The Live! Gaming & Entertainment District is located at the intersection of Wagner Road and Interstate I-95, and will offer easy access on and off the east coast's major north-south interstate.
Petersburg Mayor Sam Parham said: "The details show what the City's vision is for this type of project and why we wanted to work with Cordish as the developer.
"An important part of our selection process was to identify a development partner with a proven track record in developing and operating mixed-use and casino properties, a long history of revitalising cities across the country, and strong community engagement practices."
Cordish is one of the largest, most-respected developer-operators of upscale mixed-use, entertainment and casino resort destinations in the United States.
"The Cordish Companies is pleased to unveil details today for this major transformative development," said Zed Smith, The Cordish Companies COO.
"Live! Gaming & Entertainment District will be a catalyst for change and significant urban development, will transform the City by creating a thriving entertainment and hospitality attraction for the entire region…,” Smith added.
Developed in phases, the Live! Gaming & Entertainment District, upon full build-out, is expected to generate $10+bn in economic stimulus to the Region, $1.1bn in total tax revenues, 10,000 jobs, etc., in 15 years.
Live! Casino & Hotel Virginia will also serve as a transformative development, creating maximum community benefits for the City of Petersburg and its residents.
