Casino Referendum Creating a Historic Opportunity To Bring Jobs, Economic Development and Tax Revenues To Petersburg
Transformative Urban Revitalization Project will Support Critical Programs for City Residents Including Education, Workforce Development, Infrastructure, Parks & Recreation Facilities, Public Safety Enhancements and Homeownership Programs
PETERSBURG, VA (August 15, 2024) – Bruce Smith Enterprise and The Cordish Companies are excited to announce the opening of their new campaign office today in Petersburg, VA in support of the upcoming casino referendum. The office will serve as a resource center for the community, volunteers, and staff as they work together to inform voters and build momentum leading up to the critical vote this fall. The campaign office, located at 2 N Sycamore St., Petersburg, VA 23803, will be open Monday – Friday through Election Day on November 5.
“We are thrilled to establish a dedicated space where we can engage with the Petersburg community and share our vision for the future,” says Bruce Smith, Founder of Bruce Smith Enterprise and codeveloper of the Live! Casino Resort project. “This office will be a vibrant center of activity as we work to communicate the many lifechanging benefits this project would bring from job creation and economic growth to educational and community investment. As a native Virginian, nothing makes me prouder than being a part of this once-in-a-lifetime project for a city that has been desperate for an economic engine. It’s time to bring valuable new jobs and revenues to this great city and its great people today.”
The campaign office will be a place for volunteers to get involved, pick up materials, and participate in phone banking and canvassing efforts. Additionally, the office will host a series of events in the coming weeks, including informational sessions, volunteer training, and community outreach initiatives.
“We are committed to ensuring that every voter in Petersburg has the facts they need to make an informed decision,” stated Zed Smith, Chief Operating Officer of The Cordish Companies and codeveloper of the Live! Casino Resort project. “We believe that a YES vote for the casino referendum is a vote for a brighter future for Petersburg, and we encourage all residents to visit our new office to learn more about the transformative impact this project will have on the community.”
“We are excited to officially open our Petersburg campaign office this week,” said Ja’Scotta Jefferson and Preston A. Page, Virginian natives and Co-Campaign Managers, ‘Vote Yes! Live! Casino Resort’ Referendum Campaign. “The office’s central location downtown will give us a lot of opportunities to engage directly with local residents who can come in to meet with us and get campaign materials. Our background is in grassroots, and this will be a grassroots campaign. We plan to visit with Petersburg residents in their neighborhoods and businesses, and want every resident of Petersburg, young and old, to understand how this project will create thousands of valuable new jobs and support critical programs such as education, workforce development, infrastructure, public safety, as well as parks and recreation, and youth and senior programs. This is not just a casino, but a world-class mixed-use resort destination that will have significant benefits for city residents for generations.”
Live! Casino Resort will provide substantial benefits to the community and support critical programs for city residents including:
- Investments in education and workforce development
- Partnerships with local colleges to provide mentor and internship programs
- Increased investments in infrastructure and transportation in Petersburg
- Quality health and wellness clinics and local hospitals
- More funding for emergency responders
- Homeownership Programs for Petersburg residents
- Better parks and recreation facilities
The proposed project is a $1.4 billion world-class, mixed-use gaming entertainment resort destination that will set a new standard for development in the Commonwealth, create thousands of jobs, increase tourism and generate billions in economic benefits. The project site is ideally situated at the intersection of Wagner Road and Interstate I-95 with easy access on and off the East Coast’s major north-south interstate. Live! Casino Resort will be a catalyst for change and significant economic and tourism development, transforming the City through the creation of a thriving entertainment and hospitality resort destination. If approved by voters this November, the project will generate the following in its first 10 years:
- $2.8 billion in economic stimulus to Petersburg
- $504 million in tax revenues including $240 million to Petersburg
- $802 million in economic benefit during construction
- $201 million in annual economic impact each year after opening
- Over 7,500 new construction and permanent jobs
- Average compensation of $70,000 with benefits
Plans for the project include quickly opening an initial first phase casino within a year of all applicable approvals to immediately begin creating jobs, vendor opportunities and economic benefits for the city.
