Latest News
Bruce Smith Enterprise and The Cordish Companies Partner on Proposal to Codevelop $1.4B Transformative Mixed-use Development in Petersburg, Virginia
Bruce Smith Enterprise and The Cordish Companies have responded to a request for proposal issued by the City of Petersburg, Virginia with plans to codevelop a $1.4 billion Live! Gaming & Entertainment District, anchored by Live! Casino & Hotel Virginia. The proposed project will generate billions of dollars in economic benefits and spinoff development, create thousands of new jobs and benefits to the local community, and become a major new tourist destination for the City and the Central Virginia region.
The proposed site is ideally situated at the intersection of Wagner Road and Interstate I-95 with easy access on and off the East Coastâs major north-south interstate, making it the premier location in the Commonwealth. The partners also intend to quickly open an initial first phase casino within a year to begin creating jobs, vendor opportunities and economic benefits immediately for the City of Petersburg and its residents.
Bruce Smith Enterprise and The Cordish Companiesâ longstanding relationship dates back to 2008, and most recently the team has partnered to bring a world-class casino resort destination to the Commonwealth. The joint venture partnership is the first-of-its-kind in the gaming and entertainment industry to have a minority-owned business enterprise as co-development partner.
The Petersburg ownership team, which makes up 50% minority equity participation, will become the largest minority ownership opportunity in the gaming and hospitality industry in the country, and will become a model for other projects in Virginia and throughout the nation. The team includes substantial investment from prominent minority businesses and individuals with a long history of residing, working, and investing in the Commonwealth including former Cox Communications GM and philanthropist Gary McCollum, former Philadelphia Eagle and University of Virginia All-American receiver Billy McMullen, and the Reynolds Family, founding family of Reynolds Metals.
Bruce Smith Enterprise, led by legendary NFL Hall of Fame member and Virginia native Bruce Smith, is a commercial real estate firm that specializes in the development of premier mixed-use projects. Headquartered in Virginia Beach, VA, the company has developed notable properties throughout the state and the Mid-Atlantic region that feature the cohesive and seamless integration of residential, hotel, Class A office, and retail space. Since retiring from professional football in 2004 after a prolific 19-year career, the NFLâs All-Time Sack Leader has endeavored to bring the same level of unparalleled excellence, diligence, and leadership that he honed as a veteran on the field to the management of Bruce Smith Enterprise. The successful development of timeless mixed-use properties that survive and withstand trends of the marketplace, strengthen, and invigorate the local economy and create jobs are core values of Bruce Smith Enterpriseâs primary mission.
Bruce Smith Enterprise has flourished since its inception in 2004, partnering with Armada Hoffler in the development of the Mandarin Oriental Hotel, The Swedish Embassy, Harbourside Office Building in Washington, D.C., and Blocks 7 and 10 in The Town Center of Virginia Beach, VA. Bruce Smith Enterpriseâs portfolio also includes the Hilton Garden Inn and Smithâs Landing apartment community in Blacksburg, VA â a project built to service the needs of students, alumni, and their families at Smithâs Virginia Tech alma mater â as well as the Hyatt House Hotel and 27 Atlantic Apartments in Virginia Beach.
âI love Virginia. I was born and raised here. I attended VA Tech as a student athlete here, and after retiring from the NFL, I returned home with the inspiration and determination to help make it a more advantageous and prosperous place to live,â said Bruce Smith, Pro Football Hall of Famer, Prominent Virginian Developer and Community Leader.
âI have spent significant time in Petersburg talking with students and the community at large. Iâve had the opportunity to hear first-hand their stories of hardship, and I understand the struggle and the enormous challenges they face. Working as a developer in the state for over 20 years, Iâm confident that Bruce Smith Enterprise and The Cordish Companies are the right partners for this undertaking, because we share the same vision and understand the needs of the City of Petersburg and its citizens. Together we can do remarkable work in Petersburg that will transform lives, restore hope, and ultimately imbue a new energy of revitalization that will be felt for generations. Our proposal represents a historic opportunity to prioritize the Petersburg community and put Virginians first,â Bruce Smith added.
âWe are incredibly proud to join Bruce Smith and his team to present our vision for a transformational, world-class destination in Petersburg. As our development partner, Bruce shares our core values in investing for the long-term and creating jobs and opportunities for the community. No one comes close to our combined history of success and capabilities to be able to deliver a destination of this scale and complexity. The Cordish Companiesâ track record for designing, financing, building, and operating large-scale mixed-use developments and casino resort destinations in the country is unmatched. Our success includes achieving every commitment, program, and goal in our proposals for cities across the country. We are committed to excellence, creating unforgettable experiences for our guests, and treating our team members and communities like family,â Zed Smith, Chief Operating Officer for The Cordish Companies, said.
Latest News
Paysafe strengthens US iGaming solution with Pay by Bank launch
New product allows American bettors to log-in directly to their bank accounts at online sportsbooksâ cashiers to fund real-time wagersÂ
Paysafe, a leading payments platform, today launched Pay by Bank for iGaming, a new solution allowing U.S. online bettors to instantly and securely fund deposits at operatorsâ cashiers directly from their online bank account as well as cash-out winnings seamlessly. This product expands the capabilities of Paysafeâs Gateway, the iGaming payments solution that connects U.S. operators to the marketâs most comprehensive range of traditional and alternative payment methods via a single integration.
