City of Petersburg, VA Selects The Cordish Companies as Development Partner for Transformative Destination Resort Project

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Oct 18, 2022, 19:56 ET

PETERSBURG, Va., Oct. 18, 2022 /PRNewswire/ -- The Cordish Companies has been selected by the City of Petersburg, VA as development partner for a proposed world-class gaming entertainment destination. This evening, the Petersburg City Council unanimously chose The Cordish Companies to help realize its revitalization vision for the City.

Zed Smith, COO of The Cordish Companies, has announced that Cordish has been selected by the City of Petersburg, VA as a development partner for a proposed world-class gaming entertainment destination. The Cordish Companies is one of the largest , most respected developer-operators of upscale mixed-use, entertainment and casino resort destinations in the U.S.

"The Cordish Companies is honored and excited to have been selected by the City of Petersburg as development partners on this transformative project," stated Zed Smith, Chief Operating Officer of The Cordish Companies. "Urban revitalization is at the heartbeat of The Cordish Companies' DNA. We share Governor Youngkin, Mayor Parham and the Petersburg City Council's commitment to create a world-class entertainment destination and mixed-use project with gaming that will generate millions of dollars in tax revenues and spinoff economic development, create thousands of new jobs and benefits to the local community, and become a major new tourist destination for the City."

The Cordish Companies is one of the largest, most respected developer-operators of upscale mixed-use, entertainment and casino resort destinations in the United States. Its Live! brand is one of the most recognized and established entertainment and casino brands in the country. In gaming, The Cordish Companies has developed the most successful casino entertainment resorts in the U.S. including the Hard Rock Hotel & Casino Hollywood, FL; the Hard Rock Hotel & Casino Tampa, FL; Live! Casino & Hotel Maryland; Live! Casino & Hotel Philadelphia; and Live! Casino Pittsburgh. The Cordish Companies has been awarded an unprecedented seven Urban Land Institute Awards for Excellence in recognition of its urban revitalization accomplishments, more than any other developer in the world. Cordish's revitalization initiatives in cities like Charleston, SC; the Inner Harbor of Baltimore, MD; and Kansas City, MO have served as a catalyst for broader growth and revitalization of those cities for decades.

"An important part of our evaluation was to identify a development partner with a proven track record in developing and operating mixed-use and casino properties, a long history of revitalizing cities across the country, and strong community engagement practices," stated Mayor Sam Parham, City of Petersburg. "The development of a casino in Petersburg is a once in a generation opportunity to set the course for economic growth for decades to come. We are confident that we have selected the ideal partner in The Cordish Companies to bring to fruition our vision for Petersburg."

The Cordish Companies has long embraced a strong approach to community integration and involvement. The Company is committed to supporting non-profit organizations in Petersburg, acting as a convener to assist community organizations and non-profits in their fundraising efforts and volunteerism, an endemic value to the Company and its team members. As a recognized leader in community outreach, The Cordish Companies has a proven track record of working with organizations in all markets where it does business to maximize opportunities for local-, women-, minority-, and veteran-owned companies and intends to make the same commitment in the City of Petersburg.

"We are excited to be involved in the Governor and state's vision to focus a special emphasis on the revitalization of Petersburg," continued Zed Smith. "We look forward to working with the City of Petersburg to deliver a transformative destination resort that will add new amenities to the area and draw new visitors from throughout the region to enhance the City's tourism efforts."

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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; 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 55 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 Hotel & Casino Hollywood, Hard Rock Hotel & Casino Tampa and Live! Casino & Hotel Maryland. The Company recently opened the highly acclaimed Live! Casino & Hotel Philadelphia, in the Philadelphia Stadium District, and Live! Casino Pittsburgh. 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 Twitter.

"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.

SOURCE The Cordish Companies