City News

Economic Development

City Council Approves Resort Casino Host Community Agreement

Media Advisory
Tuesday, July 27, 2021
Contact: Devin Wood
Cell: 804-484-4800

Devin.Wood@richmondgov.com

 

Richmond, VA — Richmond City Council has approved the Host Community Agreement for ONE Casino + Resort (RVA Entertainment Holdings, LLC).  With this approval and the required approval from the Virginia Lottery in hand, the city will proceed with petitioning the Circuit Court for a November 2nd referendum on casino gaming in the City of Richmond.

“I congratulate the City Council for approving a resort casino Host Community Agreement that puts Richmonders first,” said Mayor Levar Stoney. 

The action paves the way for city voters to have the final say at the ballot box to move this project forward in South Richmond. If approved, ONE Casino + Resort will create over 1,300 good paying jobs with benefits and generate an estimated $172 million in new General Fund revenue over the five years of the project. 

“Richmond needs both,” said the mayor.  “Great new jobs for our residents and new revenue to help fund our priorities and keep taxes low for everyone.”

If the referendum is approved by Richmond voters, the $562 million project is planned to open in October 2024.

Information on the project and the text of the final Host Community Agreement can be found athttps://www.rva.gov/economic-development/resort-casino.

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Richmond ranks 7th in both Economic Potential and Human Capital & Lifestyle in Americas Cities of the Future List

Richmond was named to fDi (Foreign Direct Investment) Magazine’s 2021/22 Americas Cities of the Future list, ranking 7th in best mid-sized America’s Cities of the Future for Economic Potential and 7th in best mid-sized America’s Cities of the Future for Human Capital and Lifestyle. Rankings on the list are coveted and measured by indicators such as growth forecasts, FDI figures, and number of universities.

“Richmond being named to Americas Cities of the Future list is an outstanding achievement,” said Mayor Stoney. “Our goal has always been to come out of the pandemic as a better and stronger city than we were before, and recognition like this proves that we’re on track to do exactly that.”

“Richmond’s ranking speaks to the importance of having a talented workforce and a great community,” said Director of Economic Development Leonard Sledge. “We will continue to support creating an environment where people and the companies they choose to work for can thrive.”

Richmond is proud to have international companies such as CameraMatics, HalioDx, Swedish Match, Safelite, and ActionStep in the city. In the current fiscal year Richmond has economic development projects that total more than $409 million in capital investment and over 1,000 new jobs announced.

To learn more about the fDi Americas Cities of the Future list and view the rankings, click here.

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City Council Approves Resort Casino Operator

Resolution advances the resort casino toward referendum

 

Richmond, VA — Richmond City Council this evening approved the resolution introduced by Mayor Stoney to name ONE Casino + Resort (RVA Entertainment Holdings, LLC) as the city’s preferred casino gaming operator for a proposed resort casino project in South Richmond at the former Philip Morris Operations Center. 

 

Passage of the resolution also includes City Council’s support of the business terms in the Host Community Agreement Term Sheet between the city and resort casino operator and authorizes the preparation and negotiation of the full Host Community Agreement, which will be voted on by Council later this summer.

 

The city will now submit the preferred operator/site to the Virginia Lottery Board for pre-certification. Upon successful pre-certification, and approval by City Council of the full Host Community Agreement, the city will petition the Circuit Court to hold the November 2nd voter referendum on the negotiated project.

 

“ONE Casino + Resort is a $562.5 million project that will create 1,300 well-paying jobs with benefits in South Richmond, and every Richmond resident will benefit from the new revenue created by the project,” said Mayor Stoney.  “City Council’s vote tonight paves the way for every voting Richmond resident to have their voice heard on this important project.”

 

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More information on the city’s resort casino process can be found at https://www.rva.gov/economic-development/resort-casino.

 

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City Council Approves Resort Casino Operator

Resolution advances the resort casino toward referendum

Richmond, VA — Richmond City Council this evening approved the resolution introduced by Mayor Stoney to name ONE Casino + Resort (RVA Entertainment Holdings, LLC) as the city’s preferred casino gaming operator for a proposed resort casino project in South Richmond at the former Philip Morris Operations Center. 

 

Passage of the resolution also includes City Council’s support of the business terms in the Host Community Agreement Term Sheet between the city and resort casino operator and authorizes the preparation and negotiation of the full Host Community Agreement, which will be voted on by Council later this summer.

 

The city will now submit the preferred operator/site to the Virginia Lottery Board for pre-certification. Upon successful pre-certification, and approval by City Council of the full Host Community Agreement, the city will petition the Circuit Court to hold the November 2nd voter referendum on the negotiated project.

 

“ONE Casino + Resort is a $562.5 million project that will create 1,300 well-paying jobs with benefits in South Richmond, and every Richmond resident will benefit from the new revenue created by the project,” said Mayor Stoney.  “City Council’s vote tonight paves the way for every voting Richmond resident to have their voice heard on this important project.”