Portsmouth Economic Development Authority Chairman Ray A. To avoid conflicts of interest, public-sector employees, elected officials at any/all levels of government, their spouses, dependents, and immediate family members are ineligible to participate as investors or owners.
Having successfully championed minority investment programs for its casinos in other markets, Rush Street Gaming intends to work collaboratively with Virginia Lottery regulators and the City of Portsmouth Economic Development Authority to safeguard a transparent process. This will help ensure that the transformative economic impact of Rivers Casino Portsmouth starts and stays at home in Greater Portsmouth. Rivers Casino will also maintain a preference for Portsmouth residents. Rivers Casino Portsmouth will solicit minority participation for 5% of the equity contribution or $5 million, whichever is greater, from minority-owned businesses or private investors who are minorities and, as required by securities laws, are accredited investors. Portsmouth, VA, and Chicago, IL-September 3, 2020-Portsmouth’s casino development partner, Rush Street Gaming, is making good on its earlier commitment to pursue local, private-sector minority owners for the new casino planned for Victory Boulevard.
