Live! Casino & Hotel Virginia reached a major construction milestone on Thursday, October 8, as developers completed the highest structural point of its 12-story hotel tower. State and local officials joined The Cordish Companies and Bruce Smith Enterprise to mark the occasion.

The $600 million development in Petersburg is being led by Baltimore-based The Cordish Companies, which already operates casinos in Maryland and Pennsylvania. Partnering with NFL Hall of Famer and Virginia native Bruce Smith, the company is investing in Central Virginia with the goal of establishing Petersburg as a major regional destination. The city is located approximately 25 minutes south of Richmond and 45 minutes north of the North Carolina border.

“No longer will people be driving past Petersburg. They will be making plans to come to Petersburg,” Smith said, according to the Richmond Times-Dispatch. “We’re not going to let you down.”

“The topping out of Live! Casino & Hotel Virginia is a defining moment for this project and a significant milestone in the continued expansion of the Live! brand nationwide,” David Cordish, chairman and CEO of The Cordish Companies, said in comments to Casino.org.

The developers confirmed that construction remains on schedule, with the permanent resort expected to open in late 2027. The complex is being built near Interstate 95 at Wagner Road.

Temporary Petersburg Casino Surpasses $100 Million

Since late January 2026, Cordish and Smith have operated a temporary casino inside a pavilion tent in Petersburg. The interim facility features 926 slot machines and 32 live-dealer table games.

The temporary casino generated $14.2 million in gross gaming revenue (GGR) in August, taking its cumulative casino winnings for the year beyond $100 million.

The permanent resort will substantially expand the gaming offering, with more than 1,600 slot machines, 70 table games, a 35-table poker room, and a dedicated sportsbook.

Developers estimate that Live! Casino & Hotel Virginia could generate $2.8 billion in regional economic activity and $504 million in total tax revenue during its first decade of operation. Of that projected tax revenue, $240 million would go to the City of Petersburg.

The resort is also expected to create 1,600 permanent jobs, with average annual compensation of approximately $70,000—significantly above the city’s per capita income.

“We look forward to delivering a project that will generate new jobs, attract significant tourism, drive economic opportunity, and serve as a catalyst for the region for decades to come,” Cordish added.

Resort Features and Future Development Plans

          The permanent resort will cover approximately 445,000 square feet and include a range of hospitality, entertainment, and gaming facilities.

Planned amenities include:

• Hotel: A 200-room upscale hotel tower.

• Leisure facilities: A resort-style swimming pool, spa, and fitness center.

• Dining and drinks: 20 restaurant and beverage concepts.

• Events: A 70,000-square-foot multipurpose event venue.

• Gaming: More than 1,600 slot machines, 70 table games, a dedicated poker room, and a sportsbook.

The casino resort represents the first stage of a broader development plan for the site. After the property opens, the developers intend to invest an additional $800 million in a mixed-use expansion.

The proposed second phase would introduce residential housing, office buildings, retail shops, a grocery store, and public parkland, extending the project beyond gambling and hospitality into a larger commercial and residential district.

If completed as planned, the development would represent a substantial investment in Petersburg’s tourism infrastructure, employment market, and long-term economic growth.