Virginia casinos generate $53 million in January revenue

Virginia’s casino industry saw gaming revenues reach nearly $53 million in January, according to data released by the Virginia Lottery. The three operational casinos – Hard Rock Hotel & Casino Temporary Bristol, Rivers Casino Portsmouth, and Caesars Virginia – collectively reported $52.9 million in revenue for the month. 

Of the total, slot machines accounted for $37.9 million, while table games brought in $14.9 million in earnings. 

Rivers Casino Portsmouth emerged as the top performer, generating $23.5 million in revenue. Virginia’s first permanent casino, which opened its doors in January 2023, boasts 1,466 slot machines and 81 table games. While slot machines brought in $15.66 million, the table games earned $7.88 million.

Caesars Virginia, with its temporary facility in Danville operational since May 2023, reported $17.2 million in adjusted gross gaming revenue comprising $12.34 million in revenue from its 808 slots and almost $4.9 million from its 33 table games. Its permanent resort casino is slated to open late this year.

Hard Rock Hotel & Casino Temporary Bristol, operating since July 2022, reported $12 million in revenue for January. Virginia’s first casino generated about $9.9 million from its 911 slots and nearly $2.17 million from its 29 table games. 

January’s gaming revenues represented a decline of 9.66% compared to December 2023’s $58.5 million. Nonetheless, the casinos contributed $9.5 million in taxes to the state, with host cities receiving their respective shares.

Portsmouth received $1.4 million from Rivers Casino Portsmouth’s revenue, while Danville garnered $1.03 million from Caesars Virginia. Additionally, the Bristol casino contributed about $724,677 to the Regional Improvement Commission, benefiting Southwest Virginia.

The casino industry in Virginia continues to expand, with the ongoing construction of the permanent Caesars Virginia and Hard Rock Hotel & Casino Bristol underway. Moreover, plans for future developments, including the $500 million HeadWaters Resort & Casino in Norfolk, indicate further growth prospects for the state’s gaming sector.

The developers for HeadWaters — a partnership between the King William-brd Pamunkey Indian Tribe and Tennessee billionaire Jon Yarbrough — have submitted new plans to the city, aiming to start continuous, rather than phased, construction in spring 2024.

However, the landscape is not without challenges, as evidenced by Richmond voters’ rejection of a proposed casino for the second time in November. Nevertheless, lawmakers in Petersburg are exploring avenues for a potential referendum in their city.