The political action committee for the developers of a proposed $562 million South Richmond casino said Tuesday that it accepted defeat after voters for a second time failed to support plans for the entertainment and gaming complex.
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The developers of a proposed resort casino in Virginia’s capital city have conceded a loss in their second shot at winning voters’ approval for the project. A referendum on whether
In reality, the money at stake supersedes all else. This business is so profitable that there are no tax incentives attached to the project, or other government subsidies, which means there are no real clawback mechanisms if the casino developers fail to deliver what’s been promised. It boils down to a simple question: Is it worth the risk?
Opponents of the Richmond Grand Casino & Resort met with the Times-Dispatch Editorial Board to discuss their case against the proposed project that is set to be voted on for a second time.