Portsmouth breaks ground for new real-money casino in City

Portsmouth breaks ground for new real-money casino in City

Portsmouth mayor Shannon Glover stated that the city’s new real-money casino would break ground on December 7th. 

While the mayor did not specify what activities will take place during the groundbreaking ceremony, one thing is certain: Rush Street Gaming of Chicago will invest $300 million to build the Rivers Casino Portsmouth on 57 acres just south of Interstate 264 between McClean Street and Victory Boulevard.

Portsmouth River Casino will rise soon

Portsmouth was one of four cities in Virginia to vote in favor of the building of a single real-money casino site in the region. Norfolk, Danville, and Bristol are the other cities that held referendums during the 2020 presidential election. Richmond was the seventh city in Virginia to hold a casino referendum, but people rejected a proposed $565 project by Urban One and Peninsula Pacific Entertainment. 

In Portsmouth, the casino proposition passed handily with around 67 percent voting “YES” on the ballot. The project is estimated to create $16 million in annual tax income for the city and is expected to generate $200 million in economic activity annually along the Portsmouth and Hampton Roads.

Benefits from Richmond’s Demise

The One bid’s rejection in Richmond is a win for Portsmouth and Norfolk, which has partnered with the Pamunkey Indian Tribe and billionaire gaming industry veteran Jan Yarbough to build a $500 million casino resort on the Elizabeth River adjacent to the city’s minor league baseball stadium, Harbor Park. 

The One casino in Richmond would shut down traffic from Richmond to Northern Virginia to Norfolk and Portsmouth. With that project eliminated, the casinos in the said areas will gain significantly, given Richmond is located just 70 miles northwest of the Hampton Road cities.

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.