Two years ago, voters in Virginia’s capital city narrowly rejected a referendum that would have opened the door for a proposed casino.
The project — this time branded the Richmond Grand Resort and Casino — would be located on the same former tobacco company site just off Interstate 95 in south Richmond that was identified in the first proposal. It’s a joint venture between Urban One, a diversified media company; Churchill Downs, the Louisville-based operator of the Kentucky Derby that also runs gambling establishments across the country; and a number of currently undisclosed private investors.
They say all that is possible without the type of taxpayer-funded sweeteners projects of a similar scale typically seek. A separate committee, calling itself the “Richmond Anti-Corruption League,” is being led by Victoria Cobb, president of the socially conservative Family Foundation of Virginia. Asked about the financing of the project, Carstanjen said the specifics would be finalized and made public after the referendum.by approving legislation allowing five to be built around the state if the projects first secured voter approval. Supporters argued the casinos would be a dramatic economic boost to struggling areas.
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