Stoney: “This was a US$565 million opportunity lost to create well-paying jobs, expand opportunity”
Richmond voters rejected the proposed US$565 million casino in last week’s referendum with just over 51.4% of voters against the measure. According to Virginia Department of Elections’ unofficial results, 1.200 voters oppose the casino project, while 48.56% of voters approved the casino for Richmond.
Billed as the nation’s only Black-owned casino and resort, the project was projected to produce an anticipated 1,300 jobs, as well as a US$25.5 million upfront payment to the city government. ONE Casino + Resort was to feature 250 hotel rooms, a 3,000-seat theatre, 100,000 square feet of gaming space, 15 bars and restaurants, and a 15,000-square-foot soundstage for Urban One film, TV and radio productions.
“While extremely disappointed, our entire Urban One family, my mother and business partner, Cathy Hughes, and I accept the will of city of Richmond residents,” Urban One CEO Alfred C. Liggins III said in a statement. “For the last two years, we have worked so hard to build a large and inclusive tent with our ONE Casino + Resort project. We had a lot of loyal supporters who worked tirelessly on behalf of this project and for whom we will be eternally grateful. We ran a robust campaign and strongly believe this is a hugely missed opportunity for Richmond residents to have a tourist attraction that would have provided the financial resources to improve schools and roads as well as enrich the lives of its citizens. Urban One has been a part of the fabric of Richmond for the last 22 years, and we will continue our tradition of serving the community.”
The media company, which owns 55 radio stations and a cable network, promised to spend US$50 million on productions in Richmond and also planned to partner with Virginia Union University and Reynolds Community College for workforce training. Urban One predicted the casino would have a US$5.7 billion economic impact during its first 10 years. Urban One owns four radio stations broadcast in Richmond.
Richmond Mayor Levar Stoney also issued a statement Wednesday morning. “From the beginning, we said the people would decide. They have spoken, and we must respect their decision. While I believe this was a US$565 million opportunity lost to create well-paying jobs, expand opportunity, keep taxes low and increase revenue to meet the needs of our growing city, I am proud of the transparent and public process we went through to listen to our residents and put this opportunity before our voters.”
Richmond was the last of five economically challenged Virginia cities to vote on a casino referendum after the Virginia General Assembly allowed Bristol, Danville, Norfolk, Portsmouth and Richmond to have one commercial casino per locality if approved by local voters. The other four cities passed referendums with large margins in 2020, and their casinos are expected to be finished in late 2022 and 2023.