Building on Paysafeâs 25+ yearsâ history streamlining iGaming payments, the company added Pay by Bank to respond to the growing demand from U.S. players for payment choice. The Gateway already connects operatorsâ cashiers to Paysafe-processed card payments, the Skrill digital wallet, the Paysafecash online cash solution, and third-party payment products. Strengthening operatorsâ player acquisition, Pay by Bank provides their customers with yet another payment option that is particularly appealing to the 27% of bettors who prefer transacting via direct bank transfer, according to Paysafe research.
Leveraging Paysafeâs single-integration Gateway, U.S. online gaming operators can now offer Pay by Bank to their customers, giving first-time users the ability to sync their checking or savings account in just seconds, then fund their player account securely in real-time. For returning bettors, the process is even easier, with Pay by Bank supporting one-click payments from linked accounts.
Winnings can be withdrawn from playersâ sportsbook accounts just as seamlessly, with Pay by Bank enabling rapid payouts directly to linked bank accounts, again initiated through a single click.
For operators, all Pay by Bank transactions are indemnified, reducing liability if a playerâs deposit from their bank account defaults. Along with helping to drive player acquisition by providing more payment choice, Pay by Bankâs other benefits for operators include strengthening customer retention by improving the overall payment experience. According to Paysafe research, transactional speed and financial security are playersâ top-two priorities when it comes to the payment experience.
Zak Cutler, President of Global Gaming at Paysafe, said: âWeâre delighted to unveil our new Pay by Bank product for our iGaming solution, which will almost certainly prove very effective in both converting and retaining players for U.S. operators, with the productâs impressive transactional speed and robust security. Through Pay by Bank, we continue to grow the Paysafe Gateway by providing American operators and their customers with unparalleled payment choices, all through a single integration.â
Paysafe will be showcasing Pay by Bank and the Paysafe Gateway while exhibiting (Booth A270) at the SBC Summit North America in New Jersey from May 7th to 9th, 2024.
Latest News
Fanatics Betting and Gaming Partners with Continent 8 Technologies for Digital Infrastructure
Sports betting and online casino operator leverages companyâs hosting and connectivity solutions across regulated United States states
Fanatics Betting and Gaming utilizes Continent 8 Technologies to deploy a trusted digital infrastructure as it continues its rapid growth across the regulated United States online sports betting and online casino market.
Fanatics Betting and Gaming uses Continent 8 Technologiesâ innovative and reliable digital infrastructure solutions to deliver a seamless player experience in the United States. This includes hosting all of its in-state data centers through AWS Outposts. Continent 8 Technologies is supporting Fanatics Betting and Gaming by managing on-premises infrastructure and services in 20 states across the United States including Michigan, New York, Vermont and West Virginia, to name a few.
Continent 8 Technologies has one of the largest connected networks in the world, spanning over 100 locations across four continents including 30 United States states and counting.
The operator has also signed up for Continent 8 Technologiesâ Gaming Exchange. This is a powerful, private Internet that allows Continent 8 Technologiesâ customers to connect securely via a virtual private network (VPN) across its backbone network. This enables customers to share traffic at the lowest latency, securely and privately.
âWe have worked with Fanatics Betting and Gaming – a top-tier United States operator – from day one of its launch, supporting it as it has grown state-by-state,â the founder and Chief Executive Officer for Continent 8 Technologies, Michael Tobin, said. âFanatics Betting and Gaming is a high-caliber operator that understands the importance of infrastructure in delivering the top-quality player experience it is building its reputation on. Our leading digital infrastructure solutions provide the reliable connectivity operators need to deploy their online sportsbooks and casinos in regulated United States states quickly and compliantly.â
âInfrastructure is the foundation upon which we build our sports betting and casino experience,â the Vice-President of Technology for Fanatics Betting and Gaming, Bob Pascucci, said. âIn Continent 8 Technologies, we have a partner with an unrivaled reputation for supporting its customers, enabling us to continue to drive growth at pace.â
Learn more about Continent 8 Technologiesâ United States connectivity and infrastructure solutions at SBC Summit North America, May 7 to 9 at the Meadowlands Exposition Center, New Jersey, stand A290.
Industry News
Navajo Gaming Honors 186 Team Members for Employee Milestones
This month The Navajo Nation Gaming Enterprise (Navajo Gaming) honored 186 of its total 1200 team members for reaching significant employment milestones including 15, 10, and 5 years of service for the enterprise. The event at Twin Arrows Navajo Casino Resort in Flagstaff, Ariz. showcased the impact and journey of each hard-working team member, with a special highlight for 29 employees who have served for 15 years.
Less than 10 years after Navajo Gaming was created by the Navajo Nation and charged with the mission of creating jobs, increasing revenues, and stimulating incremental economic development within the Navajo Nation, the gaming enterprise created over 7425 direct, indirect and induced jobs with an overall economic output of over a billion dollars.
âNavajo Gaming employs 1200 people, 85 percent of whom are Navajo citizens. The award-winning AAAâs coveted Four Diamond Twin Arrows Casino Resort shares Navajo Culture through architectural nuances and local artists. Each of the property dining eateries feature âNavajo Beef,â and traditional cuisine of the Navajo people, and our invitation to stay, play and relax at one of our four properties or Travel Center is an open welcome to the Navajo Nationâs beautiful scenic transformation,â Matthew Shunkamolah, Interim Chief Executive Officer of Navajo Gaming, said.
Team members recognized for 15 years of services have worked their way up to a wide variety of position within the enterprise from General Manager and Executive Director of Slots, to Director of Security, Food and Beverage Supervisor and Executive Director of Government Affairs.
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