January Virginia Casino Revenue Reaches All-Time High

Written By Adam Hensley on February 15, 2023
January Virginia casino revenue

January Virginia casino revenue and tax totals are up from December — thanks in part to the state’s newest venue.

Virginia casino revenue jumped to $22.5 million in January. That stands as a new single-month high. The growth makes sense because Virginia has two casinos now.

January’s numbers not only included Bristol Casino — Future Home of Hard Rock, but took into account a week’s worth of action at the new Rivers Casino Portsmouth.

Bristol Casino — Future Home of Hard Rock led the way with $13.4 million in adjusted gross revenue during January. The Bristol location’s revenue totals fell by roughly $1.4 million compared to December 2022. Expect bigger numbers when the full Hard Rock casino opens in about a year.

The state’s newest addition, Rivers Casino Portsmouth, is the state’s first full-service permanent casino. It produced an adjusted gross revenue of about $9 million.

That isn’t a full-month total, either. The Portsmouth casino opened on Jan. 23 after officially receiving its license just a few months ago in November.

Slots drive January Virginia casino revenue

Slots accounted for most of the adjusted gaming revenue at both Virginia casinos.

Looking specifically at Bristol Casino — Future Home of Hard Rock, roughly $10.6 million in revenue came from slots. Table game revenue came out to about $2.8 million.

That $10.6 million in slot revenue surpassed November’s $10.4 million mark for the Bristol location. However, it still sits behind December’s record of $12.1 million and both August ($11.4 million), September ($11.3 million) and October ($11.2 million). It’s nothing out of the ordinary, as Virginians now have a second casino option to play slots.

It’s worth noting that Bristol’s table game revenue for January tied for the second-highest total at that location in a single month. October’s mark of $2.9 million still stands as No. 1.

Portsmouth’s totals weren’t as high with only a week of numbers to report. Even so, slots proved to be a favorite at the new Portsmouth location. The new casino’s brief January operation tallied $7.5 million in revenue from slots. Table games accounted for $1.6 million in revenue.

Statewide, slot revenue came out to $18.1 million. Table games produced $4.4 million in revenue as well.

Month-to-month look at January Virginia casino revenue totals

Since its first casino opened in July last year, Virginia’s total revenue from gambling officially surpassed the $100 million mark.

Total gambling revenue

  • July — $11,717,478
  • August — $14,279,379
  • September — $14,305,177
  • October — $14,144,160
  • November — $12,650,361
  • December — $14,879,037
  • January (new) — $22,473,836
  • Total — $104,449,428

Here’s a look at how slot machine and table game revenue looks over time. With the addition of the Portsmouth casino, the state set new single-month records in both categories.

Slot machine revenue

  • July — $10.2 million
  • August — $11.4 million
  • September — $11.3 million
  • October — $11.2 million
  • November — $10.4 million
  • December — $12.1 million
  • January — $18.1 million

Table game revenue

  • July — $1.5 million
  • August — $2.8 million
  • September — $3 million
  • October — $2.9 million
  • November — $2.2 million
  • December — $2.7 million
  • January — $4.4 million

January Virginia casino revenue generated more than $3 million in taxes

January’s $3 million in total taxes ranks above December 2022’s $2.7 million mark, which is a positive sign for the state.

The Regional Improvement Commission took roughly 6% of the adjusted gross revenue, which amounted to $1.01 million in taxes. That commission guides money toward public safety, transportation and education.

Additionally, the Problem Gambling Treatment and Support Fund took $24,247 in taxes (0.8% of total taxes). The Family and Children’s Trust Fund collected $6,062 (0.2%).

The remaining $2 million in taxes now sits in the state’s Gaming Proceeds Fund. Virginia’s laws direct gambling revenue toward the state’s K-12 education program.

Will more Virginia casinos open soon?

In Norfolk, the HeadWaters Resort & Casino recently received the green light from the city council. The permanent casino should open in 18-24 months, but a temporary one will open sooner.

A Caesars casino project in Danville is underway as well. Early forecasts last year slated construction to finish in 2024.

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Adam Hensley

Adam Hensley is a journalist from Des Moines, Iowa. His byline has appeared in the Associated Press, Sports Illustrated and sites within the USA Today Network. Hensley graduated from the University of Iowa in 2019 and spent his college career working for the Daily Iowan’s sports department, both as an editor and reporter.

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