Richmond planning to hold a second vote on the One Casino and Resort

The southern American state of Virginia, and particularly the city of Richmond is said to be reportedly set to go on a second run with a move aimed at convincing local voters there to permit Urban One, a radio broadcaster into launching a $600 million casino resort in a 100-acre plot of unused land.

Based on a report in the Richmond Times-Dispatch on Monday, the state legislators went ahead to pass the legislation in April 2020 that allowed Richmond, as other nearby communities of Bristol, Portsmouth, Danville, Norfolk to host some sort of a Las Vegas-style gambling facilities if their local populations did agree through individual referendums. According to the source, the ultimate for ‘River City’ was for Urban One to partner with Peninsula Pacific Entertainment, a local racetrack operator to develop their envisioned One Casino and Resort and begin undertaking the business as early as 2025.

A bleak determination

The newspaper, however, reported that Richmond voters did defeat this proposition in November, but by a very small margin of 49% to 50% margin, leaving the community of some 227,000 individuals as the sole member of the 5 strong clubs of cities in Virginia to miss the chance of having to host a casino resort. The opponents reportedly raised their own fears arguing that such a facility would bring about local gambling addiction, crime, poverty, as well as fail to generate the expected $500 million in 10-year tax benefits.

The stab that followed

Nonetheless, the newspaper later reported that Richmond City Council did pass a measure by an almost unanimous margin yesterday, a move that would see the question about the casino being asked to the local voters for a second time. Those championing the legislation disclosed that the One Casino Resort will create 1,500 full-time jobs, along with generating an additional $30 million in terms of tax revenue for the community.

Identical intent

Surging ahead, based on the Richmond Times-Dispatch, the intended referendum aims to seek voter support for the entire city to join hands with Urban One and Peninsula Pacific Entertainment in bringing the One Casino and Resort to a brownfield site that’s currently at the hands of Philip Morris International.

Based on the publication, the finished complex will consist of a 250-room hotel, a sportsbook, a 3,000-seat concert area, a 90,000-square-foot gaming floor that will have 100 gaming tables, 1,800 slots, and high-stakes poker rooms.

The substantial sweetener

In efforts aimed at swaying voters in support of the second casino referendum, Levar Stoney, Richmond’s 40-year-old mayor is said to have reportedly teamed up with several city council members to offer a 2% reduction in the local real estate tax rate. A Democrat spokeswoman later supposedly revealed that such a move would be dependent on voters agreeing to the One Casino and Resort proposal, which would also include a one-time payment of $25 million to the community.

“Our residents deserve tax relief and access to good jobs and they want public infrastructure improvements and more funding for school capital projects. This project provides a unique opportunity to do just that. I know the city council is committed to creating opportunities that uplift and support all Richmond residents and I’m hopeful tonight’s vote affirms this shared commitment,” Stoney reportedly told the newspaper.