BRUCE SMITH ENTERPRISE AND THE CORDISH COMPANIES BREAK GROUND ON NEW LIVE! CASINO & HOTEL IN PETERSBURG, VIRGINIA

Construction Commences on First Phase of $1.4 Billion Transformative Mixed-Use Resort Destination that Promises to Generate Billions in Economic Benefits and Create Thousands of Jobs

Temporary Gaming Facility will Open by the End of 2025 to Immediately Begin Creating Jobs, Vendor Opportunities and Economic Benefits for the City

Local Vendor and Supplier Fair to Take Place on April 9^th from 10am-2pm at the Petersburg Public Library

PETERSBURG, Va., March 19, 2025 /PRNewswire/ -- Bruce Smith Enterprise and The Cordish Companies today celebrated the groundbreaking of the new LIVE! CASINO & HOTEL VIRGINIA in Petersburg. Today's milestone officially commences construction on a transformative project that will generate billions of dollars in economic benefits and spinoff development, create thousands of new jobs, and set a new standard for gaming, hotels, and entertainment in the Commonwealth. Live! Casino & Hotel Virginia is part of a larger $1.4 billion master plan by the partnership, scheduled to be developed in phases, that will bring a world-class mixed-use resort destination to Petersburg.

Rendering files can be downloaded here.

Executives from Bruce Smith Enterprise, The Cordish Companies, and Cordish Gaming were joined by Petersburg City Mayor Sam Parham and members of Petersburg City Council, Virginia State Senator Lashrecse Aird, Virginia State Delegate Kim Taylor, and many other business and community leaders at the project site in Petersburg. The development site, ideally located on Brasfield Parkway at the intersection of Wagner Road and Interstate I-95 just 20 miles south of Richmond, will provide easy access on and off the East Coast's major north-south interstate.

"It has been a source of immense satisfaction and pride to partner in this incredible development," said Bruce Smith, founder Bruce Smith Enterprise. "For far too long people have simply driven by the City of Petersburg, but today marks the beginning of a new era in which Petersburg will become a prime destination. This pivotal project will ignite tourism, create jobs, and ultimately deliver on the promise of greater opportunity and upward mobility for local families.  As a champion of Petersburg and its residents, I am happily confident that this historic development will uplift, empower, and enrich this community for years to come."

Live! Casino & Hotel Virginia is slated to open in 2027. A temporary gaming facility will open by the end of 2025 to immediately begin creating an estimated 500 new jobs, vendor opportunities and economic benefits for the City. In its first 10 years, the project is expected to generate $2.8 billion in economic stimulus to the region; $504 million in tax revenues including $240 million to the City of Petersburg; $802 million in economic benefits during construction; $201 million in annual economic benefits each year after opening; and 7,500 new jobs including 6,100 during construction and 1,400 new permanent jobs.

Upon completion in 2027, the world-class Live! Casino & Hotel destination will feature:

• More than 450,000 square feet of first-class gaming, hotel and dining space
• 75,000 square feet of meeting, convention and entertainment space including a 4,000 seat state-of-the-art venue for concerts and special events from top talent from across Virginia and the greater region
• An upscale 200-room hotel featuring 20 suites, resort pool and fitness center
• 1,600 state-of-the-art slot machines
• 65 live action table games, including a 22-table poker room
• High limit slot and table areas
• Sportsbook
• 10 best-in-class food and entertainment options, including local partners
• Free parking

The temporary facility, scheduled to open by the end of this year, will include approximately:

• 75,000 square feet of gaming space
• 900 state-of-the-art slots
• 33 live action table games
• Casino bar and quick service restaurant
• 1,000 free parking spots

"Today marks a monumental day for The Cordish Companies as we expand our Live! brand into the Central Virginia region with the development of Live! Casino & Hotel Virginia," said Zed Smith, Chief Operating Officer for The Cordish Companies. "Our company is a national leader in successfully developing and managing large-scale urban revitalization projects across the country. Live! Casino & Hotel will be a transformative development that will bring a world-class gaming and entertainment experience to millions of visitors, create significant new jobs, and generate millions of dollars in economic benefits for the community that will provide a beneficial impact for generations. We look forward to making an immediate impact on the region with the construction of a temporary gaming facility that will be operational before the end of 2025, so that we can begin creating jobs, vendor opportunities and economic benefits for the City."

CAREER OPPORTUNITIES
Live! is an economic engine in communities where its properties are located and places a high priority on hiring local residents. Bruce Smith Enterprise and The Cordish Companies are committed to making the same impact with the creation of 1,400 new living-wage jobs averaging $70,000 in annual compensation with life enhancing benefits and career mobility.

Job opportunities will be available in every field, including gaming and hotel operations, finance, marketing, human resources, information technologies, food and beverage, facilities, security and surveillance, and more. Live! will partner with local educational institutions to provide training programs for jobs within the complex, including gaming and hospitality positions. The partnership is committed to creating a diverse and inclusive workforce. Local residents will have ample opportunities to learn about jobs at Live! Casino & Hotel Virginia through programs such as:

• Pre-opening community-based job fairs
• Local job placement workshops
• Online job postings, job matching and customized recruitment services
• Contractor mentoring and apprenticeships
• Community-based information sessions on job opportunities and training programs
• Community College and University partnerships for job placement

For more information, please visit https://valive.casino/.

