NORFOLK, Va. — A new partnership between two prominent gaming companies could potentially breathe new life into the long-awaited Norfolk casino project. The partnership, announced on Friday, brings together the expertise of Cordish Companies and Peninsula Pacific Entertainment to collaborate on the development of the proposed $500 million resort and casino complex in Norfolk.
Cordish Companies, a leading real estate development firm with experience in gaming, entertainment, and hospitality projects, brings a wealth of expertise to the table. The company is known for creating innovative and successful developments, such as Live! Casino & Hotel in Maryland and Xfinity Live! in Philadelphia.
Peninsula Pacific Entertainment, on the other hand, is a respected gaming and hospitality company with a track record of success in various gaming markets. The company operates several casinos and gaming facilities across the country, including the Iowa Greyhound Park and Diamond Jo Casino in Iowa.
The partnership between the two companies is seen as a strategic move that could potentially accelerate the development of the Norfolk casino project. The project, which has been in the planning stages for several years, has faced numerous hurdles and delays. However, with the expertise and resources of Cordish Companies and Peninsula Pacific Entertainment behind it, there is renewed hope that the project will finally come to fruition.
“We are excited to partner with Peninsula Pacific Entertainment to bring our combined expertise and resources to the Norfolk casino project,” said Joe Weinberg, Managing Partner of Cordish Companies. “We believe that our shared vision and commitment to excellence will help us create a world-class gaming and entertainment destination that will benefit the city of Norfolk and its residents for years to come.”
The proposed Norfolk casino complex will include a 300-room hotel, a variety of restaurants and entertainment venues, a state-of-the-art gaming floor, and other amenities. The project is expected to create thousands of jobs and generate millions of dollars in revenue for the city.
City officials are optimistic about the potential impact of the new partnership on the Norfolk casino project. “We are thrilled to have Cordish Companies and Peninsula Pacific Entertainment on board to help us bring this exciting project to fruition,” said Norfolk Mayor Kenneth Alexander. “Their expertise and experience in the gaming and hospitality industries will be invaluable as we work together to create a world-class destination that will benefit our city and its residents for generations to come.”
The partnership between Cordish Companies and Peninsula Pacific Entertainment is still subject to approval by the city of Norfolk and the Virginia Lottery, but both companies are confident that the project will move forward smoothly. If all goes according to plan, the Norfolk casino complex could potentially open its doors to the public within the next few years, ushering in a new era of growth and prosperity for the city.
