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Washington DC & Mid-Atlantic  + DC  + Hospitality  |  April 17, 2024
Emily Fu
By: Emily Fu

Bruce Smith, Cordish to Build $1.4B Entertainment District in Petersburg 

Virginia Beach-based 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. Bruce Smith Enterprise, a commercial real estate firm specializing in the development of mixed-use projects, was founded by Pro Football Hall of Famer Bruce Smith.

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. 

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About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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