The City of Richmond has chosen Urban One and Maryland Developer The Cordish Companies as the two finalists to build a new casino. Bally’s has been eliminated from consideration. Urban One CEO Alfred Liggins said a final decision will be made by the end of May or early June.
Urban One’s proposed casino and resort is called One and is a collaboration with Peninsula Pacific Entertainment. If approved, the project will include a 150-room hotel, restaurants and lounges and a 3,000-seat entertainment venue.
Calling it a world-class casino and resort destination, Urban One CEO Alfred Liggins says he has a vision to transform 100 acres along I-95 in Richmond which would pump over $500 million into the local economy and create 1500 jobs.
If Urban One is chosen, the company would need to go before the Richmond City Council to get on a ballot for Richmond residents to vote in a referendum to approve the casino.
Liggins has said the Urban One proposal is the best based on having the best location in an industrial area off Interstate 95 in South Richmond; having the most diverse group of more than 50 investors providing opportunity for minority ownership and wealth-building in the Richmond community; and offering the most robust amenities including 50 acres of green space for Richmond to enjoy, a music venue and a first-class casino and hotel.
So far the company has spent $1.4 million promoting its casino plan, including lobbying efforts, advertising, architectural designs and printed materials. That cost could rise to $4 million if urban One wins the contract. When the process began there were six proposals.
See more about the Urban One project HERE.