Live! Casino Resort is being codeveloped by Bruce Smith Enterprise, led by Virginia native, legendary Pro Football Hall of Famer, prominent developer, and community leader, Bruce Smith, and The Cordish Companies, one of the largest, most respected developer-operators of upscale mixed-use, entertainment and casino resort destinations in the United States. The project, which makes up 50% minority equity participation, represents the largest casino resort investment and development role by a Minority-Owned Business Group in the country.
The November 5th ballot question, which reads “Shall casino gaming be permitted as a casino gaming establishment in Petersburg, Virginia located on an approximately 92.5-acre development site located off Interstate-95 at Wagner Road along Brasfield Parkway in the City of Petersburg as may be approved by the Virginia Lottery Board?,” will ask Petersburg residents to allow the development to proceed.
Early voting begins Friday, September 20 and runs through Saturday, November 2.
For more information, to volunteer, or to get involved, please contact the campaign office at 804-894-8214 or visit our website at www.VoteYesPetersburg.com.
Image and video files can be downloaded here.
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About Bruce Smith Enterprise
Bruce Smith Enterprise, led by legendary Pro Football Hall of Fame member and Virginia native Bruce Smith, is a commercial real estate firm that specializes in the development of premier mixed-use projects. Headquartered in Virginia Beach, VA, the company has developed notable properties throughout the state and the Mid-Atlantic region that feature the cohesive and seamless integration of residential, hotel, Class A office, and retail space. Since retiring from professional football in 2004 after a prolific 19-year career, the NFL’s All-Time Sack Leader has endeavored to bring the same level of unparalleled excellence, diligence, and leadership that he honed as a veteran on the field to the management of Bruce Smith Enterprise. The successful development of timeless mixed-use properties that survive and withstand trends of the marketplace, strengthen, and invigorate the local economy and create jobs are core values of Bruce Smith Enterprise’s primary mission.
About The Cordish Companies
The Cordish Companies’ origins date back to 1910 and encompass four generations of privately held, family ownership. During the past ten decades, The Cordish Companies has grown into a global leader in Gaming & Entertainment; Commercial Real Estate; Entertainment Districts; Sports-Anchored Developments; Hotels; Residential Properties; Restaurants; Coworking Spaces; and Private Equity. One of the largest and most respected developers in the world, The Cordish Companies has been awarded an unprecedented seven Urban Land Institute Awards for Excellence for public-private developments that are of unique significance to the cities in which they are located. The Cordish Companies has developed and operates highly acclaimed dining, entertainment and hospitality destinations throughout the United States, many falling under The Cordish Companies’ Live! Brand, highly regarded as one of the premier entertainment brands in the country. Welcoming over 55 million visitors per year, these developments are among the highest profile dining, entertainment, gaming, hotel and sports-anchored destinations in the country. In gaming, The Cordish Companies has developed among the most successful casino hotel resorts in the world, including the Hard Rock Hotels & Casinos in Hollywood and Tampa, FL, Live! Casino & Hotel Maryland, Live! Casino Pittsburgh and Live! Casino & Hotel Philadelphia. Over the generations, The Cordish Companies has remained true to the family’s core values of quality, entrepreneurial spirit, long-term personal relationships and integrity. As a testimony to the long-term vision of its family leadership, The Cordish Companies still owns and manages virtually every business it has created. For more information, visit www.cordish.com or follow us on X (formerly Twitter) @cordishco.
“The Cordish Companies,” “The Cordish Company” and “Cordish” are trademarks used under license by independent corporations, legal liability companies and partnerships (“Cordish Entities”). Each Cordish Entity is a separate, single-purpose legal entity that is solely responsible for its obligations and liabilities. No common operations or financial interdependency, and no intermingling of assets or liabilities of the Cordish Entities exists, or should be deemed to exist, as a result of the potential common reference to multiple independent entities operating under the names “Cordish,” “The Cordish Companies” or “The Cordish Company” here or elsewhere.
Media Contacts:
Cari Furman, The Cordish Companies, cfurman@cordish.com
Andy Poarch, Andy@AllianceGroupLtd.com, 804-564-2566