The Virginia Lottery recently released its comprehensive report on casino gaming activity for October, encompassing Hard Rock Hotel & Casino Temporary Bristol, Rivers Casino Portsmouth, and Caesars Virginia. Despite a slight month-on-month dip, the total gaming revenue reached $51.9 million, showcasing the growing prominence of the casino industry in the state. Notably, the report delineates the contribution of various casinos, with slots emerging as a significant revenue driver.
Revenue Breakdown:
In October, gaming revenue saw a 4.4% decrease compared to September, totaling $51.9 million. Slots played a substantial role in this revenue, generating $37.2 million, while table games contributed $12.3 million to the overall figure. The breakdown of individual casino contributions is as follows:
Rivers Casino Portsmouth: The casino collected $20 million in revenue, with $14.3 million coming from its 1,461 slots and an additional $5.7 million from 81 table games.
Hard Rock Hotel & Casino Temporary Bristol: Generating $12.7 million in revenue, this facility saw $10.3 million from its 897 slots and $2.3 million from 29 table games.
Caesars Virginia: The temporary casino in Danville reported over $16.8 million in adjusted gross gaming revenue, deriving this income from its 822 slot machines and 33 table games.
Tax Contributions:
The three casinos collectively contributed $9.3 million in taxes to the Gaming Proceeds Fund, underscoring their financial commitment to the community and state.
Casino License Approvals and Developments:
The Virginia Lottery Board approved the casino license for Hard Rock Hotel & Casino Temporary Bristol in April 2022, and the temporary facility commenced operations three months later. Rivers Casino Portsmouth received approval in November 2022, opening its doors on January 23. Caesars Virginia’s casino license approval came in April 2023, with its temporary facility in Danville starting operations on May 15, 2023.
Future Developments:
Caesars Virginia: Currently under construction with a cost of $650 million, this permanent facility will feature a 500-room hotel, a comprehensive casino gaming floor, a WSOP poker room, and a Caesars Sportsbook, among other amenities.
Hard Rock Hotel & Casino Bristol: Scheduled to open in summer 2024, this permanent establishment will include a 3,200-seat performance venue, a 20,000-person capacity outdoor entertainment venue, two hotel towers, a pool, and more.
The October revenue report showcases the continued success and development of Virginia’s casino industry. With a focus on transparency and tax contributions, these establishments play a crucial role in the state’s economic landscape. As permanent facilities near completion, the anticipation for continued growth and job creation in the region remains high.