Last year ended with a bang at Virginia’s three operating casinos. They reported a whopping $58.5 million in adjusted gross revenue in December, which is now the record. The top monthly revenue had been $57 million in July.
December revenue was roughly $7 million more than in November, with casinos paying a state tax of $11.7 million in the final month of 2023.
Rivers leads the way in December revenue
The three Virginia casinos – Hard Rock Bristol, Rivers Casino Portsmouth and Caesars Virginia in Danville – have seen combined revenue increase over the last two months, growing from $49.6 million in October. No other casino will open in 2024, and Virginia online casinos remain illegal.
In December 2022, the state had just one fully operational casino (Hard Rock Bristol), so year-over-year comparisons are not applicable.
Virginia regulators approved the temporary license for Caesars Virginia last April, and the Danville venue opened for business on May 15. Rivers Casino Portsmouth opened nearly a year ago, on Jan. 23.
Rivers collected the most adjusted gross revenue in December, with Caesars not too far behind.
- Rivers Casino Portsmouth: $23.8 million
- Caesars Virginia: $19.7 million
- Hard Rock Bristol: $14.9 million
Portsmouth has 1,547 combined slot machines and table games, while HR Bristol has 940 and Caesars has 841, according to the Virginia Lottery.
Cities housing casinos split nearly $4M in December
Virginia law mandates that the bulk of tax revenue from casino activity is allocated to the state’s General Fund (97.5%). The balance of 2.5% goes to Virginia’s Problem Gambling Treatment and Support Fund.
The three casinos remained in the same order as to taxes paid in December.
- Rivers Casino Portsmouth: $5.4 million (up from $5 million in November)
- Caesars Virginia: $3.5 million (up from $3.2 million in November)
- Hard Rock Bristol: $2.6 million (up from $2.2 million in November)
Of the $11.7 million paid in taxes, $3.7 million was sent to local governments that host the casinos in Portsmouth, Bristol and Danville.
Most of the revenue at Virginia casinos comes from slot machines
Virginia casino-goers love their slot machines, and it continues to show. The amount of slots play, however, dipped slightly in December compared to November. Last month, 73.1% of all revenue from casino activity stemmed from slot machines. That’s a bit down from November’s 75%. It was more in line with October’s 73.4%.
In all, $42.8 million was reported as revenue from slot machines at the three casinos. Around $15.7 million came from table games in December.
Nearly $94,000 was paid to the Problem Gambling Treatment and Support Fund and $23,000 was paid into the VA Family and Children’s Trust Fund.
