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Hospitality | Tourism

Amin

NEIL P. AMIN

CEO, SHAMIN HOTELS, RICHMOND

The past year has been a bit of a mixed bag for Amin and Shamin Hotels, one of the United States’ largest independent hoteliers.

Shamin, which owns more than 60 hotels, saw its Hilton Richmond Hotel and Spa in Short Pump enter receivership in January after falling behind on loan payments amid the pandemic.

That said, Shamin completed renovations on The Landing at Hampton Marina this year, and the company purchased a Hampton Inn & Suites in Newport News along with three Virginia Beach hotels. Amin is also one of 50 investors in Richmond’s proposed ONE Casino + Resort.

In July, Amin was tapped as one of the state’s five cannabis regulatory board members.

Amin earned his bachelor’s and MBA degrees from the Wharton School of the University of Pennsylvania before joining Shamin as chief financial officer in 2002. He was named CEO in 2008.

BEST ADVICE FOR OTHERS: Don’t ask others to do anything that you would not do yourself.

NEW LIFE EXPERIENCE: Climbing Grays Peak (14,278 feet) and Torreys Peak (14,267 feet) in Colorado this past July

 


 

Baltimore

THOMAS J. BALTIMORE JR.

CHAIRMAN, PRESIDENT AND CEO, PARK HOTELS & RESORTS INC., TYSONS

A lodging real estate investment trust, Park Hotels has a portfolio with 57 hotels and resorts, offering more than 32,000 rooms.

While weathering the pandemic, Park temporarily closed some hotels. Properties that remained open saw a sharp drop in reservations. For 2020, the company reported $852 million in revenue, a 70% decrease from 2019.

That said, Baltimore, who has led Park since 2016, when he joined the company shortly before its spinoff from Hilton, believes the storm may be passing.

“I continue to be extremely encouraged by our portfolio’s performance over the past several months,” he said in a June statement. “Leisure demand trends continue to accelerate at a faster pace than we had initially anticipated.”

From April through December 2020, Baltimore waived his base salary, contributing $500,000 to a $2.5 million fund to address hardship among employees. Even so, he received $12.66 million in total compensation for the year, about a 54% increase over what he received in 2019.

Baltimore earned his bachelor’s degree and MBA from the University of Virginia. He’s a member of the board of directors of American Express Co. and Prudential Financial Inc.

 


 

Bowman

LESLIE GREENE BOWMAN

PRESIDENT, THOMAS JEFFERSON FOUNDATION, CHARLOTTESVILLE

Since 2008, Bowman has led the Thomas Jefferson Foundation, which owns and operates Monticello, the Albemarle County estate of America’s third president.

It’s a high-profile job. In 2013, Bowman sat next to musician Dave Matthews as he prepared to speak at Monticello’s annual Independence Day Celebration and Naturalization Ceremony. A year later, she walked with President Barack Obama and French President François Hollande as they toured the historic site.

For all her time in the public eye, Bowman is, at heart, an academic. After earning her bachelor’s in American history and art history at Miami University, Bowman received a master’s degree in early American culture as a Winterthur Fellow at the University of Delaware.

Throughout Bowman’s tenure at Monticello, she’s worked to create educational programming that showcases the “honest, inclusive” history of the free and enslaved people who lived at the historic mountaintop home.

“In Jefferson’s words, we ‘follow truth wherever it may lead,’” Bowman said in a statement about Monticello creating an exhibit space dedicated to Sally Hemings, the enslaved woman who bore at least six of Jefferson’s children.

 


 

Bradburn

DOUG BRADBURN

PRESIDENT AND CEO, GEORGE WASHINGTON’S MOUNT VERNON, MOUNT VERNON

It’s an exclusive club. Just 11 individuals have served as the leader at George Washington’s Mount Vernon since 1858, when the Mount Vernon Ladies’ Association purchased the estate from Washington’s heirs.

A noted scholar of American history, Bradburn came to Mount Vernon in 2013 to serve as the founding director of the Fred W. Smith National Library for the Study of George Washington. He is the author and editor of three books and numerous articles on topics such as the history of the American founding and leadership.

Only a few months after Bradburn joined Mount Vernon, he inadvertently found himself at the center of a minor controversy when Politico reported that President Donald Trump had suggested to Bradburn during a 2018 tour of Mount Vernon that it would have been smarter for Washington to name the home after himself. The Mount Vernon Ladies’ Association criticized the story as inaccurate and lacking context.

Bradburn graduated with degrees in history and economics from the University of Virginia before earning his doctorate in history from The University of Chicago.

 


 

Carroll

JAMES CARROLL

PRESIDENT AND CEO, CRESTLINE HOTELS & RESORTS LLC, FAIRFAX

Carroll has led Crestline Hotels & Resorts LLC for more than a decade. He first arrived at the third-party hospitality management company in 2004 as its treasurer and later was named chief financial officer and then chief operating officer.

An indirect subsidiary of the Barceló Group based in Mallorca, Spain, Crestline manages 125 hotels — properties with brands such as Marriott, Hilton and Hyatt, as well as independent hotels. The company employs more than 5,000 associates, about 600 of whom are in Virginia.

