Va. casinos report $63.1M in August revenues

August gaming revenues for Virginia’s three casinos totaled $63.1 million, according to Virginia Lottery data released in September. 

Last month, the Bristol Casino: Future Home of Hard Rock temporary casino reported about $15.94 million in adjusted gaming revenues (wagers minus winnings), of which about $13.29 million came from its 905 slots, and the remaining roughly $2.65 million came from its 29 table games. The Bristol casino’s temporary facility opened in July 2022, making it the first operating casino in Virginia. 

The permanent Hard Rock Bristol casino’s opening has been pushed back from July to sometime in late fall. The permanent resort casino is expected to have a 303-room hotel, more than 1,500 slots, 75 table games, new dining venues and a 2,000-seat indoor entertainment venue.

After the lottery board approved its license in November 2022, Rivers Casino Portsmouth opened as Virginia’s first permanent casino in January 2023. In June, it generated about $19.19 million from its 1,378 slots and about $7.46 million from its 85 table games, for a total AGR of close to $26.65 million.

The temporary Caesars Virginia casino in Danville, which received its casino license in April 2023 and opened in May 2023, reported about $15.63 million in AGR from its 826 slots and about $4.85 million from its 36 table games, totaling about $20.48 million last month. Its permanent location, which will cost about $750 million, is slated to open late this year and will include a 320-room hotel and a roughly 90,000-square-foot casino floor.

August’s casino gaming revenues were a roughly 6.4% increase from the $59.3 million reported in July. 

Virginia law assesses a graduated tax on a casino’s adjusted gaming revenue. For the month of August, taxes from casino AGRs totaled about $11.77 million.

The host cities of Portsmouth and Danville received 6% of their respective casinos’ AGRs: about $1.68 million and $1.23 million, respectively. For the Bristol casino, 6% of its adjusted gaming revenue — more than $956,400 last month — goes to the Regional Improvement Commission, which the General Assembly established to distribute Bristol casino tax funds throughout Southwest Virginia.

The Problem Gambling Treatment and Support Fund receives 0.8% of total taxes — more than $94,000 last month. The Family and Children’s Trust Fund, which funds family violence prevention and treatment programs, receives 0.2% of the monthly total, which was approximately $23,530 in August.

Plans are once again moving forward for the delayed Norfolk casino. On Sept. 10, Norfolk City Council voted 7-1 Tuesday to approve a development agreement between the city, the Pamunkey Indian Tribe and Boyd Gaming, which replaces Tennessee investor Jon Yarbrough as the King William County tribe’s corporate partner.

In paperwork filed with the city, the partners have scrapped the casino’s old name, HeadWaters Resort & Casino, and provided a timeline to start construction of a temporary casino and a permanent structure within a few weeks of each other in early 2025. A new name for the facility has not been announced. 

In Central Virginia, Petersburg will hold a casino referendum on this fall’s ballots, asking voters to approve casino gaming. During an April meeting, the Petersburg City Council voted to endorse a proposal from The Cordish Cos., canceling a competitive bidding process.