For the second straight month, casino revenue in Virginia topped the $60 million mark. Just barely.
Though a bit off of March’s record-setting $65 million haul, casinos generated $60.1 million in revenue last month, the second highest in Virginia’s short casino history. The amount was significantly more than the $35 million collected in April 2023, when just two casinos were operating in the state.
Last month’s tax bill was $10.8 million.
Virginia Should Have 3 Permanent Casinos Operating by Year’s End
There are three casinos currently operating in the state, two of them in temporary facilities. Virginia online casinos remain illegal.
As it has in previous months, Rivers Casino Portsmouth led the way in April. It collected $26.4 million in adjusted gross revenue (AGR), with $18.4 million of that coming from the roughly 1,450 slots on its casino floor. The remaining $8 million was derived from its 81 table games.
The temporary Caesars Casino in Danville generated more than $19.7 million AGR in April. Nearly $14.5 million came from 820 slots and $5.3 million from 33 table games. Caesars officials confirmed in an earnings call last week that its permanent Danville location will open in December.
Also last week, its contract with the city was retooled. According to the Danville Register & Bee, changes included “an increase in the casino project’s cost to $750 million and language allowing the company to hire fewer workers than initially promised.” It also included “elimination of a promised separate entertainment venue,” which instead would “occupy a 40,000-square-foot conference center included in the project.”
Hard Rock Bristol, which also plans to move into its permanent facility by year’s end, brought in more than $13.9 million in April. Just over $11 million AGR came from its 903 slots and $2.9 million from 29 table games.
Host Cities Split $3.6 Million in Casino Tax Funds
The state’s haul of $10.8 million in April tax revenue breaks down as follows:
- Host cities split a little more than $3.6 million.
- Just over $86,500 went to the Problem Gambling Treatment and Support Fund.
- More than $21,600 went to the Family and Children’s Trust Fund.
- The rest, around $7.1 million, went to the state’s Gaming Proceeds Fund.
Tax revenue should continue to rise, especially if all five casinos approved by lawmakers open their doors over the next few years.
The proposed casino in Petersburg appears headed for a November referendum vote, though there’s been some controversy. The Petersburg City Council recently approved the Cordish Companies/Bruce Smith Enterprises to operate a casino in the city after telling state lawmakers that Bally’s would be given the contract.
The casino project in the final approved Virginia city, Norfolk, remains stalled.
