The Virginia Lottery reported the first win and loss totals in VA casino history on Monday. The young industry now has its start with $11.7 million in revenue, according to the July 2022 Virginia casino report.
Bristol Casino, the future home of Hard Rock Casino and Hotel Bristol, was the only venue in operation for the month. The temporary casino opened July 8 at the site of the former Bristol Mall.
Slot machines are the bread-and-butter of any casino and the temporary Bristol Casino is no exception. The venue’s 870 slots collected $10.2 million of the $11.7 million in July revenue.
Bristol Casino’s temporary Hard Rock site has 21 table games. Once winnings were paid out, the games grossed about $1.5 million for the casino.
Altogether, slots outearn table games by roughly a 10-to-1 margin at Virginia’s first casino.
From there, the state collects its share of the proceeds.
July 2022 Virginia casino taxes
We can get an idea of just how important Virginia casinos will be for the state economy.
Even though July numbers feature just one temporary casino and three weeks of betting, that was enough to generate $2.1 million for the state of Virginia.
- About $703,000 (6%) of casino profits goes to the Regional Improvement Commission. Each region with a casino can direct the money toward education, transportation and public safety.
- The state uses another $16,873 for gambling treatment programs (0.8%)
- Finally, the state uses $2,218 for the Family and Children’s Trust Fund (0.2%). The fund focuses on family violence treatment and prevention.
That leaves about $1.4 million for the Gaming Proceeds Fund. The Virginia General Assembly uses the fund to address public school construction, renovations or upgrades.
Much larger Virginia casino revenue numbers ahead
July Virginia casino numbers are just the tip of the iceberg because four cities have a green light for massive casino projects. Plus, Richmond could become a fifth Virginia casino city if voters approve a casino in 2023.
Estimates can and will change as construction continues, but altogether, the casino projects add up to more than a $2.5 billion investment in Virginia.
From high to low:
- $650 million — Caesars Danville Casino (just broke ground).
- $565 million — One Resort + Casino in Richmond (if approved)
- $500 million — HeadWaters Resort and Casino in Norfolk. They’ll open a temporary casino first.
- $500 million — Hard Rock Bristol Casino and Hotel
- $300 million — Rivers Portsmouth Casino Resort