Rivers Casino Portsmouth Continues Driving Regional Growth With 400-Unit Housing Project

Rivers Casino Portsmouth is making good on its promise to boost the city’s economy, generating more than $40 million in local tax revenue, funneling contracts to local businesses, and becoming one of Portsmouth’s largest employers since opening in January 2023.

The gaming venue owned and operated by Chicago-based Rush Street Gaming continues to attract nearby investments, with the latest being a nearly 400-unit residential complex. The housing project is proposed for the 30.5-acre wooded lot at 109 Missy Elliott Avenue, just north of Rivers Casino Portsmouth across Interstate 264.

The Portsmouth City Council on Tuesday (July 14) unanimously approved the 394-unit concept with a 7-0 vote. Planning documents show that the blueprint includes 124 two-bedroom condos, 126 townhouses, and 144 multifamily dwellings. Prices are to range from the low $200Ks to $300K.

Housing Boom

Real estate developers are bullish on the immediate surrounding areas of Rivers Casino Portsmouth.

The residential plan approved this week follows a 300-unit design for a property at Elliott Avenue and Missy Elliott Avenue that the Portsmouth City Council authorized in January. The development just east across Missy Elliott Ave. from the casino parking is to include 140 townhouses and 160 multifamily units.

In addition to the residential boom, Rivers itself is amid construction of a $65 million, 106-key hotel featuring 32 suites. The hotel, called The Landing, is expected to open next year, before Boyd Gaming finishes its $750 million casino resort and hotel in nearby Norfolk.

During a topping-off ceremony in May, city officials, including Brian Donahue, Portsmouth’s director of economic development, said the Rivers hotel highlights Portsmouth’s revival as a destination and premier place to live.  

“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 at the time.

In 2025, Portsmouth officials report that the city saw $333 million in local investments, 302 new businesses formed, and construction started on more than 1,600 residences.

Casino Performance

Rush Street Gaming invested $340 million to open the casino that today has 1,416 slot machines, 90 live dealer table games, and a BetRivers Sportsbook. The venue also features The Event Center, an 11,000-square-foot multiuse venue, five full-service restaurants, a grab-n-go eatery, and a Starbucks.

Gross gaming revenue (GGR) at Rivers Portsmouth has increased annually. Rivers reported GGR of $250 million in its debut year. The casino’s win climbed to $309 million in 2024 and to $316.3 million last year.

January through June 2026, Rivers Casino Portsmouth reported GGR of $161.3 million, putting the venue on pace to again grow revenue year-over-year.