BALTIMORE, April 21, 2021 /PRNewswire/ — The Cordish Corporations’ Stay! On line casino & Lodge Richmond was chosen at present by the Metropolis of Richmond to advance as one among two finalists in a bid to deliver a resort on line casino to the Metropolis. The corporate’s proposal is by far the strongest of the remaining two, together with on such metrics because the Firm’s observe document and expertise, job creation, tax revenues and group impacts for the Metropolis. The addition of the undertaking’s world-class on line casino leisure resort facilities within the Metropolis’s Scott’s Addition leisure district will add to the essential mass of nice cultural, sports activities, eating and leisure choices within the space, draw new guests from all through the Area and improve the Metropolis’s conference and tourism efforts.
The Cordish Corporations is without doubt one of the largest, most revered developer-operators of upscale mixed-use, leisure and on line casino resort locations in the US. Its Stay! model is without doubt one of the most acknowledged and established on line casino and leisure manufacturers within the nation. Cordish has an unparalleled observe document of efficiently designing, financing, constructing and working on line casino leisure resort locations together with having developed three of probably the most profitable casinos ever in the US – Stay! On line casino & Lodge Maryland, Arduous Rock Lodge & On line casino Hollywood, FL and Arduous Rock Lodge & On line casino Tampa, FL. Cordish just lately opened two flagship properties in Pennsylvania – Stay! On line casino Pittsburgh and Stay! On line casino & Lodge Philadelphia.
“We thank the Metropolis of Richmond for persevering with to acknowledge the energy of our proposal and its general advantages to the Metropolis, its residents and guests,” mentioned Zed Smith, Chief Working Officer of The Cordish Corporations. “We’re excited by the help we’re receiving from residents, companies and civic organizations all through the Metropolis who imagine it’s a no brainer to focus the undertaking in a district identified for nice eating and leisure and simply accessible to the inhabitants base from each I-64 and I-95. No gaming or improvement firm within the nation has our confirmed observe document of constructing and working the best high quality locations over many many years. Each dedication, program and aim contained in our proposal has been efficiently achieved repeatedly by us in different cities within the nation and we pledge to deliver the identical excellence, high-quality requirements and community-focused method to Richmond. We’re assured Stay! Richmond can be as profitable as our different market main initiatives all through the U.S.”
The Cordish proposal will generate probably the most jobs and financial advantages to the Metropolis, together with 8,000 new jobs for native staff – 5,000 new building jobs and three,000 new everlasting jobs – with the best proposed employee compensation package deal averaging $60,000 in wages and advantages. No hourly worker will earn lower than $15 an hour. The undertaking will generate in extra of $7.5 billion in general financial influence advantages, $1.5 billion in tax income and over $200 million in incremental group profit funds to the Metropolis over the primary 15 years of the undertaking. These funds will assist fund essential group companies resembling infrastructure, training, healthcare, parks & recreation, workforce improvement and inexpensive housing. The proposed resort on line casino’s central location in Scott’s Addition is predicted to deliver tens of millions of recent guests to the area, bolstering the Metropolis’s present sights and companies and supporting conference and tourism efforts.
Additional, Stay! On line casino & Lodge Richmond has dedicated to 50% possession within the undertaking by native and minority traders, together with Professional Soccer Corridor of Famers Bruce Smith, Emmitt Smith III, former NFL star and native resident Billy McMullen, and different distinguished enterprise house owners and former skilled athletes. Stay!’s funding from Minority contributors totals $180 million, greater than two and a half instances the overall fairness funding of the remaining competitor.
The $600 million on line casino leisure resort proposed by Stay! options world-class facilities together with a 300-room luxurious lodge with a resort pool, spa and wellness middle, a first-class on line casino with 2,000 state-of-the-art slots and digital desk video games and 120 stay motion desk video games, a Sportsbook, Occasion Heart designed for leisure, conferences, conventions and social gatherings, a pageant garden for group occasions and out of doors leisure, and 18 eating and leisure choices. The undertaking, positioned in an space of Scott’s Addition already zoned and designated by the Metropolis in its Richmond 300 Grasp Plan for top density mixed-use leisure improvement, will facilitate the Metropolis’s imaginative and prescient for the realm, creating an leisure and hospitality vacation spot that can improve the neighborhood, proceed to supply first-class facilities for the local people, generate spin-off financial improvement, present 1000’s of jobs for space residents, and substantial alternatives for native, minority, women-owned, and veteran-owned companies.
Rendering information might be downloaded here.
To be taught extra in regards to the proposed imaginative and prescient for Stay! On line casino & Lodge Richmond, go to RichmondLive.com.
About The Cordish Corporations
The Cordish Corporations’ origins date again to 1910 and embody 4 generations of privately-held, household possession. In the course of the previous ten many years, The Cordish Corporations has grown into a worldwide chief in Gaming; Business Actual Property; Leisure Districts; Sports activities-Anchored Developments; Resorts; Residential Properties; Eating places; Coworking Areas; and Personal Fairness. One of many largest and most revered builders on this planet, The Cordish Corporations has been awarded an unprecedented seven City Land Institute Awards for Excellence for public-private developments which are of distinctive significance to the cities during which they’re positioned. The Cordish Corporations has developed and operates extremely acclaimed eating, leisure and hospitality locations all through the US, many falling below The Cordish Corporations’ Stay! Model, extremely considered one of many premier leisure manufacturers within the nation. Welcoming over 55 million guests per 12 months, these developments are among the many highest profile eating, leisure, gaming, lodge and sports-anchored locations within the nation. In gaming, The Cordish Corporations has developed among the many most profitable on line casino lodge resorts on this planet together with the Arduous Rock Lodge & On line casino Hollywood, FL. Arduous Rock Lodge & On line casino Tampa, FL, and Stay! On line casino & Lodge Maryland. The Firm just lately opened the extremely acclaimed Stay! On line casino & Lodge Philadelphia, within the Philadelphia Stadium District, and Stay! On line casino Pittsburgh. Over the generations, The Cordish Corporations has remained true to the household’s core values of high quality, entrepreneurial spirit, long-term private relationships, and integrity. As an affidavit to the long-term imaginative and prescient of its household management, The Cordish Corporations nonetheless owns and manages just about each enterprise it has created. For extra info go to www.cordish.com or observe us on Twitter.
“The Cordish Corporations,” “The Cordish Firm” and “Cordish” are logos used below license by unbiased companies, authorized legal responsibility corporations and partnerships (“Cordish Entities”). Every Cordish Entity is a separate, single-purpose authorized entity that’s solely answerable for its obligations and liabilities. No frequent operations or monetary interdependency, and no intermingling of property or liabilities of the Cordish Entities exists, or must be deemed to exist, because of the potential frequent reference to a number of unbiased entities working below the names “Cordish,” “The Cordish Corporations” or “The Cordish Firm” right here or elsewhere.
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