Bruce Smith, Cordish to Build 1.4B Entertainment District in Petersburg  – Connect CRE

Bruce Smith Enterprise and The Cordish Companies have proposed a $1.4 billion Live! Gaming & Entertainment District in Petersburg, VA. This project, anchored by Live! Casino & Hotel Virginia, aims to create and preserve affordable homes and generate economic benefits, including job creation and spinoff development.  

The proposed site is situated at the intersection of Wagner Road and Interstate I-95 with access on and off the East Coast’s north-south interstate. The partners also intend to open an initial first-phase casino within a year. 

Bruce Smith Enterprise and The Cordish Companies’ relationship dates back to 2008, the partnership, with a 50% minority equity participation, aims to set a model for minority ownership opportunities in the gaming and hospitality industry. The team includes investment from minority businesses and individuals including former Cox Communications GM and philanthropist Gary McCollum, former Philadelphia Eagle and University of Virginia All-American receiver Billy McMullen, and the Reynolds Family, founding family of Reynolds Metals.