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Tag: Virginia Lottery Board

Va. casino gaming revenues total $65M in March

Virginia’s three casinos reported about $65.08 million in gaming revenues for March, according to Virginia Lottery data released April 15.

Last month, the Bristol Casino: Future Home of Hard Rock reported about $16.27 million in adjusted gaming revenues (wagers minus winnings), of which about $13 million came from its 911 slots and about $3.26 million came from its 29 table games. The Bristol casino temporary facility opened in July 2022, making it Virginia’s first operating casino. The Virginia Lottery Board approved HR Bristol’s casino license in April 2022.

After the lottery board approved its license in November 2022, Rivers Casino Portsmouth opened as Virginia’s first permanent casino in January 2023. In March, it generated about $19.5 million from its 1,462 slots and about $8.2 million from its 81 table games for a total AGR of about $27.7 million.

The temporary Caesars Virginia casino in Danville, which received its casino license in April 2023 and opened in May 2023, reported about $16.36 million in AGR from its 804 slots and about $4.7 million from its 33 table games, totaling about $21 million last month.

March’s casino gaming revenues were a 13.5% increase from the $57.3 million reported in February.

Virginia law assesses a graduated tax on a casino’s adjusted gaming revenue. For the month of March, taxes from casino AGRs totaled $11.7 million.

The host cities of Portsmouth and Danville received 6% of their respective casinos’ AGRs: about $1.66 million and $1.26 million, respectively. For the Bristol casino, 6% of its adjusted gaming revenue — about $976,200 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 — about $93,700 last month. The Family and Children’s Trust Fund, which funds family violence prevention and treatment programs, receives 0.2% of the monthly total, about $23,400 in March.

There is currently one other casino underway in Virginia: the $500 million HeadWaters Resort & Casino in Norfolk. The developers — a partnership between the King William-based Pamunkey Indian Tribe and Tennessee billionaire Jon Yarbrough — submitted new plans to the city, aiming to start continuous, rather than phased, construction in spring 2024.

The Norfolk Architectural Review Board is the first body to review plans in the approval process, which ends with the Norfolk City Council. The board was initially set to review the new plans in January, but the developers have continued the review indefinitely. The casino must obtain its license from the lottery board by November 2025, or the referendum approved by Norfolk voters in 2020 becomes null and void under state law.

“The Pamunkey Tribe has continued to work diligently with its architecture and engineering teams to produce the additional design work necessary to address the direction provided by [Norfolk] City Council. Until that work is completed, we have asked for a continuance before the ARB,” Jay Smith, spokesperson for HeadWaters Resort & Casino, said in a statement after the Architectural Review Board’s Jan. 22 meeting. “As soon as we are confident that the plans meet the needs of the city and Tribe, we will ask to be put on the ARB agenda. … Once design is completed, we will employ an aggressive construction schedule to bring this project to life.”

Petersburg will likely hold a casino referendum this fall, something its lawmakers have pushed for since Richmond voters first rejected a proposed $562 million casino proposal in their city — and then rejected it a second time. On Wednesday, the Virginia House of Delegates and Senate passed Gov. Glenn Youngkin’s amended version of a bill, sponsored by Sen. Lashrecse Aird, D-Petersburg, replacing Richmond with Petersburg among Virginia cities eligible to host a casino if voters approve it.

Va. casinos report $57.3M in Feb. revenue

Gaming revenues from Virginia’s three casinos totaled $57.3 million in February, according to Virginia Lottery data released Friday.

The Bristol Casino: Future Home of Hard Rock temporary facility opened July 2022, making it Virginia’s first casino. The Virginia Lottery Board approved HR Bristol’s casino license in April 2022. Last month, the Bristol casino generated about $11.67 million from its 911 slots and about $1.67 million from its 29 table games, for a total of about $13.3 million in adjusted gaming revenues (wagers minus winnings).

Rivers Casino Portsmouth opened in January 2023, becoming Virginia’s first permanent casino. The lottery board had previously approved its license in November 2022. In February, the Portsmouth casino reported about $25 million in AGR, of which about $18.2 million came from its 1,468 slots and the remaining roughly $7 million from its 81 table games.

The temporary Caesars Virginia casino in Danville opened in May 2023, after receiving its casino license in April 2023. In January, Caesars Virginia held a topping-off ceremony for the 12-story hotel that will be part of the permanent resort casino slated to open late this year. The casino reported about $13.98 million from its 808 slots and $4.75 million from its 33 table games, totaling about $18.7 million.

