Colonial Heights
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The Progress-Index
The Progress-Index
Live! Casino Virginia sees revenue bounceback in October
Live! Casino Virginia 's October revenues bounced back from a September dip , according to figures released Nov. 13 by the Virginia Lottery . The Petersburg casino's adjusted gross revenue (AGR) for October was $13.54 million, according to the data. That is about a half-million dollars higher than the previous month when the AGR dropped by more than $1 million. Slot AGR rebounded from $9.5 million in September to $10.2 million in October. Table-game revenue stayed about the same at $3.33 million. As far as state and local tax revenue for October, Live! put $2.44 million into Virginia's pocketbook and more than $812,000 into Petersburg's. That has not changed much in the 10 months the casino has been open. Since opening Jan. 22, Live! Casino Virginia's AGR sits at more than $131 million. More: How blackjack dealing was in the cards for former Richmond food server Statewide, Caesars Virginia in Danville continues to be the top-grossing casino resort with $36 million in October. Rivers Casino in Portsmouth was second with $26 million, followed by Hard Rock Bristol with $23 million. Those three are operating in their permanent locations while Petersburg and The Interim Gaming Hall in Norfolk are in temporary
The Progress-Index
Iconic Quick Lunch restaurant first to get Hopewell's new development loan
The city of Hopewell is launching a marketing and financing strategy to encourage repurposing vacant commercial buildings into viable business opportunities, and the first beneficiary a $75,000 loan is an iconic city restaurant. In a statement Thursday, Nov. 12, the Hopewell Economic Development Authority said the programs, called Hopewell Sites Ready Marketing and Sites Ready Property Activation Loan will "encourage private investment, and create new opportunities for business development throughout the city." The marketing program is a free and voluntary incentive through which properties will be promoted on Hopewell's website and social-media channels and be included in city recruitment efforts locally and nationally. It is designed to put local properties on the radar of potential buyers and investors. The loan program provides financing at rates determined by the EDA on a case-by-case basis. It would help finance renovations, structural repairs, site preparation, infrastructure upgrades and any other vital necessities to get the property up and running. “The strong partnership we have built between City Council and the Economic Development Authority over the past several years is producing meaningful results for Hopewell,” Mayor Johnny Partin Jr. said in the statement. “Through improved collaboration, shared priorities, and a unified vision for our