• About
  • Contact Us
Sunday, August 14, 2022
Crypto Currency Financial
  • Home
  • Crypto News
  • Press Release
  • Blockchain
  • Cryptocurrency
  • NFT
  • Contact Us
No Result
View All Result
Crypto Currency Financial
No Result
View All Result

Richmond Considers Pushing Back Casino Opening to Fall 2024

Max Steven by Max Steven
July 13, 2021
in Uncategorized
395 4
0
Richmond Considers Pushing Back Casino Opening to Fall 2024
548
SHARES
2.5k
VIEWS
Share on FacebookShare on Twitter

The Richmond City Council is considering extending the previously targeted December 31, 2023 deadline for the opening of the city’s planned casino to October 1, 2024, news emerged Monday.

City officials explained that pushing back the deadline would give the casino developer more time and flexibility while waiting for a license from the Virginia Lottery.

The final terms of the casino development project are still subject to approval by the Richmond City Council. The scheme also needs approval from voters in a November 2 citywide referendum. If the casino measure passes, the Virginia Lottery would then assess the project and decide whether to license the city’s preferred casino developer.

In June, the City Council voted 8-1 to authorize the referendum for the $600 million project presented by media giant Urban One in partnership with Los Angeles-based developer Peninsula Pacific Entertainment.

Urban One plans to build One Casino + Resort on property near the intersection of Commerce Road and Walmsley Boulevard that is currently owned by Philip Morris USA. The gaming complex will feature 100,000 square feet of casino space with slot machines, table games, and a sportsbook, a 250-room hotel, a 3,000-seat theater, and 12 bars and restaurants, among other amenities.

As mentioned above, city officials previously projected that the resort would open doors by the end of 2023. However, they recently offered to extend that earlier deadline in exchange for an additional $1 million on top of the previously agreed $25 million upfront payment that Urban One has agreed to pay if the casino measure passes this coming November.

No Authority over Certification Process

Richmond City Director of Economic Development Leonard Sledge told the City Council at a meeting last week that the primary reason for the potential deadline extension is “recognizing that neither the city nor One Casino and Resort have control or autonomy over the timing of the certification process for the Virginia Lottery.”

Urban One spokesperson Mark Hubbard told local media that the company needs flexibility because the state gambling watchdog has up to 12 months to review its casino proposal and decide on whether it would grant the necessary license.

Mr. Hubbard elaborated that they plan to submit their license application no later than mid-December 2021, assuming that the casino measure passes on November 2 and that “this is a big project and there will be many moving parts along the way.”

Richmond is one of five Virginia cities that were allowed under the state’s new casino law to license Las Vegas-style gambling venues if approved by local voters, with Danville, Norfolk, Portsmouth, and Bristol being the other four.

Urban One and Richmond officials say the scheme could be a boon for the city as it would create 1,300 new jobs and potentially spur additional development in the host area. The casino complex is projected to generate $30 million in annual tax revenue for the city.

Source: Opening date of proposed South Richmond casino might not be until fall 2024, Richmond Times-Dispatch, July 12, 2021

Tags: CasinoConsidersfallOpeningPushingRichmond
Max Steven

Max Steven

Max has keen interest in what cryptocurrencies have to offer in regards to NGO’s, governments and the financial system.

Related Posts

BIB Meta and the Confidence of Web3 Innovation

BIB Meta and the Confidence of Web3 Innovation

August 13, 2022
WHAT IS VERSAILLES HEROES & HOW TO PLAY-TO-EARN?

WHAT IS VERSAILLES HEROES & HOW TO PLAY-TO-EARN?

