Ballot-bound: Richmond Formally OKs Urban One Casino Referendum

In November, Richmond voters will have the power to determine the outcome of an Urban One casino referendum on Election Day.

On Monday, the Richmond City Council voted in favor of approving the operator and site for the project, thereby formally authorizing its inclusion on the November ballot.

On November 2, voters can give their approval for the construction of the proposed $600 million One Casino + Resort with a simple majority.

Six proposals were received by Richmond for the casino-resort, but the Resort Casino Evaluation Panel ultimately chose the proposal from Urban One, a media conglomerate based in Maryland. Urban One, which owns various radio stations in Richmond, partnered with Peninsula Pacific Entertainment (PPE) for this venture. PPE is the parent company of Colonial Downs racetrack and Rosie’s Gaming Emporiums in Virginia.

If the project in the Virginia capital city gets approved by voters, it will join the ranks of four other cities that have recently voted in favor of casinos.

Location was key for Urban One casino referendum

On Monday, the Urban One casino referendum received a final count of 8-1 in favor of the project, with only city council member Katherine Jordan dissenting.

Nevertheless, several council members shared their anxieties and openly articulated their individual worries. Yet, their consensus was to leave the ultimate decision in the hands of the voters, rather than the elected officials. Consequently, the ballot measure was approved.

During Monday’s meeting, various community activists and other individuals with vested interest also had an opportunity to speak. A few individuals voiced their concerns regarding the casino, raising common issues.

• Potential crime
• Potential burden on municipal resources
• Preying on vulnerable Richmonders

The location of certain Richmond casino proposals garnered significant criticism, leading to The Cordish Cos.’ proposal being named the second choice in the selection process.

The casino construction in South Richmond will be undertaken by Urban One, despite Cordish’s initial preference for the trendy Scott’s Addition neighborhood. However, due to organized opposition from residents in Scott’s Addition, Urban One’s prospects of securing the project are likely improved.

Urban One reacts to vote

Revenue and job creation were the key points of focus for many supporters during Monday’s meeting.

While casino gambling might not be their top preference for revitalizing a city, Urban One CEO Alfred Liggins emphasized in a statement that it offers numerous advantages.

The funding for this project will solely come from private investment, resulting in the generation of millions of dollars in crucial new tax revenue. This revenue can be directed towards various city priorities such as schools, affordable housing, workforce development, infrastructure, and more. The impact of this project on the city will be transformative, as it will not only attract additional tourism revenue but also enhance the overall quality of life for the residents of Richmond. Additionally, the project will create 1300 well-paying jobs that offer profit-sharing to employees and opportunities for successful careers. We also aim to be active community partners by investing in non-profit organizations and other worthwhile causes throughout the city.

In the months preceding the November vote, the company intends to actively promote and emphasize that messaging.

The construction and permanent full-time jobs created by ONE Casino + Resort, a sprawling 300,000-square-foot resort, would amount to a total of 5,600 positions.

Furthermore, Richmond stands to gain $100 million in both upfront and recurring payments. This influx of funds is expected to have a substantial impact, estimated at $5.7 billion over a span of 10 years.

According to Urban One officials, the project will include over 50 minority investors and ensure that at least 50% of jobs involve minority participation.

5 for 5 with Virginia casinos?

In the event that the Richmond project is approved by voters, it will become the fifth casino to be established in Virginia.

Casino projects received overwhelming support from voters in Bristol, Danville, Norfolk, and Portsmouth during the November 2020 elections. These cities are now on track to witness the opening of casino-resorts in 2024 and 2024.

The aim is to have One Casino + Resort operational by December 2024.

Should the project gain approval from voters, it would stand as the sole casino in the US owned by Black individuals.