February’s casino gaming revenues were an almost 8.5% increase from the $52.86 million reported in January.

Virginia law assesses a graduated tax on a casino’s adjusted gaming revenue. For the month of February, taxes from casino AGRs totaled $10.32 million.

The host cities of Portsmouth and Danville received 6% of their respective casinos’ AGRs: about $1.5 million and $1.12 million, respectively. For the Bristol casino, 6% of its adjusted gaming revenue — about $800,800 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, which was almost $82,570 last month. The Family and Children’s Trust Fund, which funds local family violence prevention and treatment programs, receives 0.2% of the monthly total, about $20,640 in February.

One other casino is currently underway in Virginia: the $500 million HeadWaters Resort & Casino in Norfolk. The developers — a partnership between the King William-based Pamunkey Indian Tribe and Tennessee billionaire Jon Yarbrough — submitted new plans to the city, aiming to start continuous, rather than phased, construction in spring 2024.

The Norfolk Architectural Review Board is the first body to review plans in the approval process, which ends with the Norfolk City Council. The board was set to review the new plans in January, but the developers have continued the review indefinitely.

“The Pamunkey Tribe has continued to work diligently with its architecture and engineering teams to produce the additional design work necessary to address the direction provided by [Norfolk] City Council. Until that work is completed, we have asked for a continuance before the ARB,” Jay Smith, spokesperson for HeadWaters Resort & Casino, said in a statement after the Architectural Review Board’s Jan. 22 meeting.

“As soon as we are confident that the plans meet the needs of the city and Tribe, we will ask to be put on the ARB agenda,” Smith said in the statement. “We know so many residents of Norfolk share our eagerness to open HeadWaters Resort & Casino, and once design is completed, we will employ an aggressive construction schedule to bring this project to life.” The casino must obtain its license from the lottery board by November 2025, or the 2020 referendum becomes null and void under state law.

Following Richmond voters’ rejection of a proposed $562 million casino for the second time, Petersburg lawmakers sought to hold a referendum in their city. A bill that would replace Richmond with Petersburg on the list of cities eligible to host a casino in Virginia has passed the Virginia Senate and the House of Delegates, but the House added an amendment that requires a second vote on the bill during a “subsequent regular or special session,” so the bill is stalled for now. A second bill that would have given Fairfax County a casino referendum has also been tabled until 2025’s session.

Va. casinos report $51.2M in November revenue

Gaming revenues from Virginia’s three casinos totaled $51.2 million in November, according to Virginia Lottery data released Friday.

Virginia’s first casino, the Bristol Casino: Future Home of Hard Rock temporary facility, opened July 2022. The Virginia Lottery Board approved HR Bristol’s casino license in April 2022. The Bristol casino reported a little more than $12 million in adjusted gaming revenue (wagers minus winnings) in November, of which about $10 million came from its 908 slots, and $1.9 million from its 29 table games.

Rivers Casino Portsmouth, Virginia’s first permanent casino, opened in January. The lottery board approved its license in November 2022. Rivers Casino Portsmouth generated almost $21.6 million in November gaming revenues, of which about $14.6 million came from its 1,416 slots, and about $6.9 million from its 81 table games.

The temporary Caesars Virginia casino in Danville opened in May, after receiving its casino license in April. Caesars Virginia’s adjusted gaming revenue totaled $17.5 million in November. Of that, about $12.8 million came from its 830 slots, and the remaining almost $4.69 million came from its 33 table games.

Virginia law assesses a graduated tax on a casino’s adjusted gaming revenue. For November, total casino state taxes were approximately $10.29 million.

Portsmouth received 7% of adjusted gaming revenues from the Rivers Casino Portsmouth, getting $1.5 million. Danville received 6% of the Caesars Virginia casino’s adjusted gaming revenue, which was about $1 million. For the Bristol casino, 6% of its adjusted gaming revenue — roughly $725,000 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 received approximately $82,000 from casino taxes in November, while the Family and Children’s Trust Fund received about $20,590. The remaining roughly $6.9 million remains in the state’s Gaming Proceeds Fund.