While it was a grim year for the hotel industry overall, Crestline expanded its portfolio of managed hotels by 10% during the pandemic.

Previously, Carroll worked at Dell Technologies Inc., where he held several operations and financial management positions, and served as a naval aviator and lieutenant commander in the U.S. Navy.

He earned a bachelor’s degree in systems engineering from the U.S. Naval Academy and an MBA from the Harvard Business School.

Carroll sits on the board of directors for Armada Hoffler Properties Inc. in Virginia Beach and ServiceSource, a nonprofit providing support services to people with disabilities.

BEST ADVICE FOR OTHERS: Take care of your team.

 


 

Christner

KIMBERLY L. CHRISTNER

PRESIDENT AND CEO, CORNERSTONE HOSPITALITY LLC, WILLIAMSBURG

Although Cornerstone Hospitality manages branded hotels, the company is probably best known for its work developing distinctive boutique hotels designed with décor reflecting the history and culture of the regions where the properties are located.

Partnering with Craig Larson, Christner formed Cornerstone Hospitality in 2012. Today, the company owns and manages 18 hotels and
15 food and beverage outlets and banquet venues. Additionally, the company conducts market research for individuals or town leaders considering boutique hotel opportunities.

A year after launching, Cornerstone Hospitality teamed up with Virginia-based MB Contractors and Architectural Partners to form a partnership called Creative Boutique Hotels LLC.

Focusing on developing boutique hotels in historic buildings in small markets, the partnership produced the Craddock Terry Hotels and Event Center in Lynchburg, the Western Front Hotel in Saint Paul and the Sessions Hotel in Bristol.

Previously, Christner worked for Williamsburg-based Beck Co. for almost two decades, including five years as CEO.

She received her bachelor’s in business administration from Saint Leo University in Florida and has earned several certifications from the School of Hotel Administration at Cornell.

 


 

Coleman

CHRISTY S. COLEMAN

EXECUTIVE DIRECTOR, JAMESTOWN-YORKTOWN FOUNDATION, WILLIAMSBURG

The pandemic hit a couple of months after Coleman came aboard as executive director of the Jamestown-Yorktown Foundation. The foundation’s two living-history museums, Jamestown Settlement and the American Revolution Museum at Yorktown, were forced to close for 15 weeks.

Since visitors couldn’t experience history in person, Coleman and her staff hustled to create virtual experiences, ranging from a tutorial on how to make Powhatan-style twined baskets to streaming video from a dugout canoe.

Coleman also maintains a lively presence on Twitter (@HistoryGonWrong), where she fangirls over popular culture and discusses the importance of looking at history through multiple perspectives.

In 2018, Time magazine listed her among 31 people “who are changing the South.”

Coleman was formerly president and CEO of the American Civil War Museum in Richmond. She also worked for the Colonial Williamsburg Foundation, where she was director of historic programs. While there, she led an effort to stage a reenactment of a slave auction that drew national attention.

A native of Williamsburg, Coleman earned her bachelor’s and master’s degrees in museum studies from Hampton University.

 


 

Fleet

CLIFF FLEET

PRESIDENT AND CEO, COLONIAL WILLIAMSBURG FOUNDATION, WILLIAMSBURG

Although the pandemic caused the nation’s largest outdoor living-history museum to close for three months, Fleet stayed plenty busy. In 2020, the foundation significantly expanded its digital footprint while raising $62 million in donations.

In September 2020, Fleet watched as Colonial Williamsburg archaeologists excavated the site of the old First Baptist Church, one of America’s oldest churches founded by Black people. In February 2021, the foundation announced a partnership with William & Mary to relocate the Williamsburg Bray School, an 18th-century institution that educated enslaved and free Black children, from W&M’s campus to Colonial Williamsburg’s Historic Area.

A William & Mary alum who holds a bachelor’s degree in history and religion and graduate degrees in history, business administration and law from the school, Fleet joined the Colonial Williamsburg Foundation in early 2020.

He previously was president and CEO of Richmond-based tobacco manufacturer Philip Morris USA and held leadership positions at its Fortune 500 parent company, Henrico County-based Altria Group Inc.

Fleet is a member of the board of trustees of the William & Mary Foundation and was appointed by Gov. Ralph Northam to sit on the American Revolution 250 Commission.

 


 

George

MICHAEL GEORGE

FOUNDER, PRESIDENT AND CEO, CRESCENT HOTELS & RESORTS, FAIRFAX

In the two decades since George founded Crescent Hotels & Resorts, the business has grown to operate more than 100 hotels and resorts and more than 250 restaurants and bars in the U.S. and Canada. George’s clients include real estate investment trusts, private equity firms and major developers.

Crescent operates a collection of independent hotels under its own label, the Latitudes Collection, while also managing properties for the Marriott, IHG, Hyatt and Hilton brands.

One of the Hilton properties George manages made headlines in October when it changed its name from the Pointe Hilton Squaw Peak Resort to the Hilton Phoenix Resort at the Peak to avoid the offensive term for Native American women. “We wanted to consider the values and perspectives from our associates, guests and the community when determining what was most important in the name,” George said in a statement.

