Richmond City Seeks to Revive One Casino Project

Richmond City Council members seek to revive an old casino project that failed to gain the public’s support in 2021. The measure would see the people of the Virginian city vote on the matter once again.

The so-called One Casino + Resort is a project first introduced in 2021, two years after Virginia agreed to allow five cities facing economic challenges to open casinos. Since Virginia greenlit casinos, four cities, namely Bristol, Danville, Norfolk and Portsmouth opened casinos. Some people in Richmond hope that their city will secure the fifth slot.

The One Casino + Resort is a project for a gambling property that would be jointly operated by Churchill Downs and Urban One, working together as RVA Entertainment Holdings. The two operators plan to construct a $562.5 million casino property in the Virginian city, bringing gaming to local customers.

However, the project failed to secure the necessary approval in 2021 and was shelved until now. Back then, the voters rejected the property by a margin of 1,200 votes.

Richmond City Hopes That Its Second Attempt Will Be Successful

This Monday, Richmond City Council members agreed to implement a host community agreement between the city and RVA Entertainment Holdings. As a result, the council is now looking to bring a second casino referendum.

The fate of the One Casino + Resort in Richmond is expected to be decided in November when the public will be asked to vote on the plans. Under its agreement with the Richmond council, the developer will pay $25.5 million to the city if the referendum passes.

Richmond’s second effort to secure approval for the One Casino + Resort comes after a failed attempt to establish a casino in Petersburg. The latter city tried to secure approval for a gambling venue right after the first Richmond City vote failed. Petersburg’s plan was to welcome the Cordish Companies, allowing them to develop a casino project. However, the Petersburg legislation also failed to pass.

As a result, Richmond City hopes that its second attempt to secure approval for its casino will pass, allowing it to capitalize on the opportunities offered by the gambling industry. City Councilor Reva Trammell emphasized that the city has the right to have another go at it.

The overall proposal is almost the same as the one from 2021. However, some people are still opposed to the idea, believing that a casino would amplify the social and economic divide in the city.