Petersburg Forms Board to Guide Live! Casino Virginia Revenue

Petersburg, Virginia has established a seven-member Local Advisory Board. The board will recommend which areas will receive the 5 percent portion of the annual payments Cordish will make under its Live! Casino Virginia project.

The board will review funding requests and submit its recommendations to the city council. The council will make the final allocation decision. Under the agreement, education, housing improvements, economic development and support for local nonprofit organizations are among the priority areas.

The board includes representatives from local government, the Virginia state legislature, economic development offices and the casino operator. Mayor Sam Parham said the board will help direct resources to projects and services for residents, including young people and older adults.

Under the agreement Cordish signed in 2024, the company will pay Petersburg $16 million over 10 years. Separately, a one-time payment of $15 million was made after the temporary casino opened in January. The temporary facility has 75,000 square feet of gaming space, more than 900 slot machines and over 30 table games.

Construction of the permanent facility is ongoing, with an opening planned for the end of 2027. On the same 100-acre site, the facility will include 1,600 slot machines, more than 60 table games, a 22-table poker room and a sportsbook. It will also feature about 20 restaurants and bars, a 200-room hotel, and meeting and entertainment spaces.