Urban One Casino Plan Gets Vote This Fall in Richmond
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Richmond City Council members voted 8-1 to add a referendum on the November ballot so that residents can decide on Urban One’s casino project.
City Council approves a referendum to vote on the Urban One casino plan this fall. If approved, work on a new casino will begin. The new resort will be located on property that Philip Morris USA owns.
Urban One casino plan would create an estimated 1,000 jobs and generate $30m in annual tax revenues. If voters approve the plan this November, Urban One will give the city an upfront payment of $25m.
Some people are opposed to the Urban One casino plan. Councilman Andreas Addison supports the plan and served on the evaluation panel for the project. Richmond for All is against the proposal. They believe casinos are predatory and would harm the community.
Urban One will operate a casino in Richmond. It will offer gaming, sportsbook, hotel, theater, bars and restaurants. The company will be responsible for paying a 3% gambling revenue tax. If the casino can open by December 31, 2023, the tax rate will drop to 1.875%.
