December 28, 2020
City’s opportunity for revenue-increasing economic development project subject to voter referendum
Mayor Stoney announced today that the city has issued a request for qualifications/proposals (RFQ/P), launching a competitive process to bring a world-class resort casino to Richmond, subject to voter approval.
The proposals are due to the city by no later than 3:00 pm EST on February 22, 2021. At that time, the administration will begin the selection process, which will include resident feedback and third-party expert consultation.
Legislation adopted by the Virginia General Assembly and signed into law by Governor Northam earlier this year authorizes the city to host a casino gaming establishment, subject to the residents of Richmond approving a casino referendum. That referendum is anticipated to be on the ballot in November of 2021. The law requires that, prior to requesting the court to order a casino referendum, the city select a preferred casino operator and location.
“This competitive selection process will allow us to find the best opportunity for Richmond, an economic development project that includes well-paying jobs and workforce training opportunities,” said Mayor Stoney. “Ultimately, the operator selected for this project must bring to the table the economic opportunity and community benefits voters will support in November.”
“This project represents a tremendous opportunity to facilitate significant economic development at the sole expense of the casino operator, which will boost the city’s entertainment and tourism industry, create jobs, and provide significant new revenues to the city,” said Director of Economic Development Leonard Sledge. “We anticipate multiple qualified entities to be interested. Subjecting potential operators to a robust competitive review process ensures that the city can make the most of this opportunity on behalf of its residents.”
The city will review the responses to the RFQ/P and evaluate the comparative merits of each potential operator’s vision for a Richmond resort casino and the socioeconomic benefits that such a project may bring to Richmond, its residents and its business community.
The city encourages interested parties to propose a Casino project that accomplishes the following city objectives:
– Induces capital and ongoing investment in the city to make a significant and lasting contribution to the community;
– Creates sustainable and well-paying jobs, new employment opportunities, and workforce training programs for Richmond residents;
– Acts as a catalyst for additional economic development in the city and enhances the city’s economic and community development objectives;
– Contributes to the city’s efforts to attract sustainable economic benefits from tourism;
– Maximizes the economic impact of the project by including components beyond gaming, including hotel, non-gaming entertainment, or other commercial activities;
– Supports the city’s mission to facilitate, produce and advance opportunities for minority business enterprises and emerging small businesses to successfully participate in the full array of contracting opportunities available in the City of Richmond;
– Adds to and support the existing Richmond entertainment community;
– Provides a high-quality development of which Richmond can be proud;
– Is located in an area supported by the community as an appropriate location for a casino and mitigates any potential adverse impacts on the community, the city and residents.
– Provides resources and additional revenues to the city.
Interested parties can view the RFQ/P here or at www.rva.gov/economic-development/resort-casino. Responses must be delivered to Leonard Sledge, Director of Economic Development, per the instructions in the RFQ/P by no later than 3:00 pm EST on February 22, 2021.
This press release was produced by the City of Richmond.The views expressed here are the author’s own.