Rivers Casino Portsmouth is bolstering the city’s economy, having funneled over $40 million into local tax revenue since its 2023 opening. Owned by Rush Street Gaming, the casino hasn’t only become one of Portsmouth’s largest employers but also spurred major development. The latest initiative involves constructing a nearly 400-unit residential complex across from the casino, recently approved by the Portsmouth City Council.
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City Council Approves Housing Development
On July 14, the Portsmouth City Council unanimously greenlit a 394-unit housing project on a 30.5-acre site on Missy Elliott Avenue, just north of the casino. But plans show a mix of two-bedroom condos, townhouses, and multifamily dwellings, with prices ranging from the low $200,000s to $300,000. This project follows a January approval for a 300-unit development adjacent to the casino, highlighting the area’s real estate boom. And rivers Casino’s own $65 million hotel, The Landing, is under construction and set to open next year. This 106-key addition, featuring 32 suites, is just one part of the wider development wave in Portsmouth, as city officials reported $333 million in local investments in 2025. Brian Donahue, Portsmouth’s director of economic development, emphasized the city’s ongoing transformation, predicting many more major projects to come.
Casino’s Role in Regional Transformation
Since its $340 million launch, Rivers Casino has drawn numerous ventures, becoming a catalyst for local growth. And with 1,416 slot machines, 90 table games, and an accompanying sportsbook, the venue has been a magnet for visitors. It features an 11,000-square-foot event center and various dining options, including five full-service restaurants and a popular Starbucks. Performance metrics highlight Rivers’ successful operations. In its first year, the casino’s Gross Gaming Revenue (GGR) reached $250 million. The upward trend continued with GGR hitting $309 million in 2024 and $316.3 million in the subsequent year. The first half of 2026 alone saw a GGR of $161.3 million, positioning the casino for yet another year of revenue growth.
Market Context and Implications
Virginia’s casino market is evolving, with Rivers Casino Portsmouth playing a pivotal role. Its growth comes at a time when the state is expanding gambling operations, following legislative changes that have opened pathways for more casino investments. Even as Boyd Gaming prepares its $750 million venture in nearby Norfolk, the momentum in Portsmouth doesn’t appear to be slowing. Still, questions remain. Whether this rapid expansion will sustain long-term economic prosperity for Portsmouth hinges on market stability and effective integration of new developments. The city’s ongoing investment in hospitality and residential projects could serve as a model for similar mid-sized markets. What happens next? The construction of The Landing is set to conclude in 2027, potentially ushering in a new era of regional competition and growth.
Eri Gaitu leads the news desk at Best in Slot, tracking breaking developments across the gambling world in real time. From exclusive bonus offers and casino launches to licensing updates and regulatory shifts, Eri ensures readers are always first to know about the changes that matter to their gaming experience.
