Three Virginia Casinos Generated $57 Million In July Revenue
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The Virginia Lottery announced Tuesday that the state’s three operational retail casinos generated $57.3 million in adjusted gaming revenue in July, creating $10.3 million in tax revenue.
Rivers Casino Portsmouth paced the state’s casinos by generating $22.4 million in revenue in July, with $14.3 million coming from slots. The other $8.1 million came from table games.
Caesars Virginia, which is in Danville, reported $21.4 million in revenue. The relatively new location — it opened in May — has done well to quickly compete financially with Rivers Casino. Caesars Virginia hasn’t eclipsed Rivers in monthly proceeds yet, but the adjusted revenue gap between the two narrowed from $1.6 million to $1 million from June to July. Caesars’ location on the Virginia-North Carolina border has attracted some North Carolina residents.
Hard Rock Bristol, which sits on the Tennessee-Virginia border, reported $13.5 million in monthly revenue in July.
As for tax revenue, Rivers Casino generated $4 million for the state, Caesars Virginia created $3.9, and Hard Rock Bristol generated $2.4 million.
Other Virginia casino progress
Virginia’s legislation carves out the possibility for five cities to host casinos. Stakeholders in the two cities without open casinos, Norfolk and Richmond, are in the process of attempting to see them developed.
In Richmond, a 2021 voter referendum to bring a casino to the city failed. Another referendum is expected to be held in November thanks to a recent legal ruling, although a legal challenge to the 2023 referendum has emerged. If the 2023 referendum is held in November, it still needs to be approved by voters for the project to move forward.
As for Norfolk, a referendum for HeadWaters Casino and Resort to be built was approved in 2020. The city of Norfolk and the Pamunkey Indian Tribe are working together on the project, which has proven to be challenging at times. There’s hope that a timeline for construction and launch will be shared soon.
Despite a budding retail casino market, Virginia doesn’t have legal online casinos.