Prior to founding Crescent, George served as senior vice president of operations for Destination Hotels, as chief operating officer for Sunstone Hotel Investors Inc. and as senior vice president of operations for then-Interstate Hotels and Resorts.

 


 

Gray

ROBERT GRAY

CHIEF, PAMUNKEY INDIAN TRIBE, KING WILLIAM COUNTY

For more than a quarter century, Gray has sat on the Pamunkey Tribal Council. And in 2015, he was elected its chief.

Gray grew up in Philadelphia but moved to the Pamunkey Indian Reservation in King William County in 1988.

As a younger man, Gray served in the U.S. Air Force before earning his bachelor’s degree from the University of Central Arkansas. He later joined the Virginia Air National Guard and worked as a federal civilian employee for the U.S. Air Force.

Before retiring from the Air Force in 2011 as a chief master sergeant, Gray was deployed for multiple overseas tours. In 2017, he retired from the federal civilian service.

As chief of the Pamunkey Tribe, Gray frequently speaks about the HeadWaters Resort & Casino, the $500 million project that the tribe is developing with Tennessee billionaire Jon Yarbrough alongside Norfolk’s Harbor Park. The casino, set to open in 2023, is expected to generate about 2,000 construction jobs, 2,500 permanent jobs and $185 million in annual revenue, not to mention at least $3.5 million each year for the Virginia Indigenous People’s Trust Fund.

 


 

Knight

JUSTIN G. KNIGHT

CEO AND DIRECTOR, APPLE HOSPITALITY REIT INC., RICHMOND

Knight has spent his career working for Apple Hospitality REIT and the real estate investment trusts that preceded it, all founded by his father, Glade M. Knight. Since 2014, Justin Knight has served as CEO at Apple Hospitality.

Today, Apple Hospitality’s portfolio consists of 232 hotels, mostly properties under the Marriott, Hilton and Hyatt brands, across 35 states.

Facing the economic crisis caused by the pandemic, Knight volunteered to decrease his target compensation for 2020 by 60%.

In May, Knight reported that the REIT had sold three hotels since the beginning of the year for a combined total of $24 million.

Four years ago, Knight suffered serious injuries when the small plane he was piloting, with his son on board, crashed into a cornfield in Buckingham County.

A member of the National Advisory Council for Brigham Young University’s Marriott School of Business, Knight received his bachelor’s in political science and an MBA from the university.

Knight sits on the board of trustees for Venture Richmond.

 


 

McClenny

RITA McCLENNY

PRESIDENT AND CEO, VIRGINIA TOURISM CORP., RICHMOND

On June 15, McClenny addressed the Virginia Senate Finance and Appropriations Committee, asking lawmakers to dedicate $50 million of the $4.3 billion Virginia has received from the federal American Rescue Plan for state and local tourism efforts.

Under her plan, $20 million of that relief funding would be used by Virginia Tourism Corp. for marketing efforts, and $30 million would be divided by state localities to pay for tourism marketing expenses.

Virginia has lost $14.3 billion in travel expenditures due to the pandemic, according to McClenny.

The president and CEO of VTC since 2012, McClenny usually has happier news to share with lawmakers. In 2019, visitors to Virginia spent $27 billion, which contributed $1.8 billion in state and local taxes.

A state agency, VTC works to market the state as a premier travel destination and as a desirable location for shooting films and television shows.

Prior to heading up VTC, McClenny served as head of the Virginia Film Office for more than 20 years. A Southampton County native, she received her bachelor’s degree in economics from Fisk University in Nashville.

 


 

McGlothlin

JIM McGLOTHLIN

CHAIRMAN AND CEO, THE UNITED CO., BRISTOL

After a long career, this octogenarian sits on the cusp of delivering his boldest endeavor yet.

Partnering with high school friend and Par Ventures LLC President Clyde Stacy, along with Hard Rock International, McGlothlin plans to open the $400 million Hard Rock Hotel and Casino Bristol at the site of the old Bristol Mall in 2022.

McGlothlin and Stacy began lobbying for a casino in the birthplace of country music several years before the Virginia General Assembly passed legislation in 2000 allowing commercial casino gaming in Portsmouth, Danville, Norfolk, Richmond and Bristol — pending approval by local voters in referendums. In November 2020, 71% of Bristol voters said “yes” to the casino, which is expected to create about 2,000 jobs and $130 million in annual revenue.

If that weren’t enough, in April, McGlothlin opened the Car Barn, a new business that’s part classic car museum/part car lot.

In 2009, a Ukrainian company purchased United Coal, the company McGlothlin co-founded in the 1970s. Today, McGlothlin’s United Co. focuses on coal, oil and gas exploration services, investment management and real estate development, as well as the operation of golf courses and RV parks.

 


 

Nassetta

CHRISTOPHER J. NASSETTA

PRESIDENT AND CEO, HILTON WORLDWIDE HOLDINGS INC., McLEAN

COVID-19 dealt quite a blow to the hotel industry. An industry giant, Hilton didn’t escape unscathed.

