Author Topic: Casino coming to Jax?  (Read 6009 times)

jaxlongtimer

  • Hero Member
  • *****
  • Posts: 1357
Re: Casino coming to Jax?
« Reply #60 on: September 17, 2021, 11:05:08 PM »
^ Interestingly, it looks like Virginia may also be adding casinos in Richmond, Portsmouth, Bristol and Norfolk.  Here was the state's criteria for locating them: 
Quote
HB4 legalized the state for five casinos in cities that met strict criteria. Among them cities had to have a poverty rate of 20% or higher, unemployment rates of 4% or higher, a population that has decreased by 20% or more in the past year and 40% of the city real estate is exempt from tax.

https://augustafreepress.com/five-virginia-localities-to-move-on-with-casino-projects/

Our ex-Lot J "friends," the Cordish Companies, were competing in Richmond.  Not only do they operate Live! venues but also quite a few casinos. 

An excerpt from March 25th in Richmond is below to give a flavor of what we might see here someday.  Subsequently, it looks like the Urban One proposal won out but it's subject to Richmond voters approving of a casino in their town via a referendum vote in November.

Quote
With Wednesday’s news, the three remaining casino proposals are:

Bally’s $650 million, 1.6 million-square-foot casino with sportsbook, performance space, a hotel and dining and retail outlets on a 61-acre parcel of land south of the James River near the city’s western border, which also includes a $100 million one-time payment to the city. Former NFL linebacker Willie Lanier, a Richmond resident, and Reston entrepreneur Warren Thompson, the founder, president and chairman of Thompson Hospitality Corp., are also involved in the project.

Urban One’s $517 million ONE casino. Urban One owns and operates 55 radio stations and the TV One cable network, and it has paired with Peninsula Pacific Entertainment, Colonial Downs Group’s owner and the Rosie’s Gaming Emporium franchise owner. This project, including a sportsbook, 150 hotel rooms, a 3,000-seat theater, 90,000 square feet of gaming space, and 12 bars and restaurants, would be built on 100 acres owned by Altria Group Inc. on Richmond’s South Side, a largely industrial area.

Baltimore-based The Cordish Cos., which owns casinos in Baltimore, Philadelphia, Pittsburgh and Florida, proposed the $600 million Live! Casino & Hotel Richmond resort on Richmond’s North Side, near The Diamond baseball stadium on the current Movieland theater property. The resort would include a hotel with 300 rooms and 30 suites, a 4,000-seat entertainment venue and 250,000 square feet of gaming space.

Urban One CEO Alfred Liggins released this statement Wednesday night: “ONE is honored and excited to be selected as one of three finalists to develop a resort casino project in the city of Richmond. We are convinced our selection is based on having the absolute best location in an industrial area off Interstate 95 in South Richmond; having the most diverse group of more than 50 investors providing opportunity for minority ownership and wealth-building in the Richmond community; and offering the most robust amenities, including 50 acres of green space for Richmond to enjoy, a music venue and a first-class casino and hotel.”

Bally’s President and CEO George Papanier said in a statement Wednesday night, “The Bally’s Richmond is truly a Richmond-first project, dedicated to supporting local businesses and minority organizations by driving job creation and developing sustained economic opportunities. We are confident that our proposal will provide incomparable economic benefits to the greater Richmond community, and we look forward to continuing our dialogue to prove to the city and its various stakeholders that Bally’s is for RVA.”

And Zed Smith, chief operating officer of The Cordish Cos., said in a statement Wednesday, “Live! Casino & Hotel Richmond will maximize jobs, tax revenues and community impacts for the city. The project will generate over $7.5 billion in overall economic benefits, $1.5 billion in tax revenue and over $200 million in incremental community benefit payments to the city over the first 15 years of the project. These payments will help fund critical community services such as infrastructure, education, healthcare, parks & recreation, workforce development and affordable housing.”

https://www.virginiabusiness.com/article/richmond-rejects-pamunkey-casino-proposal-tribe-says/
« Last Edit: September 17, 2021, 11:06:53 PM by jaxlongtimer »

jaxoNOLE

  • Full Member
  • ***
  • Posts: 169
Re: Casino coming to Jax?
« Reply #61 on: September 18, 2021, 12:47:03 AM »
Um...a development like that at Regency would indeed be phenomenal. I know SJTC is close by, but it still surprises me that we have so many retail vacancies (both in the mall and surrounding retail centers) as the residential population is exploding along with property values.

BridgeTroll

  • Global Moderator
  • Hero Member
  • *****
  • Posts: 14053
  • The average person thinks he isnt
    • London Bridge Pub
Re: Casino coming to Jax?
« Reply #62 on: September 18, 2021, 07:31:20 AM »
Would look great on Lennys lawn or the empty lot at elbow. Rather that than USS Rustbucket... err Orleck.
In a boat at sea one of the men began to bore a hole in the bottom of the boat. On being remonstrating with, he answered, "I am only boring under my own seat." "Yes," said his companions, "but when the sea rushes in we shall all be drowned with you."

acme54321

  • Hero Member
  • *****
  • Posts: 2705
Re: Casino coming to Jax?
« Reply #63 on: September 18, 2021, 08:29:41 AM »
Would look great on Lennys lawn or the empty lot at elbow. Rather that than USS Rustbucket... err Orleck.

THAT SHIT IS GOING TO BE A GAME CHANGER!

*Ship

jaxlongtimer

  • Hero Member
  • *****
  • Posts: 1357
Re: Casino coming to Jax?
« Reply #64 on: September 18, 2021, 10:06:17 PM »
^ Their funding mechanism looks questionable from a financial sustainability standpoint.  Where are all the donations from supporters and the general public that want this here?  Already starting with substantial debt.
Quote
To fund the only U.S. Naval warship museum in Florida, the group has $2.5 million: $1 million from the state of Florida and another $1.5 million from loans and creditors.

https://www.news4jax.com/news/local/2021/09/18/organizers-gearing-up-as-jacksonville-naval-museum-moves-closer-to-reality/

And then there is this contingency:
Quote
....now the next big step is getting her to dry dock in Texas and inspecting her, make sure she’s good to go for the next 10 years as a museum ship,” said Weakland. “The Orleck is a historic bold ship for the Bold City.”

The Orleck museum ship will be dry-docked at Port Arthur, Texas, where its hull will be inspected to make sure it can make the trip to Florida and continue to serve as a museum ship. According to a news release, the drydocking of the ship is planned for Nov. 1.

Bless those supporting this but one has to continue to wonder how feasible it is over the long haul.  Have they disclosed their budget for bringing it here, creating the museum and then operating the ship with museum?  How enthused are those military groups they are counting on to make ends meet?
« Last Edit: September 18, 2021, 10:55:28 PM by jaxlongtimer »

BridgeTroll

  • Global Moderator
  • Hero Member
  • *****
  • Posts: 14053
  • The average person thinks he isnt
    • London Bridge Pub
Re: Casino coming to Jax?
« Reply #65 on: September 19, 2021, 08:28:41 AM »
There are newer more pertinent ships appropriate for Jacksonville. A Cold War workhorse actually stationed at Mayport was the OHP class frigate...

https://en.m.wikipedia.org/wiki/Oliver_Hazard_Perry-class_frigate
In a boat at sea one of the men began to bore a hole in the bottom of the boat. On being remonstrating with, he answered, "I am only boring under my own seat." "Yes," said his companions, "but when the sea rushes in we shall all be drowned with you."