The City Council of Petersburg, Virginia, unanimously selected the casino operator The Cordish Companies on Tuesday to develop a $1.4 billion casino resort in the southeastern corner of Petersburg. The project to be developed in three stages over a 15-year period is promising for the city economy but also faces contingencies.
“Just because the council voted tonight doesn’t mean this is a done deal,” said City Manager John March Altman after the meeting. The major contingencies include the General Assembly’s approval that casino gaming is compliant with the state legislature and the proposed casino project in Richmond less than 25 miles away from the Cordish’s planned facility. This project was rejected by voters last year, but Cordish still considers it a major competition concern.