Petersburg Casino Odds improve with Potomac Yard’s Defeat

Posting date: March 28, 2020, 10:55h 

Last updated on: March 28, 2020, 11:32h

On Wednesday, it’s likely that the odds of Petersburg asking residents if the city supports a commercial gambling resort in the Virginia town increased. This is after billionaire Ted Leonsis said he would keep his professional sports teams in Washington D.C.

In what is the latest political defeat, Virginia Gov. Glenn Younkin (R), once a rising star in the Republican Party — but who was dealt a major blow during the 2023 election when Democrats regained control of the state House of Delegates and increased their Senate control — Leonsis said Wednesday he’s staying put at Capital One Arena in Washington. Younkin was trying to lure Leonsis a $2 billion sports-and-entertainment complex in Alexandria, which will house the NBA Washington Wizards and NHL Washington Capitals as well as WNBA Washington Mystics.

After Washington officials offered Leonsis $515 million for renovations and improvements to his home, Leonsis agreed that he would stay in the nation’s capitol.

“I focus on outcomes, not processes. We got the right result,” Leonsis said that Washington’s sports teams should remain in the district.  

Washington Mayor Muriel Barrows (D), an unpopular mayor due to the city’s increasing illegality and homelessness, stated that the city’s pledge of more than half a billion dollars will result in “a state-of-the art urban arena.”

Younkin Bargaining Card

Virginia lawmakers approved legislation in the early part of this year that designated Petersburg as a potential casino. The political effort was made after Richmond voters twice rejected a referendum on a casino.

Petersburg city officials, as well as the public, are in favor of becoming a destination for casinos. Younkin has not said if he will sign the bill.

Youngkin Dismissed reports He was holding up the casino bill in Petersburg until more Democrats backed Potomac Yard. Now that the project has been abandoned, this bargaining chip is no longer available.

Younkin, a natural irritated person, was upset by the General Assembly’s decision to not include the Potomac Yard in the state budget. Leonsis also abandoned what could have been a legacy for the governor.

Virginians deserve better. A unique project bringing world class athletes and entertainment, creating 12 billion dollars in economic activity and 30,000 new jobs, just went up into smoke.” Youngkin makes a statement.

This transformational project could have brought investment to all corners of the commonwealth. This should have been our deal and our opportunity, all the General Assembly had to do was say: ‘Thank you, Monumental, for wanting to come to Virginia and create $12 billion of economic investment, let’s work it out.’ But no. Personal and political agendas prevented a deal without upfront general fund money or tax increases, which created tens thousands of jobs and billions of revenue for Virginia.

Clock ticking

Virginia Constitution requires the governor to act on all bills sent to him within 30 calendar days. Younkin will have until April 8, 11:59 pm Eastern Standard Time to act on a Petersburg casino bill.

After a project has been approved, it will be put to the voters in November. To move forward, the gaming initiative would need a simple majority to be supported.