Currently, one more casino is planned in Virginia — the HeadWaters Resort & Casino in Norfolk. In June, developers scrapped plans to build a 45,000-square-foot temporary casino, although the Pamunkey Indian Tribe and Tennessee billionaire Jon Yarbrough said in November that they hope to break ground in 2024 after getting city leaders’ sign-off.

Richmond voters gave a resounding “no” to a casino for the second time, rejecting the proposed $562 million Richmond Grand Resort & Casino in the city’s do-over casino referendum in November.

Petersburg lawmakers seek to hold a casino referendum in the city by November 2025, which would require the General Assembly to allow a casino in a city with a population below 200,000, the Richmond Times-Dispatch reported.

Editor’s note: This story has been updated to correct the tax rates allocated to host localities and the RIC.

Va. Lottery reports record $4.6B in FY23 revenue

Virginia Lottery reported $4.6 billion in sales for fiscal 2023, the first time its sales have broken $4 billion, and record profits of $867 million.

Profits increased almost 10% from the last fiscal year, when the lottery reported $779.6 million. The lottery’s fiscal year ends on June 30, and the lottery board announced the results Aug. 16.

The lottery credited several factors for the record totals. The popularity of instant-win online game sales led to $2 billion in sales. Also, three multistate Mega Millions and Powerball jackpot runs topped $1 billion, and the lottery introduced mobile ticket cashing, allowing players to scan and redeem winning tickets worth up to $5,000 on their mobile devices.

Nearly 5,300 brick-and-mortar retailers earned more than $137 million in commissions and bonuses.

Lottery players won a record $3.4 billion. The largest prize won during the year was a $156.7 million Powerball jackpot.

The Virginia Lottery’s profits support Virginia’s K-12 public schools.

The Virginia Lottery also oversees the licensing and regulation of mobile sports betting and casino gaming. By June 30, Virginia had 16 licensed active sports betting permit holders, and Virginians wagered $325 million on sports betting in June.

Gaming revenues from Virginia’s three current casinos — the temporary Hard Rock Bristol, Rivers Casino Portsmouth and the temporary Caesars Virginia in Danville — totaled $52.2 million in June. In July, the start of the next fiscal year, that number rose to $57.3 million.

At least one more casino is on the horizon. In June, the developers of the $500 million HeadWaters Resort & Casino in Norfolk scrapped plans to open a temporary casino, instead focusing on building the permanent casino.

Richmond might also be home to a casino. In July, the Virginia Lottery and the Richmond Circuit Court approved a do-over of the city’s casino referendum, which will appear on ballots this fall.

Va. casinos report $35.4M in April revenue

Gaming revenues from Virginia’s two casinos open in April totaled $35.4 million last month, according to data released Monday from the Virginia Lottery.

Rivers Casino Portsmouth, which received its casino license in November 2022 and opened Jan. 23, reported $21.3 million in adjusted gross revenue (wagers minus winnings) in April. Of that, $13.8 million came from its 1,420 slots, and the remaining $7.5 million came from its 81 table games.

The Virginia Lottery Board approved the casino license for the HR Bristol operator in April 2022, and the Hard Rock Hotel & Casino Bristol’s temporary facility opened on July 8, 2022. Its permanent facility is expected to open in July 2024. HR Bristol reaped $14 million in adjusted gross revenue (AGR) in April. The casino reported $11 million in AGR from its 888 slots and $2.7 million from its 29 table games.

Last month, Virginia took in almost $6.37 million in tax revenue from casino gaming activity — $3.8 million from the Portsmouth casino and $2.5 million from the Bristol casino. For Rivers Casino Portsmouth, 6% of its AGR (about $1.28 million) will go to Portsmouth, while 6% of the Hard Rock Bristol’s AGR (about $842,000) will go 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 will receive $30.7 million from Rivers Casino Portsmouth’s taxes and $20.2 million from Bristol casino taxes for a total of $50.9 million. The Family and Children’s Trust Fund will receive about $12,700 from April taxes, of which about $7,700 comes from the Portsmouth casino. The remaining $4.18 million in taxes will stay in the Gaming Proceeds Fund.

Virginia’s third casino, Caesars Virginia’s temporary casino, opened Monday in Danville. The temporary facility has 740 slot machines, 25 live table games and 28 electronic table games.

Lottery approves Danville Caesars casino’s license

UPDATED: April 26, 4 p.m. 