VENDOR OPPORTUNITIES
Live! Casino & Hotel Virginia will purchase tens of millions of dollars in goods and services in the region. As recognized leaders in community outreach with unparalleled track records of supporting local and regional businesses, Live! is committed to utilizing and supporting local, regional, minority, women-owned, and veteran-owned businesses by providing them access to contract opportunities. Our procurement team will maintain an internal database of diverse contractors and suppliers that will be used for future bid opportunities. The following are some of the categories of goods and services to be purchased:

• Gaming Operations
• Hotel Operations
• Furniture, Fixtures and Equipment
• Engineering, Facilities and Maintenance
• Food and Beverage
• Office and Computer Supplies
• Professional Services

A Local Contractor and Supplier Fair will take place on April 9^th from 10 AM to 2 PM at the Petersburg Public Library for local businesses and contractors to learn more about the project. Registration is not required to attend.

COMMUNITY ENGAGEMENT, INVOLVEMENT & BENEFITS
Live! will serve as a transformative development, creating maximum community benefits for the City of Petersburg and its residents. The Cordish Companies and Bruce Smith Enterprise have long embraced a strong approach to community integration and involvement. The partners are committed to supporting non-profit organizations in Petersburg, acting as conveners to assist community organizations and non-profits in their fundraising efforts and volunteerism, an endemic value to their cultures. The Cordish Companies and Bruce Smith are consistently named among the largest supporters of non-profits and philanthropic organizations in markets where they do business and recognized as valued community partners. 

Live! Casino & Hotel Virginia will be developed, owned, and managed by Petersburg Community Development Investors, LLC and its affiliates. Authorization of a casino in Petersburg is subject to licensing by applicable Commonwealth agencies including the Virginia Lottery.

More details will be shared in the coming months. New information will be posted to the website as available at https://valive.casino/.

About The Cordish Companies
The Cordish Companies' origins date back to 1910 and encompass four generations of privately held, family ownership. During the past ten decades, The Cordish Companies has grown into a global leader in Gaming & Entertainment; Commercial Real Estate; Entertainment Districts; Sports-Anchored Developments; Hotels; Residential Properties; Restaurants; Coworking Spaces; and Private Equity. One of the largest and most respected developers in the world, The Cordish Companies has been awarded an unprecedented seven Urban Land Institute Awards for Excellence for public-private developments that are of unique significance to the cities in which they are located. The Cordish Companies has developed and operates highly acclaimed dining, entertainment and hospitality destinations throughout the United States, many falling under The Cordish Companies' Live! Brand, highly regarded as one of the premier entertainment brands in the country. Welcoming over 60 million visitors per year, these developments are among the highest profile dining, entertainment, gaming, hotel and sports-anchored destinations in the country. In gaming, The Cordish Companies has developed among the most successful casino hotel resorts in the world, including the Hard Rock Hotels & Casinos in Hollywood and Tampa, FL, Live! Casino & Hotel Maryland, Live! Casino Pittsburgh and Live! Casino & Hotel Philadelphia. Over the generations, The Cordish Companies has remained true to the family's core values of quality, entrepreneurial spirit, long-term personal relationships and integrity. As a testimony to the long-term vision of its family leadership, The Cordish Companies still owns and manages virtually every business it has created. For more information, visit www.cordish.com or follow us on X (@cordishco).

"The Cordish Companies," "The Cordish Company" and "Cordish" are trademarks used under license by independent corporations, legal liability companies and partnerships ("Cordish Entities"). Each Cordish Entity is a separate, single-purpose legal entity that is solely responsible for its obligations and liabilities. No common operations or financial interdependency, and no intermingling of assets or liabilities of the Cordish Entities exists, or should be deemed to exist, as a result of the potential common reference to multiple independent entities operating under the names "Cordish," "The Cordish Companies" or "The Cordish Company" here or elsewhere. 

About Live! Casinos & Hotels
Live! Casinos & Hotels set a new standard in best-in-class customer experiences with highly-acclaimed resort, casino and entertainment destinations throughout the Mid-Atlantic region. Live! delivers a renowned blend of world-class accommodations and amenities, award-winning dining, casino gaming action, and headline entertainment, all in an exciting, spontaneous atmosphere that has become synonymous with the Live! Brand nationwide. Strategic national partnerships bring unique promotions and sports engagement opportunities to all Live! Properties. With a commitment to impeccable customer service and treating guests like part of the family, Live! Properties attract millions of visitors per year seeking unique experiences with gaming, dining and entertainment, all in one location. The portfolio includes Live! Casino & Hotel Maryland – located in the Washington, DC/Baltimore corridor; Live! Casino & Hotel Philadelphia – located in the heart of the South Philadelphia Stadium District; Live! Casino Pittsburgh – located in Westmoreland County, PA; Live! Casino & Hotel Louisiana - located in Bossier City, LA, near Dallas; and PlayLive.com – the company's branded Internet gambling business in the Commonwealth of Pennsylvania. Coming soon – Live! Casino & Hotel Virginia (Petersburg). Live! Casinos & Hotels are owned and operated by Cordish Gaming Group, a division of the world-renowned developers The Cordish Companies. For more information, visit https://visitlive.com/casinos.

About Bruce Smith Enterprise
Bruce Smith Enterprise, led by legendary Pro Football Hall of Fame member and Virginia native Bruce Smith, is a commercial real estate firm that specializes in the development of premier mixed-use projects. Headquartered in Virginia Beach, VA, the company has developed notable properties throughout the state and the Mid-Atlantic region that feature the cohesive and seamless integration of residential, hotel, Class A office, and retail space. Since retiring from professional football in 2004 after a prolific 19-year career, the NFL's All-Time Sack Leader has endeavored to bring the same level of unparalleled excellence, diligence, and leadership that he honed as a veteran on the field to the management of Bruce Smith Enterprise. The successful development of timeless mixed-use properties that survive and withstand trends of the marketplace, strengthen, and invigorate the local economy and create jobs are core values of Bruce Smith Enterprise's primary mission.

SOURCE The Cordish Companies