Petersburg Go Again For Casino License

The City of Petersburg in the state of Virginia, is making a second attempt to secure a casino license after Richmond voters rejected a referendum for an entertainment and gaming complex. Petersburg officials are now seeking the state’s fifth casino license and have taken the necessary steps by requesting the right to hold a voter referendum. This move comes after Petersburg and Richmond became rivals in the race to host a casino over the past few years.

In 2020, Petersburg’s lawmakers supported a casino proposal after Richmond voters narrowly rejected the $565 million ONE Casino + Resort by a slim margin. State Senator Joe Morrissey and Delegate Kim Taylor used the state budget process to delay Richmond’s second vote until Petersburg could be considered as a potential casino site. The Joint Legislative Audit and Review Commission concluded in October 2022 that Petersburg could support a casino, either on its own or in competition with Richmond, although the presence of two casinos within 25 miles of each other would result in a reduced size and benefits.

Baltimore-based The Cordish Companies, which partnered with Petersburg, expressed their reluctance to move forward with a casino project if Richmond was allowed a second referendum, as it would potentially cannibalize the market. However, legislators decided not to include language in the budget to prevent Richmond from holding a second referendum. This referendum was ultimately rejected by Richmond voters in a citywide ballot referendum.

Following the rejection of the Richmond casino referendum, Petersburg City Council unanimously approved a legislative agenda that included a provision for a casino referendum in Petersburg by November 2025. The agenda also requested the General Assembly to allow a casino in a city with a population below 200,000. The council highlighted the potential benefits of a casino, including employment opportunities that exceed the city’s current average household income of $44,000 per year. Additionally, they estimated that a casino in Petersburg could generate $204 million in net gaming revenues annually, with the city receiving 6% or approximately $12,240,000.

During the initial casino fight, State Senator Joe Morrissey championed Petersburg’s cause in the General Assembly. However, he was subsequently defeated by Lashrecse Aird, who will now represent Petersburg’s interests in the capital. Petersburg Mayor Sam Parham confirmed that council members had met with Aird, who expressed her support for the city’s legislative agenda. However, neither Aird nor city leaders have provided any official comments on the proposed casino development.