The competition to build a casino-resort in Richmond is down to two companies. And With one of them already having the support of a majority of City Council.
Bally’s, the third contender, was not in competition after City Hall’s internal evaluation. And committee announced that, for a variety of reasons the Rhode Island company’s bid no longer was being considered.
With Bally’s out of the picture, Urban One of Silver Spring, Md which is seeking to open its first casino. And The Cordish Cos. of Baltimore, which wants to expand its Live brand operation to Richmond, are the two companies left.
Bally’s departure appears to be a boost for the Black-owned Urban One. And which proposed South Side location already has won the most public support.
Urban One is proposing to develop its ONE Casino+ Resort and recording operation on 100 acres on Walmsley Boulevard near the Philip Morris cigarette factory.
An informal poll of City Council members indicates that at least six members support Urban One’s bid. Which includes an offer to provide the city with an upfront payment of $60 million and an additional share of taxable revenue from gaming.
Cordish wants to install its Live! Casino and Hotel on the Bow Tie Cinema property at Leigh Street and Arthur Ashe Boulevard in North Side. However, Second District Councilwoman Katherine Jordan, who represents the area, has announced her opposition.
Cordish has offered an additional share of gaming revenue to the city. But has said only that it would provide up to $200 million over 15 years in donations to benefit the community. It has not publicly indicated whether the city would receive an upfront payment should it received for the project.
According to reports, Cordish, a real estate development company, likes the site. And they would consider its development even if it loses the casino bid.