Quadruple bids for Richmond casino resort proposal


In the southern American state of Virginia and four candidate firms have reportedly officially entered the race in hopes of being given permission to bring a casino resort to the city of Richmond.

According to a report from the news domain at RichmondBizSense.com, voters in the Virginia cities of Danville, Portsmouth, Norfolk and Bristol approved local ballot initiatives in November so as to allow their communities to each host one casino resort. Richmond is now purportedly hoping to join this exclusive club by putting the matter before its electorate this autumn after having first selected a proposal and negotiated terms with the prospective operator.

Impressive idea:

RichmondBizSense.com reported that Ballyโ€™s Corporation is one of the runners for the Richmond casino resort with the firm recently detailing that its planned $650 million development (pictured) would sit on a 61-acre parcel of land located approximately four miles south of downtown. Previously known as Twin River Worldwide Holdings Incorporated until undergoing a name-change late last year, the Rhode Island-based operator purportedly also explained that such a 1.6 million sq ft venue would look to feature a 250-room hotel alongside multiple restaurants, an events center, a spa and a casino offering some 120 gaming tables.

Tribal treatment:

The news domain reported that the Pamunkey Indian Tribe has similarly lodged a proposal in hopes of being given permission to build and run a $350 million casino resort on a 24-acre site situated along the banks of the James River some six miles south of the city center. The federally-recognized tribe purportedly detailed that its Richmond enterprise would play host to a 300-room hotel with dining options in addition to a casino featuring thousands of slot machines and up to 75 gaming tables.

Live! overture:

Meanwhile, Richmond is to reportedly furthermore now assess a bid from The Cordish Companies that would see the Baltimore-headquartered firm given permission to construct and operate a $600 million facility complete with a 250,000 sq ft casino and a 300-room hotel. The proposed Live! Casino and Hotel Richmond venue would purportedly sit on a 17-acre site to the north of the city and moreover come complete with as many as 18 restaurants and bars.

Potential partnership:

Finally, Maryland-based media conglomerate Urban One is reportedly pushing its plan to open a $517 million casino resort on a 100-acre parcel currently owned by Philip Morris International. The minority-owned firm purportedly pronounced that it intends to partner with Peninsula Pacific Entertainment, which is already responsible for the Colonial Downs Racetrack in nearby Kent, Virginia, as well as five local Rosieโ€™s Gaming Emporium-branded slot parlors, so as to construct a Richmond facility featuring a 150-hotel, a 3,000-seat entertainments venue and 90,000 sq ft of gaming space.

Forthcoming formula:

RichmondBizSense.com reported that Richmondโ€™s Economic Development Authority is now set to go over these four proposals in partnership with New Orleans-headquartered Convergence Strategy Group. The pair could purportedly make their final recommendation as early as June before the whole matter is put to local voters via a referendum currently scheduled to take place on November 2.