Virginia's Casino Vote Gains Approval
Authorization is given for a casino referendum in Richmond, Virginia to move to the November ballot. This follows a court order from the Circuit Court of Richmond and approval by the Virginia Lottery of a preliminary application to construct the casino. Last month, city leaders voted 8-1 to put the question forward for voting again.
Richmond's Mayor Levar Stoney expressed his enthusiasm for this latest development:
"I am ecstatic to see the Virginia Lottery and the Richmond Circuit Court sanction the referendum for a Richmond luxurious-resort and entertainment center that will provide 1,300 remunerative positions and an estimated $30 million in annual income to attend to our community's foremost vicissitudes. Richmond's ongoing progression and economic expansion is recording all-time highs, and having a destination resort will radically alter Southside's economic stride for many years to come."
The $562 million casino and resort, a project by Churchill Downs Incorporated and the Baltimore-based media company, Urban One, Inc., are determined to deliver positive community benefits.
Bill Carstanjen, CEO of Churchill Downs Incorporated, placed the following statement:
"Our organization has a proven track record in creating and operating marvelous entertainment, gambling, and horse racing venues that generate substantial benefits for our host areas. We're eager to translate our aims and vision into reality in Richmond."
The developers are touted to unveil a refurbished design and vision for the project imminently.
Earlier outcomes had suggested the construction of a hotel, spa, eateries, and entertainment venues alongside the casino.
However, a legal barrier remains before the casino question can be officially cast onto the ballot. This obstacle comes from outgoing state Senator Jim Morrissey (D), who favors a casino in Petersburg, 25 miles to the south. He managed to enact a clause in the state finances last year which blocked the casino vote. Budget negotiations are at a standstill this year, potentially reducing his chances of success.
The prospect of the state legislature blocking the casino in 2023 through the budget remains a possibility, but it's thought to be one of the later subjects to be settled in the ongoing negotiations.
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Source: www.casino.org
