Richmond Casino Property Acquired by City Government for $5.5 Million

Posted on: April 3, 2025, 01:07h. 

Last updated on: April 3, 2025, 01:53h.

Devin O'Connor @CasinoorgDevinO Read More
Expertise: Asia Pacific Gaming, Commercial Gaming, Legislation, Politics.
  • Property in Richmond, Va. that nearly became the grounds of a casino has been sold
  • The Richmond government paid $5.5 million for the 96 acres
  • A public park and possible development are planned

The City of Richmond, Va. has completed its $5.5 million acquisition of 96 acres of land off Walmsley Blvd. south of the downtown area along Interstate 95 that was twice targeted for a casino development.

Richmond casino property Philip Morris
Election signs for and against a casino in Richmond are seen in November 2023 outside the Hickory Hill Community Center. The land where a casino would have been built if the project had not been voted down has been purchased by the City of Richmond for $5.5 million. (Image: Shutterstock)

The city government paid Altria-owned Philip Morris $5.5 million for 2001 Walmsley Blvd. and 4700 Trenton Ave. in Richmond’s Southside. The land was where the city sought to allow a casino after state lawmakers designated the Virginia capital city for a gaming resort opportunity in 2020.

Richmond partnered with Urban One, a Maryland-based media conglomerate that says it represents “Black America.” Urban One had no experience building or operating a casino, though it was a minority investor in MGM National Harbor.

Urban One partnered with Peninsula Pacific Entertainment and Live Nation in presenting city voters with ONE Casino + Resort, a $517 million project billed as the “only Black-owned casino in the country.”

In November 2021, Richmonders narrowly rejected ONE Casino by a 51% to 49% local vote. City officials initiated a second referendum, but Richmond voted 62% to 38% against the $562 million scheme from Urban One and new partner Churchill Downs in November 2023.

No Casino, New Development

After Richmond residents again voted against allowing a casino, state lawmakers banned the city from conducting further referendums and moved the license 25 miles south to Petersburg. Voters there signed off on a casino undertaking from The Cordish Companies, which operates Live!-branded casinos in Maryland, Pennsylvania, and Louisiana.

The Richmond City Council and then-Mayor Levar Stoney (D) said Richmond missed out on an economic opportunity in voting down the casino.

The city says it will now move forward with fielding requests for proposals from interested developers for 45 acres of the site. Another 45 acres will be set aside for a public park, with the remaining acres used for new road infrastructure in and around the park and development site.

We are thrilled to announce the purchase of this property in Southside,” said Sharon Ebert, Richmond’s deputy chief administrative officer for planning and economic development. “It marks a pivotal step in our commitment to accessible community green space, new economic development, and greater transit connectivity for generations to come.”

Philip Morris previously housed an operations center on the property. In part of the $5.5 million transaction, the tobacco giant will demolish the structure and ready the land for future use.

Southside Economic Development 

Richmond’s more affluent neighborhoods, largely located north and west of downtown, were blamed for voting down the casino. City councilors say the casino would have greatly helped the downtrodden Southside.

When the casino failed, it was a council discussion to make sure we don’t lose sight of economic development in the Southside,” Councilor Kristen Nye (D-Southwest Richmond) said last fall in announcing the city’s plans to buy the casino site.

Building a park on the land will be the Southside’s first public greenspace in the otherwise industrial region. City leaders hope the property will also field interest from a developer that will bring jobs that positively impact the neighborhood.