Rivers Portsmouth Casino Resort will move closer to completion with the upcoming groundbreaking ceremony for the Portsmouth casino.
On Tuesday, December 7, the Portsmouth Mayor, Shannon Glover, made an announcement regarding the upcoming Portsmouth casino groundbreaking.
Additional event details will be announced by officials in the days ahead. Nevertheless, the planned Portsmouth casino-resort is still on track to have its grand opening in 2025.
Portsmouth and Chicago-based Rush Street Gaming have recently received more positive news, with an exciting groundbreaking event on the horizon.
Portsmouth casino groundbreaking follows Richmond no vote
Located at the junction of Victory Boulevard and Cavalier Boulevard off I-264, the Rivers Portsmouth Casino Resort, with an impressive investment of $300 million, will be established.
The year 2020 witnessed the approval of a casino referendum by the voters of Portsmouth, paving the way for the realization of an ambitious project. The envisioned resort will encompass a multitude of amenities including a casino, sportsbook, hotel, live event center, conference space, diverse dining options, lively bars, and a range of retail establishments.
Among the four Virginia casino cities, Rivers Portsmouth Casino Resort has the lowest budget with a price tag of $300M.
Furthermore, in contrast to the voter-approved casinos in Bristol and Danville, Norfolk will face competition in its vicinity. As preparations are made for the commencement of a casino in Portsmouth, the City of Norfolk and the Pamunkey Indian Tribe are progressing with the development of the Pamunkey Casino Resort Norfolk, a project valued at $500 million.
Just eight miles apart, the Portsmouth and Norfolk casinos have recently received encouraging news.
In the Virginia capital city, Richmond, a referendum was rejected by voters earlier this month. This decision halted the realization of the ambitious $560 million One Casino + Resort project.
Now that the project has been abandoned, travelers from north of Virginia can easily reach Norfolk and Portsmouth without any other casinos obstructing their path. Nevertheless, several cities in the Richmond area are already competing for the opportunity to have their own casino.
When will the Portsmouth casino open?
Rush Street officials have been incredibly occupied with the development of Rivers Portsmouth Casino Resort, despite the imminent ceremonial groundbreaking.
In late summer, the clearing of the 50-acre construction site was initiated by the crews. Around 1,400 temporary construction positions are being hired by officials for this phase of development. Following completion, approximately 1,300 full-time jobs will be filled for the resort.
At present, Rush Street manages casinos across Pennsylvania, Iowa, Illinois, and New York, generating an impressive annual gaming revenue of over $1 billion.
Put simply, Rush Street is well-equipped to handle a project of this size.
In a recent development, the Portsmouth casino has appointed Roy Corby, a seasoned gaming veteran, as their general manager. Additionally, they have unveiled the newest set of renderings for Rivers Portsmouth Casino Resort.
Officials are aiming for a 2025 opening date for the Rivers Portsmouth Casino Resort, and while the specific timeframe within that year is yet to be determined, significant progress has been made. With the pending groundbreaking for the Portsmouth casino, officials are steadily working towards opening the resort in less than two years.
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