The company closed 2020 with $4.3 billion in revenue — a steep drop from the $9.5 billion it reported in 2019. The drop was big enough for Hilton to fall off the Fortune 500, sliding from No. 338 to No. 596 on the magazine’s list of the top 1,000 U.S. companies by total revenue.

At the end of 2020, Hilton said it employed 141,000 people,  32,000 fewer than it reported in 2019. For the first quarter of 2021, Hilton announced a net loss of $109 million.

Nassetta, who has led the company since 2007, seems optimistic about its post-pandemic recovery. “We are on pace to see record leisure demand in the U.S. over the summer months,” he said during a May call to investors.

In 2020, Nassetta earned $55.87 million in total compensation.

A graduate of the University of Virginia, Nassetta previously served as CEO for Host Hotels & Resorts Inc. His first real job was unclogging toilets at a Washington, D.C., hotel.

 


 

Vinay

VINAY PATEL

FOUNDER AND PRESIDENT, FAIRBROOK HOTELS LLC, CHANTILLY

When he was 8 years old, Patel’s parents, originally from the Indian state of Gujarat, migrated from Malawi in eastern Africa to Richmond, where they bought a small motel.

Growing up, Patel pitched in at the family business, cleaning rooms and checking in guests. When it came time for college, Patel commuted to Virginia Commonwealth University and continued helping out at the motel.

By 2003, Patel took over the family business, which continues to grow. Today, Fairbrook Hotels owns 11 hotels in Virginia and Maryland.

In recent months, Patel has been interviewed by NPR and The New York Times, discussing how the pandemic impacted his business. While his properties ran at 80% occupancy before the pandemic, they now run at 40% to 60% occupancy, depending on the location.

In November 2020, then-U.S. Department of Commerce Secretary Wilbur Ross appointed Patel to the U.S. Travel and Tourism Advisory Board. Patel also serves as the vice chair of the Asian American Hotel Owners Association.

WHAT I’VE LEARNED: When you help others, you really help yourself.

FAVORITE SONG: “The Way It Is,” by Bruce Hornsby and the Range

BEST ADVICE FOR OTHERS: Appreciate everything and everyone.

 


 

Stacy

CLYDE STACY

PRESIDENT, PAR VENTURES LLC, BRISTOL

The Bristol Herald Courier named Stacy and his longtime friend Jim McGlothlin as the 2020 Bristolians of the Year for their work developing the Hard Rock Hotel and Casino Bristol, which is slated to open next year.

McGlothlin credits Stacy with conceiving the idea of bringing jobs to the economically challenged area by building a casino at the vacant Bristol Mall, which Stacy purchased in 2018 for $2.6 million. The duo went on to hire lobbying and public relations firm Alliance Group Ltd. to coax Richmond lawmakers into legalizing casinos — a feat others had tried without success for decades. At the time, Stacy and McGlothlin described their proposal as a moonshot idea — a bold solution to a big problem.

Amazingly, it worked. In 2020, the General Assembly approved legislation to allow casinos in five Virginia cities, including Bristol. In November 2020, 71% of Bristol voters approved of the idea in a referendum.

A former coal mining executive who headed Rapoca Energy Co., Stacy also invested in Dharma Pharmaceuticals LLC, a licensed medical cannabis processor that was sold in July to Chicago-based Green Thumb Industries Inc.

 


 

Terry

ERIC D. TERRY

PRESIDENT, VIRGINIA RESTAURANT, LODGING & TRAVEL ASSOCIATION, RICHMOND

Terry brought three decades of experience in the hospitality industry when he came aboard as leader of the Virginia Restaurant, Lodging & Travel Association in 2014.

A dedicated advocate, Terry promotes the interests of his association’s 1,500 member companies. This year, that’s meant lobbying lawmakers for much-needed relief funds and talking with business leaders and media about the impact of extended unemployment payments on Virginia’s tight labor market, which has disproportionately affected hotels and restaurants.

In April, Terry sent a letter to the chairs of the General Assembly’s appropriations committees asking Virginia’s lawmakers to dedicate more than $270 million from the state’s share of federal American Rescue Plan funds to assist hospitality-related industries.

A graduate of Virginia Tech’s Hospitality and Tourism Management program, Terry previously worked in leadership positions for then-The Redstone Cos. Benchmark Hospitality International Inc. and Malibu Entertainment Worldwide Inc.

FAVORITE VACATION DESTINATION: The beach

PERSON I ADMIRE: Ronald Reagan was the first president I ever voted for, and he did an unbelievable job fixing the economy, fighting communism and instilling a pride in America.

 


 

Virginia Beach developer Bruce Thompson at the restored Cavalier Hotel Photo courtesy Gold Key | PHR
Thompson

BRUCE L. THOMPSON

CEO, GOLD KEY | PHR, VIRGINIA BEACH

Virginia Beach’s historic but crumbling Cavalier Hotel almost certainly faced a wrecking ball before Thompson came to the rescue in 2013.

In his youth, Thompson had worked security and cut grass for the renowned property, and he wanted to see it saved. It took $85 million in renovations from Gold Key | PHR, but the hotel reopened in 2018.

