Rivers Casino Portsmouth Delivers Again, Powers New Housing Project

Rivers Casino Portsmouth is continuing to deliver for the local economy in southeastern Virginia.

Since opening to the public in Jan. 2023, the casino has consistently provided economic stimulus to the Atlantic region. The latest example of that is a new housing project with nearly 400 units, which passed an important vote this week.

The project has a targeted build site just north of the casino campus at the 30.5-acre lot at 109 Missy Elliott Boulevard.

More housing units near Rivers Portsmouth

Rivers Casino Portsmouth generated more than $40 million in local gaming taxes since it began operations over three years ago. It is also one of the city’s biggest employers, directly north of Chesapeake and across the river from Norfolk.

The new development involving the casino is that the Portsmouth City Council on Tuesday unanimously approved the 394-unit project. Seven votes were in favor and zero were against.

Planning documents presented to the council outlined 124 bedroom condos, 126 townhouses, and 144 multifamily units. Prices cost anywhere from $200,000 to $300,000. That’s right in line with the median housing sale price of $263,667 in the city as of April 30, according to Zillow.

This comes on the heels of 300-unit design for a property at Elliott Avenue and Missy Elliott Boulevard authorized by the Council in January. That project has plans of constructing an additional 140 townhomes and 160 multifamily units. 

To add to that, River is in the process of constructing a $65 million hotel with 106 rooms and an additional 32 suites. The hotel drew strong praise from Portsmouth’s director of economic development, Brian Donahue, who championed its construction. 

“I think it’s been decades since an eight-story building was constructed, but I can assure you there’s going to be many more to come,” Donahue said.

All-around growth

Portsmouth enjoyed a strong all-around year in 2025. Crime fell as economic activity increased, spurred by $333 million in local investments, the formation of more than 300 businesses, and constructions on more than 1,600 housing spaces.

The casino was firmly in the center of all of the city’s progress. Gross gaming revenue at the property climbed from $309 million the year before to $316.3 million in 2025, resulting in $62.8 million in total annual taxes. $20.2 million of that was allocated to Portsmouth, second only to Caesars Virginia and Danville. 

Rush Street Gaming put $340 million toward building the casino, which currently houses over 1,400 slot machines, 90 live-dealer table games, and a BetRivers sportsbook. Guests will also find an event center, an 11,000-square-foot multi-use venue, a full-service restaurant, a food station, and a Starbucks. 

The casino is off to a strong start to 2026. Its first-six-months revenue of $161.3 million puts it on pace for a new yearly high, assuming it performs as well as it did through June.

Virginia is home to five casino properties at temporary and permanent locations. Additional operators are located in Danville, Petersburg, Bristol, and Norfolk, which is finishing construction on a $750 million permanent resort just about 10 minutes away from Rivers Casino Portsmouth.