The Virginia Lottery Board approved the facility operator’s license for Danville’s $650 million Caesars Virginia casino, which is expected to open in a temporary space on May 15. It’s the third casino to receive state approval, following the Hard Rock casino in Bristol and Rivers Casino Portsmouth in Hampton Roads.

“For months, the Lottery’s Gaming Compliance Department and legal team have conducted background investigations and examined every detail of this application,” said Virginia Lottery Executive Director Kelly T. Gee. “Those investigations include not just Caesars Virginia, but all the vendors and employees as well.”

Approved by Danville voters in a November 2020 referendum, the Caesars Virginia casino is a partnership between Caesars Entertainment Inc. and the Eastern Band of Cherokee Indians (EBCI).

A temporary casino is set to open in Danville on May 15 and a permanent one in late 2024. Photo courtesy Caesars

Caesars plans to open a 40,000-square-foot temporary facility at the former Dan River Inc. Schoolfield mill site. It will have eight sportsbook betting kiosks, 740 slot machines, 25 live table games including blackjack, roulette and baccarat; and 28 electronic table games of blackjack, roulette and craps, Caesars said in a news release. A quick service restaurant, Three Stacks, will also serve customers of the temporary casino. The temporary casino will create 400 jobs.

“We’ve received an incredible outpouring of support and cooperation to get us to this day, especially from the Danville community and the surrounding areas,” Chris Albrecht, senior vice president and general manager of Danville Casino and Caesars Virginia, said in a statement. “The opening of the Danville Casino is a monumental step forward for us, and we are excited to begin welcoming guests on May 15.”

Plans for the permanent resort casino call for 500 hotel rooms, a spa, a pool, bars, a 2,500-person entertainment venue and 40,000 square feet of meeting and convention space. The casino, expected to open in late 2024, will have at least 1,300 slots, 85 live game tables, 24 electronic table games, a poker room and sportsbook.

Virginia’s first casino, the Hard Rock Hotel & Casino Bristol, opened in July 2022 in a temporary space at the former Bristol Mall after receiving licensing approval less than 90 days earlier. In December 2022, developers began construction nearby on the $400 million permanent Hard Rock casino, which is slated to open in July 2024. The $340 million Rivers Casino Portsmouth, which received its license in November 2022, opened its permanent space in January. The Pamunkey Indian Tribe’s license for the proposed $500 million HeadWaters Resort & Casino on the Elizabeth River in Norfolk is still pending state approval.

“The Virginia Lottery Board takes very seriously its statutory role overseeing casino gambling in the commonwealth,” said Lottery Board Chairman Ferhan Hamid. “All Virginians, whether or not they use these facilities, need to be aware that they are operated and regulated responsibly.”

Rivers Casino Portsmouth plans Jan. 15 opening

Rivers Casino Portsmouth will open to the public Jan. 15 at 3 p.m., according to an announcement Monday.

The $340 million venue, part of a planned entertainment district along Victory Boulevard off Interstate 264, will feature 1,448 slot machines, 57 table games and 24 poker tables as well as 10 bars and restaurants and an event space. It also includes a Topgolf Swing Suites that will overlook a BetRivers Sportsbook.

News of the opening comes just days after the Virginia Lottery Board unanimously approved the casino’s operators license. It is the second license issued in the state; the first was awarded in April to Bristol’s Hard Rock Hotel and Casino, which opened its temporary casino in July. A permanent, 90,000-square-foot resort and casino is expected to open there in July 2024.

Rivers Casino, which is owned and will be operated by Rush Street Gaming, will become the first permanent casino facility to open in Virginia. Proposed casinos are in the pipeline in Danville and Norfolk. Construction of Portsmouth’s casino began in December 2021.

“We’re grateful to the Virginia Lottery Board, the city of Portsmouth and the Hampton Roads community for their continued support,” Rush Street Gaming CEO Tim Drehkoff said in a statement. “It’s been exciting to watch the building go up, and we’re eager for the public to see what’s inside.”

The casino on Monday also announced that registration for its players club loyalty program is now open at riverscasinoportsmouth.com.

Rivers Casino will employ as many 1,300 workers. More than 950 job offers have been made with others continuing to go out.

“In the coming weeks, we’ll remain laser-focused on continued hiring and training efforts — ensuring our team is ready to deliver a first-rate customer experience when our doors open in January,” General Manager Roy Corby said in a statement Monday.

