Richmond Mayor reveals true cost of failed casino initiative

Article by : Charles Perrin Nov 13, 2023

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The resounding decision to block the construction of a new casino in Richmond, Virginia, may well have seriously hurt the funding of childcare programs.

Those are the thoughts of Richmond Mayor Levar Stoney, who has admitted that last week’s vote will have seen as much as $26.5million stripped from the city’s future spending plans.

Residents turned up at the polls in their numbers. Around 40,000 papers were marked, with the ‘No’ vote claiming a landslide victory of 62-38%, spelling the end of the casino project.

Supposedly, developers Urban One and Churchill Downs spent a record $10m on a door-to-door campaign to engage voters and drum up support for the $562m casino project.

Mayor Stoney and the Richmond City Council had revealed that the bulk of the tax windfall would have gone towards creating a childcare and education trust for the city.

But after seeing such a project roundly rejected for the second time in three years, Mayor Stoney couldn’t conceal his angst.

He said: “When Richmond voted no for the casino, they also voted no for $26.5million upfront to build two new child care centers, and $19million annually to establish the Richmond Child Care and Education Trust Fund.

“We are back to where we were prior to this opportunity.”

As a result, Mayor Stoney has revealed that the failed casino initiative means that residents should brace themselves for a hike in tax rates, and less funding will be allocated for other programs.

However, such comments haven’t sat well, and political activist Paul Goodman, who threw his weight behind the “No Means No Casino” committee hit out at the Mayor.

He said: “You can’t tell me the only way to help kids is to rip off their parents.

“We’re not lacking money in Richmond. We’re lacking a vision and a will to do it.”

As things stand, the 2020 gaming bill passed by Virginia lawmakers, which highlighted Richmond as a possible casino host, could well still hold further referendums in the future, but things remain decidedly rocky on that front.

Although Mayor Stoney recently announced his intentions to seek the Virginia governor’s office in 2025, the casino disaster will no doubt be considered a blot on his copybook.