Additionally, Gold Key is developing an assemblage of other surrounding properties to create an oceanfront campus known as Cavalier Resort. The $125 million Marriott Resort Virginia Beach Oceanfront began welcoming guests in June 2020. Gold Key completed construction of upscale condo development 42 Ocean in spring 2021. The 12-story Embassy Suites, the final piece of the Cavalier campus, should open by 2023.

Thompson also submitted a proposal for the redevelopment of Norfolk’s Military Circle Mall to the Norfolk Economic Development Authority.

Since his son, Josh, was diagnosed with amyotrophic lateral sclerosis in 2007, Thompson has worked to raise money for scientific research for ALS and to build facilities for people with disabilities. Josh Thompson died in October 2020 at age 46.

Virginians bet $235M on sports in June

Virginians bet $234.9 million on sports in June but nearly broke even, making $212.9 million during the fifth full month for legal sports wagers, according to data released Friday by the Virginia Lottery.

Virginia sports betting wagers now total more than $1.3 billion since the state legalized sports betting in mid-January.

In May, the state reaped about $226.9 million in gross revenue from sports betting, making June’s revenue an increase of 3.5%.

The seven licensed operators included in June’s reporting were Betfair Interactive US LLC (FanDuel) in partnership with the Washington Football Team; Crown Virginia Gaming LLC (Draft Kings); BetMGM LLC; Rivers Portsmouth Gaming LLC (Rivers Casino Portsmouth); Caesars Virginia LLC (William Hill); WSI US LLC (Wynn); and Unibet Interactive Inc.

The state has placed a 15% tax on sports betting activity based on each permit holder’s adjusted gross revenue. With four operators reporting net positive adjusted gross revenue, the monthly taxes for June total $2.27 million.

In the fiscal year that ended June 30, the lottery reported a record $3.26 billion in annual sales.

Virginians bet $236M on sports for April

Virginians bet $236 million on sports during April, the third full month for legal sports wagers in the commonwealth, according to data released Friday by the Virginia Lottery.

Bettors made about $217 million between April 1-30. Virginians bet 22% less in April than in March when they wagered heavily on the NCAA Division I men’s basketball tournament.

The seven licensed operators included in the April numbers were Betfair Interactive US LLC (FanDuel) in partnership with the Washington Football Team; Crown Virginia Gaming LLC (Draft Kings); BetMGM LLC; Rivers Portsmouth Gaming LLC (Rivers Casino Portsmouth); Caesars Virginia LLC (William Hill); WSI US LLC (Wynn); and Unibet Interactive

The state has placed a 15% tax on sports betting activity based on each permit holder’s adjusted gross revenue. With four operators reporting positive adjusted gross revenue, the total take for the state government was $1.65 million.

Sports betting was legalized in Virginia in mid-January.

Richmond panel recommends $600M Urban One casino proposal

The city of Richmond’s casino advisory panel has recommended Silver Spring, Maryland-based Urban One Inc.’s $600 million ONE Casino + Resort proposal to move forward for consideration by City Council and citizens, Mayor Levar Stoney’s office announced Thursday. If Council approves the recommendation and voters support it in a November referendum, the resort will be the nation’s only casino currently under Black ownership.

Urban One owns and operates 55 radio stations and the TV One cable network. For this project, the company’s first casino, it has paired with Peninsula Pacific Entertainment, owner of Colonial Downs Group and the Rosie’s Gaming Emporium franchise. The casino is proposed to be built on 100 acres owned by Altria Group Inc. on the city’s South Side, near Interstate 95.

This project includes a sportsbook, 200 hotel rooms (up from 150 previously announced rooms), a 3,000-seat theater, 100,000 square feet of gaming space (up from 90,000 square feet), and 12 bars and restaurants.

A field of six proposals was narrowed to two last month by the city’s nine-member advisory panel, a group comprised of city employees and two City Council members who have been studying competing casino proposals since earlier this year. With Thursday’s announcement, Baltimore developer The Cordish Cos.’ proposed $600 million Live! Casino & Hotel Richmond resort, which was to be built near the city’s Scott’s Addition neighborhood, is out of the running. Residents of nearby neighborhoods had reacted with strong concerns about traffic and crime around the casino’s location, while there was less outcry about the ONE’s location, which is planned for a more industrialized part of the city, although there are residential neighborhoods in the general area.

“ONE Casino + Resort presents a tremendous opportunity to develop a resort casino project in Richmond,” Stoney said in a statement Thursday. “The project will create over 1,000 good paying jobs, generate a significant amount of new revenue for the city, and establish an additional economic engine in South Richmond. I applaud the work of the evaluation panel in their vetting of the proposals and engaging the entire city throughout this project.”

The proposal will now go to the Richmond City Council on May 24, where city councilors will vote by June on whether to approved the proposed casino and its operator. If Council approves the proposal, the casino’s fate will be decided by voters in a Nov. 2 referendum. If it does receive the green light from voters, the casino will still need to meet requirements of the Virginia Lottery, the state agency tasked with regulating casinos and gaming in the commonwealth.

