Virginia Casino Revenue Rises In June With Full Month at Caesars

Virginia Casino Revenue Rises In June With Full Month at Caesars
Fact Checked by Jim Tomlin

Virginia’s three casinos posted $52.19 million in adjusted gaming revenue in June, according to the Virginia Lottery.

Virginia’s nascent casino industry had the commonwealth’s third casino, Caesars Virginia in Danville – from the company that offers the Caesars Virginia Sportsbook – report its first full month of financial results for the month of June.

Caesars Virginia opened May 15, 2023. That facility joined the Hard Rock (HR) Bristol, which opened in July 2022, and Rivers Casino Portsmouth, which opened in January 2023.

The exact total of $52,187,669 in June casino adjusted gross revenue was up 14.8% from May ($45,471,803).

The three casinos combined for $9.39 million in taxes with the proceeds being distributed to the host cities (6%); to the Problem Gambling Treatment and Support Fund (0.8%), and to a Family and Children’s Trust Fund (0.2%). The remaining money is available in the Gaming Proceeds Fund.

There are no Virginia online casinos.

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Breakdown of June Virginia Casino Revenue

Of the three casinos, Rivers Casino Portsmouth had the largest AGR for June, about $20.54 million.

Caesars Virginia, in its first full month, was second with AGR of about $18.94 million. HR Bristol had AGR of about $12.72 million.

Not surprisingly, the biggest proportion of casino winnings came from slot machine play. Slots accounted for about $38.54 million (or about 74%) of the total AGR, and table games contributed about $13.73 million.

Still, that table games revenue was a 32% jump from about $10.4 million in May.

The casino industry is still evolving in Virginia. Current temporary casinos will eventually be replaced by grander and larger permanent casino-hotels. And a fourth casino is planned for Norfolk.

Possibilities for a casino in the Richmond-Petersburg area continue to be debated.

Meanwhile, the state has had a robust Virginia online sports betting industry in operation since January 2021.

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Author

Bill Ordine was a reporter and editor in news and sports for the Philadelphia Inquirer and Baltimore Sun for 25 years, and was a lead reporter on a team that was a finalist for the Pulitzer Prize in Breaking News. Bill started reporting on casinos and gaming shortly after Atlantic City’s first gambling halls opened and wrote a syndicated column on travel to casino destinations for 10 years. He covered the World Series of Poker for a decade and his articles on gaming have appeared in many major U.S. newspapers, such as the Los Angeles Times, Chicago Tribune, Miami Herald and others

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