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Hampton Roads operator of Downtown and Midtown tunnels sold in $2B+ deal
Elizabeth River Crossings HoldCo LLC, the operator of the Downtown and Midtown tunnels that run between Norfolk and Portsmouth, has been sold to Abertis Infraestructuras S.A. and Manulife Investment Management Ltd., on behalf of John Hancock Life Insurance Co., for more than $2 billion. Elizabeth River Crossings operates four tunnels and a highway in the […]
Initial jobless claims dropped 16.2% last week
The number of initial jobless claims in Virginia dropped by 16.2% last week, the Virginia Employment Commission reported Thursday, and the number of continued claims was three-quarters lower than its May 16 filing week peak. For the week ending Oct. 31, 10,350 Virginians filed initial claims for unemployment, a decrease of 2,002 from the previous […]
Portsmouth casino to solicit minority ownership
Portsmouth’s casino development partner, Rush Street Gaming, announced Thursday that it will offer 5% or $5 million ownership (whichever is greater) of the proposed $300 million Rivers Casino Portsmouth to a local minority-owned business or private investor who is a person of color. “Rush Street has a track record of including minority participation in their […]
Portsmouth, Rush Street Gaming unveil casino renderings
After receiving pre-certification from the Virginia Lottery Board last week to operate a Virginia casino, Rush Street Gaming on Tuesday revealed more details about the proposed $300 million Rivers Casino Portsmouth, including the first renderings of the gaming, conference and hotel complex. The 400,000-square-foot Rivers Casino Portsmouth will include slot machines, table games and poker, [&hellip[...]
Va. Lottery Board advances Portsmouth casino
The city of Portsmouth announced Wednesday that its preferred casino gaming partner, Chicago-based Rush Street Gaming, has been pre-certified by the Virginia Lottery Board to operate a Virginia casino. The pre-certification is necessary to move forward with a local gaming referendum in November. “We are grateful for the Lottery Board’s diligence on this matter and […]
Coffee roasting company to build Suffolk distribution center
Massimo Zanetti Beverage USA Inc. (MZB-USA) announced Thursday it will build a 355,933-square-foot distribution center in Suffolk to support its headquarters and main coffee roasting operations in Portsmouth. The distribution center will be located in the Virginia Port Logistics Park, which is located approximately 30 miles from the Port of Virginia. Construction on the warehouse […]
TowneBank promotes exec to senior VP
Portsmouth-based TowneBank promoted Keith Robinson to senior vice president and indirect sales manager, the bank announced Wednesday. Robinson has been with the bank for 18 years and previously led dealer services and indirect lending marketing and sales in the Hampton Roads, Richmond and North Carolina markets. He also previously worked for TowneBank Mortgage (a subsidiary […]
“Port host communities” receive revitalization funds
The General Assembly allocated $1 million in grants to redevelop port-related properties in Virginia’s “port host communities,” including Newport News, Norfolk and Portsmouth, Gov. Ralph Northam announced Tuesday. The goal of the funding is to enable timely redevelopment of port structures for economic development and employment growth, according to the Department of Housing and Community [&[...]
Casino operators go head-to-head in Bristol and Richmond
Casino operators are already maneuvering into position as they wait for state legislators to legalize gaming. The stakes are high, and in at least two regions multiple operators are competing to cash in. In Richmond, the Pamunkey Indian Tribe has announced a $350 million casino within city limits, while the Colonial Downs Group and parent […]
Portsmouth industrial contractor buys parcel for $2.55M
Portsmouth-based general contracting firm W.F Magann Corp. purchased the final four acres of what was formerly a 44-acre major industrial parcel in Portsmouth for $2.55 million, real estate company Colliers International announced this week. Magann specializes in heavy marine, industrial and concrete construction. The site at 3340 W. Norfolk Rd. is located one mile from […]
