Urban One, Churchill Downs unveil plans for newly proposed Richmond casino
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RICHMOND, Va. (WRIC) — The new proposal for Urban One and Churchill Downs’ $562 million resort, casino and entertainment was unveiled on Thursday, Aug. 31, with all new details on what the project would entail.
The announcement comes hot off the heels of recent wins for the proposal. Last week, a judge ruled in favor of the City of Richmond’s petition to hold another casino referendum in November later this year. And, earlier on Thursday, it was announced that Virginia’s state budget deal would not block the casino vote either.
The casino project will now be a joint venture between Urban One — a Black-owned media company — and Churchill Downs — a horse racing, gaming and entertainment company.
According to advocates, the proposed project will feature the following:
- A 250-room luxury hotel
- Resort-style amenities such as a luxury spa, fitness center, outdoor pool and cabanas
- A 55-acre park for concerts, pickleball, festivals, farmer’s markets and other events
- A gaming floor with card games and table games like slot machines, poker, blackjack, craps, roulette and slot machines
- A 3,000-seat concert venue to host touring musicians, comedians and other entertainers
- Fine dining options including local restaurants, breweries and suppliers from Richmond’s food scene
- Film and audio production facilities
- Event space for conventions, sporting events, trade associations and faith communities
Supporters of the project claim that the new resort and casino will bring 1,300 new jobs that “average $55,000 in annual compensation and benefits” and “thousands of union jobs during construction.”
Other estimates of what the project could bring, according to supporters, include:
- $30 million tax revenue annually
- An immediate investment of $26.5 million in the City of Richmond
- $16 million in charitable contributions over the course of 10 years
- 225,000 tourists each year
- $325,000 investment in equitable transit options annually
- $25 million in free advertising over the course of 10 years
- $50 million in television, film and audio production over the course of 10 years
“Richmonders told us they want great jobs, community investment, greenspace, and top-tier entertainment. With Richmond Grand, we’ve delivered,” said Alfred Liggins, III, CEO of Urban One, Inc. “Richmond Grand will offer something for everyone—incredible shows, exciting gaming and entertainment, outdoor recreation, luxurious spas and pools, and a huge addition of jobs and tax revenue for the city. This is a plan by Richmond, for Richmond, and when we vote yes, all of Richmond wins.”
Richmond was among five Virginia cities that were affected by new legislation in 2019 that allowed voters to decide if they wanted casino gambling. Of the five cities, Richmond was the only one where voters rejected a casino project when it was put on the ballot.
Apprehension for the project still remains with some residents, such as Paul Goodman who told 8News he believes the casino could potentially exploit residents.
“I say put the interests of the city first, put the interest of all the citizens like you want the city to improve,” Goodman said. “You’re not going to improve it by bringing in a casino, a no-bid project to our city. And I just hope people will think that think about that.”
Early voting for the Nov. 7 elections starts on Sept. 22.
