A trio of casinos in the Virginia generated revenues of $52.9 million in January, according to a report from their governing body, the Virginia Lottery. Revenues were directly proportional to each casino’s number of gaming positions.
The largest, Rivers Casino Portsmouth, the only permanent casino among the three, grossed $23.5 million from 1,466 slot machines and 81 table games. Hard Rock International’s interim casino in Bristol recorded $12.1 million from 911 slot machines and 29 table games. The Caesars Virginia temporary casino in Danville earned $17.2 million from 808 slots and 33 tables.
Virginia’s tax coffers were fattened to the tune of $9.5 million. State taxes from casino revenue in part benefit the Problem Gambling Treatment & Support Fund ($76,124) and the Family & Children’s Trust Fund ($19,031). The city of Bristol received $724,677, while Portsmouth cashed in $1.4 million and Danville banked $1.03 million.
Sports-betting revenue numbers from January were not yet available, but in December, operators generated handle of $633 million and won $62 million. The amount wagered was a 29.5 percent increase from December of 2022.
No breakdown was provided by the Lottery for the state’s 17 licensed operators, only 10 of which were revenue-positive. Sports-betting revenue is taxed in Virginia at 15 percent. This generated a total tax benefit to the state of $57.2 million.