Richmond is the last of five cities voting on whether to allow a commercial casino, after the Virginia General Assembly voted in 2020 to allow five economically challenged cities across Virginia to have one casino per locality if approved by local voters. Bristol, Danville, Norfolk and Portsmouth all passed casino referendums last November by large margins. Although no polls have been released on Richmonders’ likelihood of passing the casino referendum this year, there appears to be reluctance among some residents to build a casino, although the most vocal resistance was against the Live! Casino’s proposed North Side location and, earlier, Bally’s proposed location on a heavily residential area in the city’s South Side.

“ONE is thrilled the Richmond casino selection committee has chosen the best project with the best location and best team to develop a world-class entertainment destination in Richmond’s South Side,” Urban One CEO Alfred Liggins said in a statement. “Urban One and our diverse group of local investors are fully committed to creating good-paying jobs with profit-sharing for employees, pathways to successful careers and generating significant new tax revenues that can improve Richmond’s schools and fund community programs and infrastructure.”

The city will hold a public, virtual meeting to discuss the project on Tuesday. More information is available here.

Bettors waged $304M+ in March, Virginia Lottery reports

Betting on the NCAA Division I men’s basketball tournament accounted for more than $83.5 million of the $304 million in sports wagering that took place in Virginia during March 2021, according to a report released Friday by the Virginia Lottery.

In all, Virginians bet $304.06 million and won $277.49 million in the second full month of legal sports betting in the commonwealth. That was an increase from the $265 million in bets placed in February, a month that included $19.5 million in bets on Super Bowl LV.

“We expected Virginia to do well when sports betting launched in January, but the market is surpassing expectations,” said Dustin Gouker, analyst for PlayVirginia.com. “With the Super Bowl and the NCAA Tournament soon after the market launched, timing has been key. And bettor enthusiasm has been strong. About the only way Virginia could have had a better start is if the state hadn’t barred betting on in-state college teams, which would have boosted interest in March Madness.”

The six licensed operators included in the March numbers were Betfair Interactive US LLC (FanDuel) in partnership with the Washington Football Team; Crown Virginia Gaming LLC (Draft Kings); BetMGM LLC; Portsmouth Gaming Holdings LLC (Rivers Casino Portsmouth); Caesars Virginia LLC (William Hill); and WSI US LLC (Wynn).

Virginia places a 15% tax on sports betting activity based on the permit holder’s adjusted gross revenue. With three operators reporting positive adjusted gross revenue, the total take for the state government was $1.18 million.

Richmond nixes Bally’s casino proposal

The city of Richmond has cut the $650 million Bally’s casino proposal from consideration, leaving two competitors, the mayor’s office announced Wednesday morning.

The Live! Casino & Hotel proposal by Baltimore-based The Cordish Cos. and ONE Casino and Resort, proposed by Silver Spring, Maryland-based Urban One, are the only two options now being considered by an evaluation panel named by the city. According to a spokesperson for Urban One, the two finalists were allowed to enhance their proposals, and members of Richmond’s selection committee will be making site visits soon.

“We appreciate Bally’s interest to develop a resort casino project in Richmond,” Leonard Sledge, director of the city’s Department of Economic Development, said in a statement. “The evaluation panel is no longer considering the Bally’s project or the Parkway Crossings site for a resort casino due to concerns about site access, environmental factors and required approvals from non-city entities that may not be granted or extend the project timeline. We also appreciate the many Richmond citizens who have shared their thoughts throughout this process.”

Bally’s Corp. President and CEO George Papanier said in a statement Wednesday, “We are disappointed and surprised in the evaluation panel’s decision. We are the best operator to partner with the city on this endeavor and we provided the largest financial package with the most economic benefit to [Richmond] residents and business owners. We were deeply committed to this project, as well as to becoming a responsible neighbor and member of the Richmond community. Should the city reconsider its decision, we would be pleased to reengage.”

Papanier added that Rhode Island-based Bally’s still plans to offer its online sports-betting platform in the state, after it was recently awarded a temporary permit in mid-March. Virginia legalized sports wagering in January, and in February, Virginians bet $265 million on sporting events with five licensed operators.

The city recently concluded a series of virtual public meetings and accepted public comments about what is the state’s only undecided casino project under current law. Many residents around the proposed Bally’s location in Richmond’s Stratford Hills neighborhood near the Chippenham and Powhite parkways objected to the $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. The proposal also included a $100 million one-time payment to the city. Opponents pointed to traffic and crime concerns, even holding a public protest in recent weeks.

However, when the Bally’s team tried to move its proposed location, city officials turned down the request, noting that the location was part of the request for proposals last year.

