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Bruce Smith Enterprise

Petersburg, Virginia Residents Vote Yes! for Live! Casino Resort

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The citizens of Petersburg have spoken, and the historic casino referendum has passed with overwhelming support of over 80% of Petersburg residents voting in favor of the $1.4 billion Live! Casino Resort project, marking the highest support for a casino referendum in Virginia history. This marks a monumental step forward for the Petersburg community, as the approval paves the way for the development of a world-class casino and entertainment destination that promises to revitalize the local economy, create jobs, and invest in much-needed community services.

Live! Casino Resort, which will be codeveloped by The Cordish Companies and Bruce Smith Enterprise, is projected to bring significant economic benefits to the region. This development will include not only gaming and entertainment options but also restaurants, hotels, and event spaces, making Petersburg a destination for tourism and entertainment in Virginia. Construction will commence after the vote is certified and all required approvals are received, with an anticipated opening date of the initial first phase casino in 2026.

“We are deeply gratified by the community’s affirmation of this project and very hopeful about the meaningful impact it will have on the city’s future. The casino will not only create good-paying jobs for our residents but will also attract visitors statewide and beyond, stimulating local businesses and in turn producing an overall ripple effect of economic growth. Now that the voters have spoken, we look forward to working with the City of Petersburg and the Virginia Lottery to secure all of the necessary permitting, licensing and regulatory approvals for this project to move forward,” said Bruce Smith, Owner of Bruce Smith Enterprise, Pro Football Hall of Fame Member, Developer and Community Leader, and codeveloper of the planned Live! Casino Resort in Petersburg.

The casino project is part of a larger revitalization plan for Petersburg, which has faced economic challenges in recent years. This initiative, alongside other investments in infrastructure and local businesses, will position the city for long-term growth and success.

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“The approval of the destination resort and casino in Petersburg marks a significant milestone for our City. Voter approval follows a three-year journey on this transformative project that will bring positive change to Petersburg for generations. This destination resort, casino, retail, and residential development will be the largest economic and tourism project in Petersburg’s history. City Council and administration look forward to working with The Cordish Companies and Bruce Smith Enterprise to positively impact our community and its prosperity,” said Mayor Sam Parham, City of Petersburg, VA.

Live! Casino Resort will be a catalyst for change and significant urban development, transforming the City through the creation of a thriving entertainment and hospitality destination. The project will set a new standard for gaming, hotels, and entertainment in the Commonwealth, and serve as a new world-class attraction for Petersburg and the greater Central Virginia region. The project site, ideally situated at the intersection of Wagner Road and Interstate I-95, has easy access on and off the East Coast’s major north-south interstate.

“Today is a new day for residents of Petersburg. This community has waited a long time for an economic development project of this size and scale, which will provide a huge boost for the City and the entire region. We cannot wait to start hiring local residents and partnering with local businesses and entrepreneurs. Thank you, Petersburg, for placing your trust and confidence in our team. We look forward to delivering results for you and being a part of this great community for decades to come,” said Zed Smith, Chief Operating Officer of The Cordish Companies.

Bruce Smith

Bruce Smith Enterprise and The Cordish Companies Unanimously Selected by City of Petersburg to Codevelop $1.4 Billion Transformative Mixed-use Development in Petersburg, Virginia

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Bruce Smith Enterprise and The Cordish Companies have been selected by the City of Petersburg, Virginia to codevelop a $1.4 billion Live! Gaming & Entertainment District, anchored by Live! Casino & Hotel Virginia. The Petersburg City Council unanimously approved Bruce Smith Enterprise and The Cordish Companies as the City’s preferred development partner on the transformative mixed-use project. The proposed project will generate billions of dollars in economic benefits and spinoff development, create thousands of new jobs and benefits to the local community, and become a major new tourist destination for the City and the Central Virginia region.

