The gaming landscape in Virginia is witnessing remarkable growth, as the latest report from the Virginia Lottery reveals record-breaking gaming revenue from the state’s three commercial casinos. With Hard Rock Hotel & Casino Temporary Bristol, Rivers Casino Portsmouth, and Caesars Danville contributing to this surge, May’s total gaming revenue soared to an impressive $45.5 million, marking a $10 million increase from April.
Virginia’s Evolving Casino Market:
Virginia’s casino market, which only opened last year, is experiencing rapid expansion. The presence of three venues, including Rivers Casino Portsmouth, the temporary Hard Rock Bristol, and Caesars Danville, has already set the stage for a thriving gaming industry.
Rivers Casino Portsmouth Dominates:
In May, Rivers Casino Portsmouth emerged as a frontrunner, collecting a substantial $20.6 million in revenue. The breakdown includes $13.9 million from its 1,416 slot machines and an additional $6.8 million from 81 table games. The casino’s impressive performance translated to $3.4 million in taxes generated, contributing significantly to the state’s coffers.
Hard Rock Bristol’s Solid Contribution:
Hard Rock Hotel & Casino Temporary Bristol, though a temporary establishment, played a pivotal role by generating $12.9 million in gaming revenue. Of this total, $11 million came from slots, and $1.9 million resulted from table games. With 921 slot machines and 29 table games, the Bristol Casino showcased its appeal to patrons.
Caesars Danville’s Swift Impact:
Caesars Entertainment’s temporary casino in Danville entered the scene with a bang, recording $11.9 million in revenue in just two weeks since its May 15 opening. The majority of this revenue, over $10.1 million, stemmed from slot machines, while table play contributed around $1.7 million. Danville, in return, reaped the benefits, receiving $715,000 through the state tax and an additional $300,000 in revenue from its development agreement with Caesars.
Tax Contributions and Economic Impact:
The combined efforts of the three casinos translated into a notable $8.2 million in taxes paid to the state in May alone, marking a 20% increase compared to April. Beyond the tax revenue, the economic impact on the cities involved is substantial, with Danville alone gaining approximately $1 million in revenue within the first two weeks of Caesars’ operation.
Virginia’s burgeoning casino industry, as evidenced by the record-breaking May revenue, underscores the state’s potential as a key player in the gaming sector. With several new casinos anticipated in the coming years, Virginia is on track to become a prominent destination for gaming enthusiasts, contributing both economically and culturally to its communities.