Richmond’s list of contenders for a new casino is down to two — and Silver Spring media company Urban One Inc. (NASDAQ: UONE) remains in the running.
Virginia’s capital city removed a proposal from Bally’s Corp. (NYSE: BALY) from its list of contenders on Wednesday because of “concerns about site access, environmental factors, and required approvals from noncity entities that may not be granted or extend the project timeline,” according to a statement from Leonard Sledge, director of Richmond’s Department of Economic Development.
According to the Richmond Times-Dispatch, the Rhode Island-based company’s $650 million pitch for a section of northeast Richmond faced several weeks of public protests about traffic, public safety and the recent discovery of graves of enslaved and freed Black people near the site. Reston food service magnate Warren Thompson of Thompson Hospitality Corp. was attached to the Bally’s pitch, along with NFL Hall of Famers Willie Lanier, a Richmond native, and Darrell Green.
Urban One’s proposal includes a $517 million, 300,000-square-foot casino, 250-room luxury hotel, entertainment venue and 12 restaurants and bars and 55 acres of green space in South Richmond in partnership with Peninsula Pacific Entertainment, the owner of Colonial Downs racetrack in New Kent, Virginia, and Rosie’s Gaming Emporium, which has several locations in Virginia.
