When Virginia decided to step forward to modernize its casino gambling sector, the first thing it put focus into the development movement of the state’s market. Around five cities had been designated as possible targets for gambling venues. The wait is now for the local residents to agree, and according to the latest update, conditions in three cities are already developing favorably.
The next November, voters in Richmond city will decide whether they would love to have a casino in their community or not. Several big names among the casino operators are now trying to convince them over showing alluring prospectus and submitting massive proposals to the Richmond Department of Economic Development (RDED).
The RDED has got the charge of foreseeing the allover bidding process and has received a minimum of three proposals on its desk. One of those proposals is from The Cordish Companies, which proposes to invest in a $600 million project in the most famous district in Richmond, Scott’s Addition Historic District. Cordish is behind some popular live casinos in Pennsylvania and Maryland and is currently envisioning another new live casino, Casino & Hotel Richmond.
Cordish Companies Radiates Faith
The company has chosen the former movie theatre complex as the venue for the newly envisioned Casino. In their proposal, the company expressed their plan to build a 250,000-square-foot gaming floor along with a 300 keys hotel and an entertainment space which will have room for up to 4,000 people.
Cordish has firm faith in itself, and it certainly thinks itself the best among the competitors who are also bidding for this Richmond project. About the source of such faith, Cordish partner and Chief Operating Officer Zed smith explained that no development or gaming company in that country had a success record as massive as theirs. They had designed, financed, built, and operated large-scale casinos, resorts in regional markets.
The casino operator is to appear suing other Virginia cities as it feels it was cheated out of the opportunity of opening a property there. Like the city Norfolk chose the Pamunkey Indian Tribe over Cordish for its casinos and that the make Cordish it had been stabbed in its back.