August 6, 2022
Pando Asset Lists First Crypto ETP on SIX Swiss Exchange

Pando Asset Lists First Crypto ETP on SIX Swiss Exchange

August 3, 2022
BIB Exchange, The Revolutionary Force Towards Crypto Trading Opportunities

BIB Exchange, The Revolutionary Force Towards Crypto Trading Opportunities

July 29, 2022
New reserve cryptocurrency protocol, PLUTO launches on Waves Blockchain claiming to beat bear markets

New reserve cryptocurrency protocol, PLUTO launches on Waves Blockchain claiming to beat bear markets

July 22, 2022
FAMEEX Promises Considerate Approaches to Purse Regulatory Compliance and Protect the Interests of Traders

FAMEEX Promises Considerate Approaches to Purse Regulatory Compliance and Protect the Interests of Traders

July 20, 2022

Trending

BIB Meta and the Confidence of Web3 Innovation
Press Release

BIB Meta and the Confidence of Web3 Innovation

1 day ago
WHAT IS VERSAILLES HEROES & HOW TO PLAY-TO-EARN?
Press Release

WHAT IS VERSAILLES HEROES & HOW TO PLAY-TO-EARN?

1 week ago
Pando Asset Lists First Crypto ETP on SIX Swiss Exchange
Press Release

Pando Asset Lists First Crypto ETP on SIX Swiss Exchange

2 weeks ago
BIB Exchange, The Revolutionary Force Towards Crypto Trading Opportunities
Press Release

BIB Exchange, The Revolutionary Force Towards Crypto Trading Opportunities

2 weeks ago
New reserve cryptocurrency protocol, PLUTO launches on Waves Blockchain claiming to beat bear markets
Press Release

New reserve cryptocurrency protocol, PLUTO launches on Waves Blockchain claiming to beat bear markets

3 weeks ago

About

The cryptocurrencyfinancial publishes regular news, analysis and opinion pieces on the latest developments in this fast-moving space. We offer the latest crypto news, expert pricing analysis and insight on the latest ICO's.

Contact Us: [email protected]

Categories

  • AI Trading
  • Axia
  • Bitcoin
  • Blockchain
  • Blockchain News
  • Business
  • Crypto
  • Crypto News
  • Cryptocurrency
  • Cryptonews
  • Cryptos
  • Deepcoin
  • Gaming
  • Guest Post
  • ICO
  • Metaverse
  • News
  • NFT
  • Press Release
  • Technology
  • Tezro
  • Token
  • Trading
  • TRADING GUIDES
  • Wallets

Tags

2020 Announces Betting Bitcoin blockchain Brides cannabis Casino Casinos Colorado Content coronavirus Covid19 crypto Cryptocurrency Currency Deal financial foreign Gambling Games Gaming Group Launch Launches live marijuana market Online Partners Partnership Play pot Pragmatic Red reports revenue Simple Slot Slots Solutions Sports Supply unveils William
  • BIB Meta and the Confidence of Web3 Innovation
  • WHAT IS VERSAILLES HEROES & HOW TO PLAY-TO-EARN?
  • Pando Asset Lists First Crypto ETP on SIX Swiss Exchange
  • BIB Exchange, The Revolutionary Force Towards Crypto Trading Opportunities
  • New reserve cryptocurrency protocol, PLUTO launches on Waves Blockchain claiming to beat bear markets
  • About
  • Contact Us

Associated with Blockchain Press Media Network

No Result
View All Result
  • Home
  • Blockchain
  • Crypto
  • News
  • Press Release
  • Price Analysis

Associated with Blockchain Press Media Network

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)
    $47,760.000.100% 24H
    BITCOIN
    24H : 0.100%
    Volume : $25,691,746,641.00
    Marketcap : $902,767,395,534.00
  • ethereumEthereum(ETH)
    $3,750.30-0.42% 24H
    ETHEREUM
    24H : -0.42%
    Volume : $15,543,537,817.00
    Marketcap : $446,191,570,291.00
  • binancecoinBinance Coin(BNB)
    $523.71-0.25% 24H
    BINANCE COIN
    24H : -0.25%
    Volume : $1,715,282,504.00
    Marketcap : $88,112,540,019.00
  • tetherTether(USDT)
    $1.0000.050% 24H
    TETHER
    24H : 0.050%
    Volume : $52,703,800,023.00
    Marketcap : $78,519,198,598.00
  • solanaSolana(SOL)
    $175.020.210% 24H
    SOLANA
    24H : 0.210%
    Volume : $1,660,210,957.00
    Marketcap : $54,115,741,275.00