A new Virginia casino joined the two existing establishments that have been operating within the state. The result was a significant boost in revenue.
Despite being open just a couple of weeks in May, Caesars Danville Casino is already posting revenue figures similar to the other two Virginia casinos, HR Bristol and Rivers Casino Portsmouth.
The three combined to bring in $45 million in adjusted gross revenue in May, a cool $10 million over April’s $35 million.
Rivers Casino Portsmouth earns the most revenue in May
Until recently, Virginia was one of the only US states without a commercial, nor a tribal casino. Rivers Casino was the first to debut in January, followed soon by HR Bristol. There are expected to be at least five Virginia casinos in operation within the next couple of years.
In May, Rivers Casino Portsmouth collected $13.9 million in slot machine adjusted gross revenue (AGR). It added $6.8 million from table games, which totaled $20.6 million in overall revenue. It was the most in the state.
Slot machine revenue was virtually the same in May as it was in April, but table games declined by $1 million at the location.
HR Bristol produced $12.9 million in AGR in May. Just over $11 million came from slots play, while $1.9 million was collected from the tables. Overall, revenue fell about $1 million in May compared to April.
Caesars Virginia generated $11.9 million since opening on May 15. Over $10.1 million came from slot machines, while table play accounted for around $1.7 million.
The three casinos combined for $8.2 million in taxes paid to the state in May, over 20% more than the month prior.
Caesars Virginia on pace to become top revenue casino
Despite opening on May 15 and only having half of the month to build revenue, Caesars Virginia collected around 92% of HR Bristol’s total revenue and about 58% of Rivers Casino Portsmouth’s earnings.
Caesars is in range to become the top casino revenue generator with about 650 fewer slot machines and 56 fewer table games than Rivers.
Caesars accounted for 26.2% of the total adjusted gaming revenue, which puts it on pace to produce the same amount of revenue within a full month as HR Bristol and Rivers Casino combined.