Petersburg Mayor Sam Parham said: “The City of Petersburg is thrilled to have selected Bruce Smith Enterprise and The Cordish Companies as development partners after a thorough RFP process and extensive review by outside consultants. An important part of our evaluation was to identify a development team with a proven track record in developing and operating mixed-use and casino properties, a long history of revitalizing cities across the country, and strong community engagement practices. Bruce Smith and Cordish’s experience, comprehensive project master plan and visionary approach, ideal site location, robust financial strength, and commitment to swift market entry make them the clear and unanimous choice of both our consultants and City Council. The City has worked very hard to get to this point, and we believe that it is imperative to continue moving this project forward as expeditiously as possible so that we can meet the deadline to get this in front of our citizens for a referendum vote this November.”

The project site is ideally situated at the intersection of Wagner Road and Interstate I-95 with easy access on and off the East Coast’s major north-south interstate. Live! Gaming & Entertainment District – anchored by Live! Casino & Hotel Virginia – will be a catalyst for change and significant urban development, transforming the City through the creation of a thriving entertainment and hospitality destination. Live! Casino & Hotel Virginia will set a new standard for gaming, hotels, and entertainment in the Commonwealth, and serve as a new world-class attraction for Petersburg and the greater Central Virginia region. The partners intend to quickly open an initial first phase casino within a year of voter approval to begin creating jobs, vendor opportunities, and economic benefits immediately for the City of Petersburg and its residents.

Bruce Smith Enterprise and The Cordish Companies have a longstanding relationship. The joint venture partnership is the first-of-its-kind in the gaming and entertainment industry to have a minority-owned business enterprise as co-development partner. The Petersburg ownership team, which makes up 50% minority equity participation, will become the largest minority ownership opportunity in the gaming and hospitality industry in the country, and will become a model for other projects in Virginia and throughout the nation. The team includes substantial investment from prominent minority businesses and individuals with a long history of residing, working, and investing in the Commonwealth including former Cox Communications GM and philanthropist Gary McCollum and former Philadelphia Eagle and University of Virginia All-American receiver Billy McMullen.

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“Bruce Smith Enterprise and The Cordish Companies are thrilled and extremely honored to be selected by the City of Petersburg to codevelop a $1.4 billion, transformational mixed-use development,” said Bruce Smith, Pro Football Hall of Famer, Prominent Virginian Developer and Community Leader.

“A venture of such magnitude offers a historic opportunity to revivify this jewel of a city, and we are galvanized and ready to deliver a project that uplifts and radically restores the life-blood of Petersburg and its citizens. We look forward to collaborating with the City and Commonwealth to build a world-class Live! gaming and entertaining destination that will create thousands of high-paying jobs and generate billions in economic benefits that profit the citizens of Petersburg. In the end, this development will offer more than a premier resort casino; it will represent a hopeful new beginning,” Bruce Smith added.

“We extend our thanks to the entire Petersburg City Council for its thoughtful decision to select Bruce Smith Enterprise and The Cordish Companies as development partners for this transformative, world-class destination in Petersburg. The Cordish Companies’ track record for designing, financing, building, and operating large-scale mixed-use developments and casino resort destinations in the country is unmatched, and together with Bruce as our development partner, no one comes close to our combined history of success and capabilities to deliver on a destination of this scale and complexity. Together, we share core values in investing for the long-term and creating jobs and lifechanging opportunities for the community, and we are excited to continue moving forward on executing on those commitments. We are look forward to working with the City and Commonwealth to deliver a game-changing destination that will benefit Petersburg for generations to come,” Zed Smith, Chief Operating Officer of The Cordish Companies, said.

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Bruce Smith

Bruce Smith Enterprise and The Cordish Companies Partner on Proposal to Codevelop $1.4B Transformative Mixed-use Development in Petersburg, Virginia

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Bruce Smith Enterprise and The Cordish Companies have responded to a request for proposal issued by the City of Petersburg, Virginia with plans to codevelop a $1.4 billion Live! Gaming & Entertainment District, anchored by Live! Casino & Hotel Virginia. The proposed project will generate billions of dollars in economic benefits and spinoff development, create thousands of new jobs and benefits to the local community, and become a major new tourist destination for the City and the Central Virginia region.

