The City of Richmond, Virginia, has narrowed its search for bidders for a resort casino development to three finalists, as the state continues to embrace both retail and online sports betting and gaming.
Following the submission of six proposals, the prospective casino managers have been narrowed down to Bally’s Richmond Casino Resort, Live! Casino and Hotel Richmond and One Casino + Resort.
“Live has not only been part of the decision making of how that money gets spent, but they’ve ensured that the money has been there, even in tough times,” remarked Ben Birge, President and CEO of Anne Ardunell Co Economic Development Corp.
Falling short of the requirements were Golden Nugget, Wind Creek Hospitality, and Pamunkey Indian Tribe & Reservation.
The three bidders were selected by the Evaluation Panel, after being reviewed based on factors such as the financial feasibility, organisational experience and the potential impact on economic development and city revenues.
Three virtual meetings will be held next week with each respective operator, and citizens of the city will be able to directly ask questions to the firm’s representatives.
In a video posted on the City of Richmond Department of Economic Development’s YouTube Channel, Live! Casino and Hotel outlined its proposal to lead the development, featuring a range of speakers supporting the firm’s bid.
The video focused heavily on local development initiatives, such as parks and recreation, education and affordable housing, as well as generation of tourism revenue, described by the company ‘the ultimate win-win’ situation.
Pete Smith, a former Richmond City Councilman, added: We’ve been fortunate to have a facility and a business that has given us that sort of revenue stream to address the needs of the citizens who live in the community, and they will always be grateful because really their house, they’re going to walk down the steps, they’re going to go to their driveway and they’re going to step on the sidewalk, that was funded by Live Casino and Hotel, and that right there is the beauty of our partnership and why this this relationship is so successful.”