Six Companies Bid for Richmond Virginia Casino
In November 2020, five Virginia localities approved live casino gambling. With that, the state also approved online sports betting and real money online casinos. However, Virginia gambling laws permit a sixth locality to approve casino gambling.
Richmond is the one locality that abstained from holding a referendum vote. They did so to evaluate options, and boy do they have them. According to reports, there are six companies bidding for the contract. Among them is a group that’s already won the rights to one Virginia casino.
Six Companies Bidding for Richmond Va Casino
Richmond, Virginia decided to abstain from voting on a casino referendum in 2020. The reason was that the city wanted to evaluate its options. Instead, that vote will occur in November 2021. Leading up to that vote, the City Council must decide on which casino will have the rights to build in the city.
According to recent reports, there are six companies looking to bid for the project. Here are the six companies that have officially submitted proposals:
- Golden Nugget
- ONE Resort
- The Cordish Companies
- Pamunkey Tribe
- Wind Creek Hospitality
There are two Indian tribes battling for the casino. The Pamunkey Tribe is the first and already has the rights to the casino site in Norfolk, VA. Wind Creek Hospitality is a gaming brand for the Poarch Band of Creek Indians.
Richmond City mayor Levar Stoney spoke on the proposals, stating, “Receiving six proposals demonstrates that the city remains an attractive place for investment. We are committed to a complete and competitive evaluation and selection process so that Richmonders will have the best possible project to consider when voting on November 2nd.”
Once lawmakers decide which proposal to accept, they will attach that proposal to the state referendum. Voters in the region will vote on it on November 2nd.
Pamunkey Tribe Projected Frontrunner
The Pamunkey Tribe has been the odds-on favorite to receive the casino project since it was announced that Richmond would wait until 2021 to vote. With a project already secured in Norfolk, it would be easy for the two casinos to partner together and offer enhanced promotions and rewards to players.
With that said, we could see a couple of others jump forward to the forefront. Golden Nugget is a recognized and established brand on the East Coast. It has proven particularly successful in New Jersey and they could bring that success to Virginia. Bally’s has been growing its brand nationally since Twin River Worldwide Holdings purchased the brand from Caesars.
One project to watch is the ONE Resort. If approved, ONE Resort would become the first black-owned casino and resort property in the United States. Peninsula Pacific Entertainment will be in charge of casino operation and is already a prescience in Virginia with the Rosie’s Gaming Emporiums in multiple locations. Richmond has a substantial African-American population and the prospect to bring significant diversity to the Virginia casino industry may prove a tipping point.
Richmond Casino Should Pass Without Issue
Even before watching the other areas in Virginia easily pass casino resolutions, I figured Richmond to be a slam-dunk to pass casino regulation. I am a former Richmond resident and know that the region is a bit more progressive than other areas of the state.
Furthermore, a casino will bring many new jobs to the region. Richmond struggles with unemployment and there is a serious divide between the wage classes. You can even see the divide physically by driving through the area.
As far as which project I think will pass, I still think that the Pamunkey Tribe will be the eventual choice. They have been the primary focus since the start and there hasn’t been enough spin on other proposals to make me think they won’t win the bid. Time will tell and we will let you know which proposal Richmond eventually selects.