January Virginia Casino Revenue Reaches All-Time High
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.
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.