Casino Developers at Richmond Grand Resort Reach Agreement for Union-led Construction
The developers of the potential Richmond Grand Resort & Casino, situated south of Virginia's downtown capital city, plan to utilize union construction laborers should the project receive approval via a ballot referendum in November.
Urban One, a Maryland-based, black-owned, and black-focused entertainment conglomerate responsible for operating both Radio One and TV One, has strived to procure authorization to establish a casino resort adjacent to the Philip Morris headquarters along I-95 for several years.
In 2020, Virginia lawmakers and former Governor Ralph Northam (D) sanctioned casinos in five impoverished cities through enacted legislation. Richmond, satisfying numerous eligibility criteria, inclusive of experiencing a population decrease of at least 20% between 1990 and 2016 and showcasing a minimum 20% poverty rate in 2017, was among the selected locations.
Although Urban One has no expertise in constructing or operating a casino or hotel, Richmond city officials opted to collaborate with the diversified entertainment firm over more seasoned gaming corporations like Bally's and The Cordish Companies. The decision was partially influenced by the prospect of diversifying the capital metro.
After Richmond residents rejected Urban One's casino proposal, in tandem with Peninsula Pacific Entertainment, a Los Angeles-based casino operator, in 2021, Urban One revised its casino strategy with new partner Churchill Downs.
Project Advantages
Despite community members in the capital region advising the local government to obey the 2021 decision of the populace, Democratic-led Richmond City Council members are confident a clear communication on the financial benefits the casino would bestow will influence the jury in their favor.
Churchill Downs acquired Peninsula Pacific in February 2022, inferring their Richmond casino prospect with Urban One. The prominently recognized Churchill may appeal more to Richmond's affluent neighborhoods situated north of the James River, which were more vehemently opposed to the initial Urban One casino plan during the November 2021 vote.
Urban One and Churchill's casino vision, titled the Richmond Grand Resort & Casino, encompasses a $562 million venture entailing a casino, a 250-room deluxe hotel, and resort amenities such as restaurants, bars, a spa, a pool complex, and an outdoor event venue.
The developers assert the casino would create 1,300 everlasting jobs with salaries averaging $55K and procure approximately $30 million annually in fresh taxes for Richmond.
Union, City Affiliates
An additional appeal for greenlighting the project, officials from Urban One and Churchill unveiled, is the hiring of union workers to assemble the integrated resort. If the November vote endorses the Richmond Grand Resort & Casino, the construction will be undertaken by unions that comprise the Richmond Building Trades Council.
Urban One, Churchill, and city officials are likewise advertising the fresh taxes would significantly strengthen the region's education sector. The City Council recently consented to divert primarily the casino tax revenue towards Richmond's Childcare and Education Trust Fund. The account's establishment is contingent upon the referendum's passage.
However, critics argue children are being employed as pawns to generate support for a casino.
"The moral bankruptcy that the mayor [Levar Stoney] exhibits is that he posits the idea of a trust fund for children is solely worthwhile if the referendum prevails. If it’s rejected (yet again), he will not attempt to institute such a trust fund. I'm sorry, nothing for the kids," Jon Baliles, a former Richmond city councilor, remarked.
Early voting on the casino and other state and local elections began on Friday, September 22.
Read also:
- Remaining contenders down to two in DFB's struggle versus Brazil.
- Law enforcement agencies in various metropolises plan expansive measures for May 1.
- Berlin Transport Senator Schreiner Steps Down over Doctorate Issues
- The Next Development in the DAZN/DFL Billion Euro Controversy
Source: www.casino.org
