Construction of Live! Casino & Hotel Virginia Underway; Anticipates Job Creation and Economic Boost
Rev up, y'all! The mighty Live! Casino & Hotel Virginia is gearing up to shine in Petersburg, and it's all thanks to the grit and determination of Bruce Smith Enterprise and Cordish Companies. This $1.4 billion united front aims to supercharge the local economy with a can't-miss mixed-use resort.
Standing tall among the project's champion is none other than NFL Hall of Famer, Bruce Smith, founder of Bruce Smith Enterprise. With an infectious enthusiasm on his face, he shared, "For too long, Petersburg's been the forgotten gem on the side of the road. But today marks not just a new day, but a new era, an era in which this city shines like a beacon, attracting millions of visitors."
This construction project has caught the eye of more than just Petersburg's lottery enthusiastsβcity officials, business leaders, community members, and representatives like Virginia State Senator Lashrecse Aird and State Delegate Kim Taylor, have all joined forces to celebrate the groundbreaking ceremony. Their collective support speaks volumes about the project's potential to rejuvenate the area and lay the groundwork for long-term growth.
But what lies in store for Petersburg as this massive undertaking unfolds? The city stands to become a central hub for entertainment, hospitality, and economic development. Expect nothing less than a booming hotspot in Central Virginia as Live! Casino & Hotel Virginia rises from the ground like an economic phoenix.
Reshaping Petersburg's Economic Fortunes
You gotta hand it to them; Live! Casino & Hotel Virginia is set to deliver a striking economic impact for Petersburg. Scheduled to open its doors in 2027, the resort promises an unparalleled gaming and entertainment experience. Before the grand opening, a temporary gaming facility will make an appearance, creating opportunities for local vendors and 500 initial jobs.
"Live! Casino & Hotel will generate economic benefits for generations, creating significant new jobs, attracting tourism, and providing local families with greater opportunities," asserted Zed Smith, COO of Cordish Companies.
By the year 2025, the project is slated to bring around $802 million in economic benefits for the region during construction. Once it's up and running, Petersburg will enjoy an estimated $201 million in annual economic benefits. The construction phase will create around 6,100 jobs, with 1,400 permanent positions waiting in the wings once the doors open.
Diving Deeper into the Data
Crunching the numbers, the casino development project is projected to generate $2.8 billion in economic stimulus for the Petersburg region[1][2]. It also anticipates bringing in $504 million in tax revenues, with a whopping $240 million going straight to the City of Petersburg[1]. With a venue that houses over 450,000 square feet of gaming, hotel, and dining space, a 200-room hotel with suites and high-end amenities, a 4,000-seat concert and event space, and 1,600 slot machines, pokers tables, and sportsbooks, it's no wonder so many are buzzing with excitement[1].
Revitalization Meets Redefinition
As the project moves along, Petersburg positions itself to redefine entertainment, hospitality, and community engagement across Central Virginia. By being a part of the $1.4 billion Live! Gaming & Entertainment District, it's set to become the largest economic and tourism development project in its history, creating long-lasting ripples in the city's future[1][2].
So buckle up, folks! Live! Casino & Hotel Virginia is set to revitalize Petersburg and chart an exciting new course for the city's residents and visitors alike. Get ready to embark on the ride of your life!
In line with the economic shift, Live! Casino & Hotel Virginia is poised to invigorate the gambling and entertainment scene in Petersburg, Virginia, with its casino-and-gambling offerings and casino-games, marking a significant leap in the city's casino-culture. Upon completion in 2027, the resort will stand as a testament to the city's rejuvenation, providing a platform for thousands of jobs, local economic growth, and an entertainment hub for the region.