The proposed site is ideally situated at the intersection of Wagner Road and Interstate I-95 with easy access on and off the East Coast’s major north-south interstate, making it the premier location in the Commonwealth. The partners also intend to quickly open an initial first phase casino within a year to begin creating jobs, vendor opportunities and economic benefits immediately for the City of Petersburg and its residents.

Bruce Smith Enterprise and The Cordish Companies’ longstanding relationship dates back to 2008, and most recently the team has partnered to bring a world-class casino resort destination to the Commonwealth. The joint venture partnership is the first-of-its-kind in the gaming and entertainment industry to have a minority-owned business enterprise as co-development partner.

The Petersburg ownership team, which makes up 50% minority equity participation, will become the largest minority ownership opportunity in the gaming and hospitality industry in the country, and will become a model for other projects in Virginia and throughout the nation. The team includes substantial investment from prominent minority businesses and individuals with a long history of residing, working, and investing in the Commonwealth including former Cox Communications GM and philanthropist Gary McCollum, former Philadelphia Eagle and University of Virginia All-American receiver Billy McMullen, and the Reynolds Family, founding family of Reynolds Metals.

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Bruce Smith Enterprise, led by legendary NFL Hall of Fame member and Virginia native Bruce Smith, is a commercial real estate firm that specializes in the development of premier mixed-use projects. Headquartered in Virginia Beach, VA, the company has developed notable properties throughout the state and the Mid-Atlantic region that feature the cohesive and seamless integration of residential, hotel, Class A office, and retail space. Since retiring from professional football in 2004 after a prolific 19-year career, the NFL’s All-Time Sack Leader has endeavored to bring the same level of unparalleled excellence, diligence, and leadership that he honed as a veteran on the field to the management of Bruce Smith Enterprise. The successful development of timeless mixed-use properties that survive and withstand trends of the marketplace, strengthen, and invigorate the local economy and create jobs are core values of Bruce Smith Enterprise’s primary mission.

Bruce Smith Enterprise has flourished since its inception in 2004, partnering with Armada Hoffler in the development of the Mandarin Oriental Hotel, The Swedish Embassy, Harbourside Office Building in Washington, D.C., and Blocks 7 and 10 in The Town Center of Virginia Beach, VA. Bruce Smith Enterprise’s portfolio also includes the Hilton Garden Inn and Smith’s Landing apartment community in Blacksburg, VA – a project built to service the needs of students, alumni, and their families at Smith’s Virginia Tech alma mater – as well as the Hyatt House Hotel and 27 Atlantic Apartments in Virginia Beach.

“I love Virginia. I was born and raised here. I attended VA Tech as a student athlete here, and after retiring from the NFL, I returned home with the inspiration and determination to help make it a more advantageous and prosperous place to live,” said Bruce Smith, Pro Football Hall of Famer, Prominent Virginian Developer and Community Leader.

“I have spent significant time in Petersburg talking with students and the community at large. I’ve had the opportunity to hear first-hand their stories of hardship, and I understand the struggle and the enormous challenges they face. Working as a developer in the state for over 20 years, I’m confident that Bruce Smith Enterprise and The Cordish Companies are the right partners for this undertaking, because we share the same vision and understand the needs of the City of Petersburg and its citizens. Together we can do remarkable work in Petersburg that will transform lives, restore hope, and ultimately imbue a new energy of revitalization that will be felt for generations. Our proposal represents a historic opportunity to prioritize the Petersburg community and put Virginians first,” Bruce Smith added.

“We are incredibly proud to join Bruce Smith and his team to present our vision for a transformational, world-class destination in Petersburg. As our development partner, Bruce shares our core values in investing for the long-term and creating jobs and opportunities for the community. No one comes close to our combined history of success and capabilities to be able to deliver a destination of this scale and complexity. The Cordish Companies’ track record for designing, financing, building, and operating large-scale mixed-use developments and casino resort destinations in the country is unmatched. Our success includes achieving every commitment, program, and goal in our proposals for cities across the country. We are committed to excellence, creating unforgettable experiences for our guests, and treating our team members and communities like family,” Zed Smith, Chief Operating Officer for The Cordish Companies, said.

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