In its first year, Rivers Casino has provided more tax money directly into the City of Portsmouth than originally projected. Roughly $18.3 million has gone directly into the city’s general fund since the casino’s grand opening on January 23, 2023, according to Brian Donahue, the city’s economic development director.
That breaks down to roughly $15.4 million from the city’s share of gaming tax revenue, $2.2 million in real estate tax, and roughly $700,000 in meals, admissions, and business taxes.
Going back to 2021, the casino development team touted that the city could expect $16 million in taxes annually…
However, one economist warns those projections might need to be modified considering expected competition has yet to materialize and the lack of a hotel.
