In September, the Virginia Lottery released its report on the gaming activities of the state’s casinos, including Hard Rock Hotel & Casino Temporary Bristol, Rivers Casino Portsmouth, and Caesars Virginia. Despite the previous month’s performance, all three casinos reported month-over-month revenue declines.
Virginia’s Casino Revenue in September:
Virginia’s casino gaming revenue for September amounted to $51.9 million. While this is a notable sum, it’s essential to highlight that all three of the state’s casinos reported declines in revenue compared to the previous month.
Slot Revenue: Slot machines generated $38.9 million, representing approximately 75% of the total adjusted revenues for the state.
Table Games Revenue: Table games contributed $12.9 million, making up the remaining 25% of the total adjusted revenues.
Revenue Breakdown by Casino:
Rivers Casino Portsmouth: In September, this casino reported $20 million in revenue. The revenue came from a combination of $14 million from its 1,461 slot machines and $6 million from its 81 table games.
Hard Rock Hotel & Casino Temporary Bristol: This establishment generated $12.7 million in revenue. Of this amount, $10.6 million was derived from its 915 slot machines, while $2 million came from its 29 table games.
Caesars Virginia: In September, this temporary casino reported over $19.1 million in adjusted gross gaming revenue. The casino featured 818 slot machines and 25 table games.
The Path to Permanent Facilities:
Each of these casinos is on a journey towards establishing permanent facilities, contributing to the development and growth of Virginia’s casino landscape.
Caesars Virginia: The construction of the permanent venue is underway after groundbreaking in August. The $650 million project is expected to generate substantial tax revenue for the city. It will feature a 500-room hotel, a wide variety of gaming options, a poker room, sportsbook, and other amenities, becoming a significant contributor to the local economy.
Hard Rock Hotel & Casino Bristol: This establishment is set to open in the summer of 2024, featuring impressive amenities such as a 3,200-seat performance venue and a 20,000-person capacity outdoor entertainment venue. The casino, operating around the clock, is anticipated to create numerous jobs and offer a range of accommodations and entertainment options.
Despite experiencing a slight dip in monthly revenues, Virginia’s casinos continue to be important contributors to the state’s economy. The ongoing development of these establishments and the construction of permanent facilities signal a promising future for the casino industry in Virginia, attracting visitors and boosting the local economy.