The Old Port Tavern in Portland will close on New Years Eve. Credit: CBS 13

PORTLAND — A popular Old Port hot spot will pour its last drinks on New Year’s Eve after 50 years in business.

The Old Port Tavern on Moulton Street in Portland is set to close Saturday night, the Portland Press Herald reports.

The bar is known as one of the city’s go-to places for drinks, steaks, and billiards.

The owners have decided to retire, according to the Portland Press Herald. The bar opened in 1973 in the basement of the historic Mariners Church Building.