Virginia’s burgeoning casino industry continues its upward trajectory, with March marking significant growth in gaming revenue. The state’s three operational casinos—Hard Rock Hotel & Casino Temporary Bristol, Rivers Casino Portsmouth, and Caesars Virginia—contributed to a combined revenue of $65.1 million. This represents a 13.5% increase from February and a staggering 73.9% surge compared to the same period last year. Additionally, the state collected $10.3 million in taxes, reflecting the industry’s positive economic impact.
Revenue Breakdown:
In March, slot revenue surged to $48.9 million, marking an 11.5% increase from the previous month. Table games also experienced substantial growth, reaching $16.2 million—an increase of 20.1%. Rivers Casino Portsmouth led the revenue charge with $27.7 million, derived from $19.5 million in slot revenue and $8.2 million from table games. Hard Rock Hotel & Casino Temporary Bristol followed closely with $16.2 million in revenue, generated primarily from slots ($13 million) and table games ($3.2 million). Caesars Virginia, operating from its temporary location in Danville, reported $21 million in adjusted gross gaming revenue. This comprised $16.3 million from slot machines and $4.7 million from table games.
Future Developments:
Exciting developments lie ahead for Virginia’s gaming landscape. Caesars Virginia is currently under construction, set to feature a luxurious $650 million establishment with a plethora of amenities. Upon completion, it will boast a 500-room hotel, over 1,300 slots, 85 live table games, electronic table games, a WSOP poker room, and a Caesars Sportsbook. Additional attractions include a spa, pool area, fitness center, and 40,000 square feet of meeting and convention space. The venue will also accommodate up to 2,500 guests for entertainment events.
Meanwhile, the permanent Hard Rock Hotel & Casino Bristol, slated for a summer 2024 opening, promises an immersive entertainment experience. With a 3,200-seat performance venue and a 20,000-person capacity outdoor entertainment space, it aims to become a cultural hub in the region. Operating around the clock, the casino is expected to create 1,200 to 1,500 jobs, further boosting the local economy. Additionally, the establishment will feature two hotel towers, a pool, and other amenities to enhance visitor experience.
Virginia’s casino industry is on a robust growth trajectory, as evidenced by the impressive revenue figures for March. With ongoing developments and the imminent opening of flagship establishments like Caesars Virginia and Hard Rock Hotel & Casino Bristol, the state’s gaming landscape is poised for further expansion. The economic benefits, including job creation and tax revenue generation, underscore the industry’s significance in driving prosperity for the region. As these projects come to fruition, Virginia is set to emerge as a premier destination for gaming and entertainment on the East Coast.