Still in the running:

  • Urban One’s $600 million ONE casino, an increase from its previously announced $517 million budget. 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, 200 hotel rooms (up from 150 previously announced rooms), a 3,000-seat theater, 100,000 square feet of gaming space (up from 90,000 square feet), and 12 bars and restaurants, would be built in a largely industrial area on 100 acres owned by Altria Group Inc. on Richmond’s South Side.
  • Baltimore-based The Cordish Cos., which owns casinos in Baltimore, Philadelphia, Pittsburgh and Florida, has proposed building the $600 million Live! Casino & Hotel Richmond resort just outside the trendy Scott’s Addition neighborhood, on the current Movieland theater property near The Diamond baseball stadium. 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. In an update sent to Virginia Business on Wednesday, Cordish said its proposal now also includes a pledge of more than $200 million in incremental community benefit payments to the city over the first 15 years of the project to “help fund critical community services such as education, infrastructure, health care, parks [and] recreation, workforce development and affordable housing.” Cordish also anticipates its casino would create 5,000 construction jobs and 3,000 permanent jobs.

The Live! casino also has run into neighborhood resistance, citing many of the same concerns as neighbors of the Bally’s site. Urban One’s plan has seen less pushback, however.

Richmond is the last of five cities in Virginia to consider a commercial casino, and the nine-person advisory panel — including Sledge, two city councilors and other Richmond officials — is expected to make a recommendation in May to Richmond City Council, which is set to vote on the matter by June. If the council approves the casino’s operator and location, voters will have the chance to weigh in by referendum on the November ballot. Voters in Bristol, Danville, Norfolk and Portsmouth overwhelmingly passed casino referendums last year, and four casinos are now in the works across Virginia.

Richmond and Danville were the only two cities to offer a request for proposals, and Richmond originally received six casino plans that fit its specifications. In March, Richmond narrowed the field to three, rejecting projects by the Pamunkey Indian Tribe, Golden Nugget Hotels & Casinos and Wind Creek Hospitality.

Va. sports betting rakes in $265M during first month

Virginians bet $265 million on sports during February, the first full month for legal sports wagers in the commonwealth, according to data released Thursday by the Virginia Lottery.

The house wound up winning — but just barely — with bettors making $253 million between Feb. 1-28, including the Feb. 7 Super Bowl, when people bet $19.5 million in Virginia, according to the Lottery’s monthly report on sports wagering activity.

The five licensed operators included in February’s reporting were Betfair Interactive US LLC (FanDuel) in partnership with the Washington Football Team, Crown Virginia Gaming LLC (Draft Kings), BetMGM LLC,  Portsmouth Gaming Holdings LLC (Rivers Casino Portsmouth) and Caesars Virginia LLC (William Hill). Operators reported nearly $13.2 million in bonuses and free-play incentives in February.

The state has placed a 15% tax on sports betting activity based on each permit holder’s adjusted gross revenue. In February, the state collected $300,593 in total taxes, as only one operator reported positive AGR last month.

Sports betting was legalized in Virginia in mid-January.

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Richmond cuts three of six casino proposals

Updated, March 25

The city of Richmond has rejected three of its six casino proposals. The Pamunkey Indian Tribe, Golden Nugget Hotels & Casinos and Wind Creek Hospitality are no longer in the running, the city confirmed Wednesday night.

In late February, the city announced that six casino projects had been submitted for consideration. Still under consideration are projects proposed by Rhode Island-based Bally’s Corp., Baltimore-based Cordish Cos., and a partnership between Colonial Downs and Maryland-based media company Urban One Inc.

“The Pamunkey Indian Tribe was extremely disappointed to learn directly from the city of Richmond that its casino proposal would not receive any further consideration in the Richmond casino selection process,” Pamunkey Chief Robert Gray said in a statement Wednesday evening released ahead of the city’s announcement. “The timing of the decision, which comes before the public comment period has even concluded, seriously undermines confidence in the selection process and suggests a predetermined outcome has been reached. The timing of this decision also suggests that public and community input will not be seriously considered in this process.

“Further, it appears that the city of Richmond did not afford the Pamunkey Indian Tribe the optional preference in state law that recognizes the Pamunkey Tribe’s ancestral heritage in the region. The Pamunkey Indian Tribe submitted the only 100% minority-owned, Virginia-based proposal. We were shocked to learn of our early dismissal from a process occurring in our native region and state, particularly in light of the fact that the tribe was one of the first entities — if not the first — to talk to the city about gaming before commercial gaming was legalized in the commonwealth.”

Wind Creek Hospitality released the following statement Wednesday evening: “We are disappointed to learn that Wind Creek Hospitality will not be considered for the Richmond casino project. We strongly believe that Wind Creek sets itself apart from other operators by not only building casino resorts, but by building up the communities our properties are located within. We wish the best of luck to the other operators and to the city of Richmond as they continue through the selection process.”

A rendering of the proposed Richmond resort and casino provided by Pamunkey Indian Tribe, now out of consideration.

Richmond Mayor Levar Stoney’s office confirmed the narrowing of the field in a news release Wednesday night. “These proposals did not advance due to factors such as lack of site control, concerns about the feasibility of financial projections, lack of organizational experience and/or deficiency of the proposal,” according to the statement. “The top-ranked proposals stood out because the operators provided strong proposals with detailed financial and operational analyses to support their vision for a resort casino in Richmond. The evaluation panel will enter into the next phase of evaluation and begin negotiations with these operators, while continuing to engage the Richmond community.”

