Petersburg could support the operation of a casino, regardless of whether Richmond were to host one as well, a long-awaited legislative study concluded on Monday.
If both cities opened casinos in 2028, the Joint Audit and Review Commission found that the amount of tax revenues and new jobs would be lower in Petersburg than if Richmond did not open a casino in close competition.
However, two new casinos would boost state revenues to $1.1 billion in 2028, including gaming taxes from four other casino operations that voters in Bristol, Norfolk, Portsmouth and Danville already approved, the study found. Except for Bristol, those casinos would generate less revenue if Petersburg opens a gaming resort there and even more so if Richmond approves a casino after voters rejected a proposal last year.
