Revenue Exceeds $50 Million At Virginia Casinos In January

Written By Phil West on February 29, 2024 - Last Updated on March 5, 2024
A picture of a roulette wheel for a story about Virginia's January casino revenue

January was another banner month for Virginia’s three casinos. After adjusted revenue in December reached a record $58.5 million, the casinos combined for $52.9 million in January.

Rivers Casino Portsmouth led the way in January revenue, according to data released by the Virginia Lottery. The state’s only permanent-facility casino, which celebrated its year anniversary last week, accounted for nearly $23.5 million in adjusted gross revenue in January. About $15.7 million came from its 1,466 slots, with the remaining $7.88 million coming from its 81 table games.

Caesars Danville Casino, currently operating in a temporary facility ahead of its permanent home opening later this year, added a little more than $12.3 million in revenue from its 808 slots and almost $4.9 million from its 33 table games, for a total of roughly $17 million.

Bristol Casino: Future Home of Hard Rock, another temporary casino ahead of a permanent version to arrive later this year, brought in around $12 million in January. Nearly $10 million came from its 911 slots, with almost $2.17 million from its 29 table games.

State received $9.5M in tax revenue in January

Currently, there is no real effort being made by lawmakers to add Virginia online casinos. Lawmakers in the commonwealth’s closest neighbor, Maryland, are debating two bills that would legalize iGaming. There is optimism that Maryland residents will be able to vote on a proposal in November.

A full 6% of the money from Virginia casino gambling goes to the host cities of the three casinos. In January, that meant the Hard Rock brought in around $725,000 for Bristol, Rivers Casino brought in $1.4 million for Portsmouth and Caesars brought in $1.03 million for Danville.

Danville may invest some of its money from Caesars on two capital projects. The Danville City Council is expected to vote on the proposal next week.

Virginia law decrees that 97.5% of tax revenue from casino activity is allocated to the state’s General Fund. Additionally, casino tax revenue is also earmarked for the Problem Gambling Treatment and Support Fund. Around 0.8% of the total monthly tax is used to combat problem gambling. In January, around $76,000 went to the fund. Approximately 0.2% goes to the Family and Children’s Trust Fund. For January, it was more than $19,000.

Casino project in Norfolk still awaiting approval

A planned fourth casino, HeadWaters Casino in Norfolk, is still on hold pending the city’s Architectural Review Board process. Developers must clear that hurdle plus several others before the Norfolk City Council approves the project.

Per terms of the November 2020 referendum that Virginia voters approved, at least part of the casino must be operational by November 2025. It’s a deadline that HeadWaters representative Jay Smith said could be met provided approval comes this spring.

State Sen. David Marsden also sought legislative approval of a plan to bring a casino to Tysons Corner along the Silver Line connecting Washington, D.C. to Dulles International Airport and points west.

That effort has been tabled until next year’s legislative session.

Photo by PlayVirginia
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Phil West

Phil West is a longtime journalist based in Austin, Texas, whose bylines have appeared in The Daily Dot, Nautilus, Pro Soccer USA, Howler, Los Angeles Times, Seattle Times, Philadelphia Inquirer, San Antonio Express-News, Austin American-Statesman, and Austin Chronicle. He has also written two books about soccer.

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