Portsmouth’s casino made $23.6M in revenue in March
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PORTSMOUTH, Va. (WAVY) — Rivers Casino Portsmouth saw $23.6 million in revenue this March, the latest monthly gaming report from the Virginia Lottery shows.
That’s down about a million dollars from February’s report, which showed $24,661,600.84 for the new casino on Victory Boulevard that just opened in late January.
March’s earnings included $15.9 million from slots and $7.6 million from table games.
About $1.4 million of March’s revenue will go to the City of Portsmouth in taxes, the report shows. Portsmouth city leaders are expecting about $16 million in tax revenue for 2023, according to the city’s fiscal year 2024 budget, but are expecting local revenues from the casino to decline over the next 18 months.
They expect local tax revenue to eventually stabilize around $10 million per year, with annual growth after that.
The only other Virginia casino open at this time, HR Bristol, meanwhile saw $13.8 million in revenue during March.
