-
Casinos for you
Richmond City Council Okay Casino Project, Residents to Vote in November
By Jeff Osienya Jun 18, 2023 IndustryIn a near-unanimous vote, Richmond’s City Council has rekindled plans to develop the ONE Casino + Resort, opening new doors for employment opportunities and tax collection. City residents are to vote on the casino measure in November.Hardly a year after 51% of Richmond residents said no to the ONE Casino + Resort, the City Council of the River City has come back full circle on welcoming Virginia’s fifth casino. City legislators have effectively revived the plan to breathe new life into a project many thought was done after the 2021 referendum loss. The Richmond City Council overwhelmingly voted 8-1 for a second referendum that should take place in November this year.
The project, which initially promised to be a lifeline regarding jobs and revenue collection, was presented to Richmond residents in 2021. And while people thought it would be many years till another similar proposal came around, the City Council did not want delays for a second chance. And while the bill may have been rejected in the 2021 ballot measure, some supporters argue that the referendum was marred with cases of misinformation. As such, Richmond residents did not get the chance to thoroughly scrutinize the perks that could come with establishing a casino.
Richmond’s proposal to revive the referendum was fronted by City Councilwoman Reva Tramell back in 2022. Her reasons for this move were she felt that efforts in 2021 didn’t give a clear enough picture of the city’s residents’ desires for a casino project. The councilwoman was delighted with the latest decision of the City Council to okay the casino project. She remarked:
Quote“It was a referendum. You always get another chance, but the message would be clearer this time. A lot of people thought that their tax dollars were going to pay for it. That’s not true.”
Blueprints of the Proposed Casino
As proposed in the 2021 referendum, the ONE Casino + Resort would be situated at the 97-acre site located on the City’s southside near Interstate 95. It will sit on a property currently owned by the Altria Group Inc.
Besides the casino, the establishment is to feature a 250-room luxury hotel and TV/Film production studios that come complete with sound stages. The project is expected to generate at least 1,300 jobs for Richmond residents, and the local tax is expected to average at the $30 million mark annually upon maturity.
Overall, the vast information regarding plans for the ONE Casino + Resort establishment is just as it was two years ago. The major exception this time is that Churchill Downs is now a significant player in the project after its $2.75 billion purchase of the Peninsula Pacific Entertainment LLC (P2E).
P2E was part of the original 2021 agreement and was to team up with Urban One, based in Silver Spring, Maryland. Urban One, which is to own and operate the Richmond casino resort in partnership with P2E, is a media company that handles 55 radio stations and cable network TV One.
Support and Opposition in Equal Measure
Just as was the case 2 years ago, there have been divided opinions on Richmond’s current casino pursuit, and as such, it has not been a smooth sail.
On one side of the divide is a group of Richmond City residents who feel that a vote soon after the referendum was held is in contempt of the democratic rights of the citizens. To this group, it feels like a slap in their faces that their opinions counted for little should a referendum be called once again. Additionally, there was even some pushback from State Senator Joe Morrissey, who introduced a bill that would have blocked Tramell’s call for a fresh vote. This bill was, however, quashed in February this year.
At the same time, you have supporters who insist that the benefits that come with the casino project are simply too expansive to miss out on. Councilmembers also opined that the development, which is planned off Wamsley Boulevard, would not involve funding from the city and would create lots of job opportunities for the residents of the River City. Kristen Nye of the Fourth District said:
Quote“One of the big misconceptions during the referendum the last time was that the city of Richmond was making fiscal investments, was giving away land, was doing all of these things, and we weren’t. This is purely revenue for us. I haven’t seen a deal like this since I’ve been on council.”
Moreover, in defense of the protests that the bill was an infringement of the will of the Richmond citizens, Council President Michael Jones said:
Quote“We did listen to the people in the last referendum. Democracy was served because no shovels went into the ground the next week. We can talk about all the issues about why it did and didn’t. Ultimately, I believe that citizens should have an opportunity to vote on this next time. I just firmly believe that.”
Ultimately, should the 2023 ballot measure be a success, the city has committed to a 2% reduction in the city’s real estate tax. Also, $560 million in capital investment will be channeled toward Richmond public schools and city projects.
There are Still Plenty of Hurdles to Overcome
Even with the council’s backing, there are still considerable roadblocks to be maneuvered before the Richmond casino project can cross the finish line. For example, the proposal will have to be approved by local courts and state regulators.
There is also the realistic possibility that this proposal may fail at the state legislature stage. State Senator Joe Morrissey’s name once again pops up in this topic. It is an open secret that he will pull all the tricks up his sleeve to ensure that this project doesn’t see the light of day. The senator hopes that as legislators pass this year’s budget, they will include language preventing a new referendum, just as it happened last year.
That said, all the focus in Richmond will be on the upcoming state elections on June 20th, where several legislators face battles to retain their seats. Once that matter is ironed out, then we could get a clearer picture of the proposal’s chances in the legislature.
You might also like