The mayor’s office named seven city employees and two Richmond City Council members earlier this year to serve as an advisory panel that will recommend one proposal, which will then be considered by the council and ultimately by city voters on the November ballot. The panel is expected to make its recommendation to City Council by late May or June, and has been holding virtual public meetings  to answer questions and receive input from Richmond residents.

City Council is expected to select a preferred casino operator this summer but Richmond voters will have the final word in a November referendum, judging whether to grant approval to the casino to operate in Richmond. Voters in Bristol, Danville, Norfolk and Portsmouth overwhelmingly approved casinos in each of those cities in November 2020 local referendums.

According to the city, there will be virtual public meetings with each of the three remaining casino operators next week, in which they will take residents’ questions. More information on the decision process is available on the city’s website, including a map with the proposed sites.

Still in the race

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.”

Out of the running

The Pamunkey tribe’s $350 million proposal, which included a 300-room, four-diamond hotel tower, a spa, pool, fitness center and several restaurants, was the least expensive of the projects submitted, and its proposed location was on the city’s South Side, off Interstate 95 and south of the Bells Road exit on 24.5 acres. Wind Creek, affiliated with the Poarch Band of Creek Indians, proposed its $541 million casino on Richmond’s South Side as well, with 100,000 square feet of gaming space, a 67,000-square-foot entertainment center, a spa, indoor pool and seven food and beverage locations. Golden Nugget’s $400 million proposal was for the same property as the Bally’s proposal, north of Powhite Parkway and east of Chippenham Parkway.

The Pamunkey project was the only one submitted by a Virginia-based entity, and it was the tribe’s second casino proposal, with construction set to begin on its $500 million Norfolk casino this year.

Golden Nugget did not respond to emails seeking comment.

 

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Online games made up 21% of Va. Lottery income

The Virginia Lottery raked in $436 million from online lottery games between their July 1, 2020, launch and the end of February, making up 21.8% of the state lottery’s total $2 billion revenue during that period.

According to a news release Wednesday, 163,000 players have won prizes playing the lottery online, including the Mega Millions, Powerball and Cash4Life games.

The lottery generated $595 million for K-12 education in the fiscal year 2020, and it anticipates breaking sales and profit records in fiscal year 2021, which ends June 30.

Gambling options have broadened in Virginia in recent months; along with the Virginia Lottery’s online games, the state legalized sports wagering in January and currently has eight licensed sports betting operators. Bally’s and the Golden Nugget — casino companies vying for the casino project in Richmond — have received temporary licensure from the Virginia Lottery to run sportsbooks but are not currently active. In January, Virginians bet $58.9 million with mobile sportsbooks.

Under current law, the Lottery can allocate 12 mobile betting licenses, but Gov. Ralph Northam is considering legislation that would expand the number of licenses available. Sports betting platforms with minority ownership or that will provide assistance to a historically disadvantaged community or historically Black colleges and universities in Virginia can be given licensure without counting toward the 12-license total in bills passed during the recent General Assembly session. Northam has until the end of March to sign the bills.

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Richmond confirms six eligible bids for casino, seeks public input

Place your bets. Richmond Mayor Levar Stoney’s office confirmed Friday that the six casino proposals made public this week all submitted proposals that are eligible for consideration by Richmond City Council and voters.

The city also revealed the proposed locations for all six plans.

Bally’s Corp. and Golden Nugget Hotels & Casinos are interested in building a casino on property off Chippenham and Powhite parkways south of the James River and near the western edge of the city limits. In a statement, a Bally’s spokesperson said, “Bally’s is flattered that another bidder appreciates the location that we have the exclusive right to purchase. Though Parkway Crossing is Bally’s preferred site, we have multiple options for other sites, and notably maintain flexibility with the exclusive right to purchase a second site located in Richmond pursuant to the same executed letter of intent.  As such, we are confident that we will have an attractive site upon which to build the high-quality product for which Bally’s is known for the benefit of the greater Richmond community.”

Other contenders include Virginia’s Pamunkey Indian Tribe, Baltimore-based Cordish Cos., Wind Creek Hospitality and a partnership between Colonial Downs and Maryland-based media company Urban One Inc.

The other locations include:

  • ONE Resort & Casino at Walmsley Boulevard and Interstate 95, at the Philip Morris Operations Center property owned by The Altria Group
  • Pamunkey and Wind Creek’s proposals on separate properties on Commerce Road, also on Richmond’s South Side near I-95
  • The Cordish Cos., at 1301 N. Arthur Ashe Boulevard, near The Diamond and the Scott’s Addition neighborhood.

The first virtual community meeting to discuss the six proposals will take place March 9, and full details will be available on the city website. An evaluation panel named by the city will make its final recommendations to the Richmond City Council in May or June, with the council choosing a preferred casino operator and project by June.

That will be followed by a citywide campaign to inform community members about the project before the November election, when city residents will decide whether to approve the casino via a ballot referendum.

If approved, the Richmond casino would be the fifth and final approved casino project in Virginia, which legalized commercial casino gaming last year in five cities. Bristol, Danville, Norfolk and Portsmouth voters all voted overwhelmingly in favor of allowing casinos in their cities last November.

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