Virginia’s $600M Casino Resort in Petersburg Reaches New Heights. Here’s When It Could Open

Live! Casino & Hotel Virginia in Petersburg topped off its 12-story resort last Thursday (Oct. 8), with various state and local officials joining The Cordish Companies and Bruce Smith Enterprise in celebrating the construction milestone.

Live! Casino & Hotel Virginia is a $600 million investment led by Baltimore-based Cordish, which is expanding its Mid-Atlantic footprint that already includes casinos in Maryland and Pennsylvania. Cordish and Bruce Smith, an NFL legend and Virginia native, are betting big on Central Virginia on the belief that Petersburg can become a destination roughly 25 minutes south of Richmond and 45 minutes north of the North Carolina border.

“No longer will people be driving past Petersburg. They will be making plans to come to Petersburg,” Smith said, as reported by the Richmond Times-Dispatch. “We’re not going to let you down.”

The developers said construction remains on track for a “late 2027” opening. The property is being built just off Interstate 95 at Wagner Road.

Petersburg Temporary Casino Generates $100M+

Since late January 2026, Cordish and Smith have operated a temporary Petersburg casino inside a pavilion tent that features 926 slot machines and 32 live dealer table games.

The casino generated gross gaming revenue (GGR) of $14.2 million in August, pushing the interim facility past $100 million in year-to-date casino win. The permanent casino will feature many more gaming positions, with over 1,600 slots, 70 tables, a 35-table poker room, and a full sportsbook.

Over the resort’s first 10 years in operation, the developers anticipate that Live! Casino & Hotel Virginia will generate $2.8 billion in economic stimulus to the region and create over half a billion dollars in tax revenue, including $240 million for the City of Petersburg. The resort is expected to employ 1,600 people, with average compensation around $70,000, considerably higher than the city’s per capita income of less than $30,000.

“We look forward to delivering a project that will generate new jobs, attract significant tourism, drive economic opportunity, and serve as a catalyst for the region for decades to come,” said Cordish.

Live! Resort Details

Live! Casino & Hotel Virginia’s gaming space will be complemented by an “upscale” 200-room hotel with a resort pool, spa, and fitness center. The blueprint includes 20 restaurants, bars, and lounges, and a 70,000-square-foot multipurpose event center.

Cordish and Smith say the casino hotel is the first phase of their investment in Petersburg. Assuming the destination pays off, the developers have plans to invest another $800 million in an accompanying mixed-use project that would include residential housing, office space, retail shopping, a grocery store, and public greenspace.