino+ Resort concept

The collapsed real-money casino resort idea in Richmond, Virginia’s capital city, has been revived, with lawmakers being asked to organize a second referendum on the project. 

One Casino Resort

According to local media reports, the resolution to renew Urban One’s One Casino Resort passed through the city council by an 8-1 majority, with the referendum possibly appearing on the ballot this year.

In November 2021, Urban One conceded defeat in its bid to create the $565 million arenas after a referendum resulted in slightly more than 51% of voters rejecting the idea. While local media sites reflect conflicting views on the facility’s perspective rebirth, the city administration has also proposed a two-cent tax rate reduction.

This, it is said, would generate an additional $560 million in revenue, which could be used to fund capital improvement projects for Richmond public schools and the city itself. While the plans must be evaluated, further community advantages include eliminating city funding, the creation of over 1,500 employment, $16 million in assistance for local community organizations, and $325,000 in support for transit mobility solutions.

“Our folks deserve tax relief and job opportunities,” Mayor Levar Stoney stated. “They demand improvements to public infrastructure and increased financing for school capital projects.

“This initiative presents a once-in-a-lifetime opportunity to do precisely that. I’m certain that the city council is committed to generating opportunities that benefit and support ALL citizens of Richmond, and I’m pleased that tonight’s vote reaffirms this shared commitment.”

One Casino + Resort was proposed by Urban One in collaboration with Peninsula Pacific Entertainment, which owns and operates several casinos in Virginia and Colonial Downs Racetrack and Rosie’s Gaming Emporiums. This includes a sportsbook, 90,000 square feet of gaming space, 150 hotel rooms, a 3,000-seat theatre, 12 bars and restaurants, 20,000 square feet of event space, and a more than 50-acre green space program.

Quotes from the Press Release

“For our entire community, the One Casino + Resort potential makes sense. Our constituents should have the opportunity to rewrite the city’s story, and One Casino + Resort enables us to do so,” stated Councilwoman Leva Trammell.

“Providing jobs and access is critical to our mission in Richmond. We can restart professions, provide access and wealth-building possibilities for individuals in need, foster creativity, and provide new educational outlets through the One Casino + Resort. This is the definition of inclusive growth — something for everyone.”

President Cynthia Newville, Vice President Ellen Robertson, Councilman Michael Jones, Councilwoman Ann-Frances Lambert, Councilman Andreas Addison, and Trammell and Stoney have endorsed the resolution.

“Our community must pursue opportunities that will result in the creation of new employment, increased revenue, and new tourism attractions,” Addison stated.

“This is more than a casino; it is a new privately funded entertainment zone with music, arts, and other attractions in the heart of the southside, an area in desperate need of further investment options. I am in favor of the democratic process used to investigate this project.”

 

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.