The Virginia Lottery released its report on casino gaming activity for the month of October 2023. There are three operating casinos in Virginia: Hard Rock Hotel & Casino Bristol, Rivers Casino Portsmouth, and Caesars Virginia.
During October, gaming revenues from Virginia casinos totaled $49.6m. Virginia law assesses a graduated tax on a casino’s AGR, or wagers minus winnings, and $9.1m in taxes were paid to the Gaming Proceeds Fund.
The Bristol Casino, future home of Hard Rock, generated more than $215m in adjusted gaming revenue during October,16 months after opening.
Its 896 slots brought in $10.32m, around 81 per cent of its total, whilst its 29 table games increased to $2.35m.
Rivers Casino Portsmouth generated $14.3m from slots and $5.7m from its 81 table games, giving a total of $20.03m in October.
The temporary Caesars Virginia facility in Danville generated $12.6m revenue from its 822 slots and nearly $4.25m from its 33 table games, making a total of $16.84m.
The Virginia Lottery Board approved the casino license for HR Bristol in April 2022, and the temporary facility on the site of the former Bristol Mall opened to the public on 8 July 2022. The Virginia Lottery Board approved the casino license for Rivers Casino Portsmouth in November 2022 and the casino opened to the public on 23 January 2023. The Virginia Lottery Board approved the casino license for Caesars Virginia in April 2023 and the temporary facility in Danville opened to the public on 15 May 2023.
Of the state tax on casino AGR, the statute specifies distributions to the Problem Gambling Treatment and Support Fund, the Family and Children’s Trust Fund, and the host city. For the Bristol casino, statute specifies the portion of taxes reserved for the host city go to the Regional Improvement Commission (RIC).