Posted on: Nov 27, 2021 at 12:59 pm
Last updated: November 27, 2021, 5:49 am.
Rivers Casino Portsmouth plans to hold a groundbreaking ceremony on Tuesday December 7th.
Portsmouth Mayor Shannon Glover confirmed the groundbreaking event but did not provide details on the possible consequences of the ceremony. What we do know is that Chicago-based Rush Street Gaming has $ 300 million available to build Rivers Casino on 57 acres. This property is located south of Interstate 264 between McClean Street and Victory Boulevard.
The project site is approximately five air miles southwest of downtown Portsmouth. The casino resort will be adjacent to the Tidewater Community College campus in Portsmouth.
Portsmouth was one of four cities in Virginia that passed local referendums to the development of a single casino during the 2020 presidential election. Casinos are also being built in Norfolk, Danville and Bristol.
In Portsmouth, residents passed their gambling referendum with no problems, with around 67 percent of voters answering âyesâ to the casino proposal.
Richmond was the fifth and only other city to have the right to ask residents if they wanted to allow casino gambling. . But voters in the Virginia capital turned down the proposed $ 565 million casino pitch earlier this month. Just over 51 percent voted against Urban One and Peninsula Pacific Entertainment’s project.
Work already in progress
Although Portsmouth and Rush Street will hold a groundbreaking ceremony for the construction of the casino next month, site planning began in early August. Crews were on the property almost every day removing vegetation and other groundbreaking obstacles.
The Virginia Lottery, which is tasked with overseeing the licensing, construction and future gaming operations of the state’s four land-based commercial casinos, signed the Rivers Portsmouth Plan in January.
Along with the expected 1,400 construction workers Rush Street claims will be needed to build rivers, the game operator plans to hire 1,300 full-time workers to operate the resort upon completion.
Richmond defeat victory for Portsmouth
Portsmouth Casino Resort is said to generate $ 16 million in local tax revenue annually for the city. The complex is projected to add more than an additional $ 200 million to the local road economy of Portsmouth and Hampton each year.
Richmond’s rejection of its casino is likely a positive outcome for Rivers Portsmouth as well as the casino business in nearby Norfolk. Local officials in Norfolk have teamed up with the Pamunkey Indian Tribe and billionaire gaming industry veteran Jon Yarbrough to build a $ 500 million casino resort. Ir will be on the Elizabeth River next to the city’s Harbor Park minor league ballpark.
Norfolk’s HeadWaters Resort & Casino and Portsmouth’s Rivers will benefit from not having a casino in Richmond, which is only about 70 miles northwest of the towns on Hampton Roads.
“The proposed casino in Richmond would have essentially blocked traffic from Richmond and Northern Virginia from getting to the casinos in Norfolk and Portsmouth,” said Bob McNab, economics professor at Old Dominion University.