Virginia’s three casinos reported a combined adjusted gross revenue for September of just over $51.9 million, a drop of 5.7% from August (about $55.06 million). September was the second straight month of a drop in casino adjusted gross revenue (AGR) in the commonwealth. To date, July stands as the casino high water mark for AGR — about $57.3 million.
The decrease in September from the previous month was due mainly to lower table games revenue. In September, table games generated about $12.9 million, which was a drop of 14.3% from August ($15.07 million). Slots revenue had a smaller dip. In September, the slots revenue was $38.99 million, down 2.5% from August ($39.98 million).
September taxes from the casinos were $9,344,186, down 5.7% from August ($9,910,449). There are no Virginia online casinos.
Casino Industry Still in Early Stages
So far, the commonwealth has three casinos — Hard Rock Bristol (opened July 8, 2022); Rivers Casino Portsmouth (opened Jan. 23, 2023), and Caesars Virginia in Danville (opened May 15, 2023). The Danville casino features a Caesars Sportsbook Virginia retail location. The bricks-and-mortar casino industry is still in its early stages in Virginia.
Of the three current casinos, Rivers Casino Portsmouth is a permanent facility with an array of restaurants, and a hotel is planned. The other two casinos are temporary facilities that will eventually be replaced by grander and larger permanent casino-hotels.
The September casino-by-casino breakdown was (by AGR): Rivers Casino Portsmouth, $20.05 million; Caesars Virginia, $19.14 million, and Hard Rock Bristol, $12.72 million. Each casino’s tax contribution was: Rivers Casino Portsmouth $3,609,880, Caesars Virginia $3,445,452, Hard Rock Bristol $2,288,854. Tax proceeds are 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.
Virginia sports betting reported $319 million in handle in August and $27.9 million in revenue. September numbers will be reported later this month.