Construction of the Portsmouth casino began in December 2021.

Lottery Board approves license for Portsmouth casino

The Virginia Lottery Board unanimously approved the casino facility operator’s license for the Rivers Casino Portsmouth Wednesday.

It was the second casino operator’s license issued in the state; the first was awarded in April to Bristol’s Hard Rock Hotel and Casino, which opened a temporary casino in July. Two more proposed casinos are in the pipeline in Danville and Norfolk.

Roy Corby will be general manager of the Rivers Casino Portsmouth.

“The lottery’s gaming compliance department and legal counsel assisted in today’s decision by conducting investigations and background checks on the applicants,” Virginia Lottery Executive Director Kelly T. Gee said in a statement. “The lottery works with all casino applicants, their vendors and employees to make sure all aspects of the operation are in strict compliance with Virginia law.”

Rivers Casino Portsmouth plans to open its $340 million casino in early 2023 at the intersection of Victory and Cavalier boulevards, off Interstate 264. The casino will have 1,448 slots, 57 table games, 24 poker tables, five restaurants/bars and banquet and event space. The first dealer academy graduated 147 newly-certified dealers and another 347 are enrolled to date. Of the hires made so far, more than 50% are minorities.

Rush Street Gaming, the casino’s owner, plans to hire 1,300 permanent employees. So far, it has made 800 offers of employment and continuous offers are going out, casino representatives told the lottery board.

Rivers Casino Portsmouth started construction in December 2021, with Virginia Beach-based S.B. Ballard Construction Co. and Philadelphia-based Yates Construction as general contractors. Rivers Casino Portsmouth avoided supply chain issues and inflation-related cost increases by securing materials in advance, General Manager Roy Corby told Virginia Business this summer.

“Our Rivers Casino Portsmouth team is grateful to the Virginia Lottery Board for their thoughtful and thorough consideration,” Corby said in a statement Wednesday. “We look forward to sharing the timing and details of our early 2023 grand opening with the Hampton Roads community very soon.”

In July, the casino opened a 2,317-square-foot office in a coworking space on High Street in Olde Towne to house multiple administrative departments and assist with recruitment.

“The gaming landscape in Virginia continues to evolve and the Lottery Board is committed to ensuring that casinos in the commonwealth are operated responsibly, fairly and with the utmost integrity,” Board Chairman Ferhan Hamid said in a statement. “While not all Virginians will choose to visit these facilities, all of our citizens need to be confident that they are regulated with the very highest standards.”

 

Virginia Lottery reports record $3.75B in revenue

The Virginia Lottery posted record sales of $3.75 billion and a record of almost $779.6 million in profits for fiscal year 2022, the lottery’s board announced Tuesday.

Sales increased roughly 15% from last year, and the lottery’s profits increased about 1.9% over the prior fiscal year’s record. The lottery’s fiscal year ends on June 30.

“Solid business practices supported by a broad offering of games to our players and the opportunity for our valuable retail partners to earn commissions and bonuses are what led to this record year,” Virginia Lottery Executive Director Kelly Gee said in a statement. “We had positive impacts in every corner of the state, from players winning record amounts of prizes to retailers benefitting from their ticket sales.”

Online sales steadily rose for the second full year since that revenue avenue was legalized in July 2020. More than 5,300 brick-and-mortar retailers earned a total $138.6 million in commissions and bonuses.

Virginia Lottery players won $2.67 billion, another record. The largest prize was $10 million, which a woman in Haymarket won on an Extreme Millions ticket.

The Virginia Lottery’s profits support Virginia’s K-12 public schools.

Newer to the Virginia Lottery’s responsibilities are the licensing and regulation of mobile sports betting and casino gaming. Virginia legalized sports betting in January 2021. Since then, the lottery has taken in $5.6 billion in gross sports gaming revenues. The state had 13 licensed active sports betting permit holders at the end of the fiscal year.

On July 8, the first Virginia casino, the Hard Rock Hotel & Casino Bristol, opened in a temporary space. Three other casinos are preparing to open in Portsmouth, Norfolk and Danville.

Caesars Entertainment Inc. announced earlier this month it would up its investment in the Danville casino and resort to $650 million and announced that the Eastern band of Cherokee Indians is a joint venture partner.

In July, HeadWaters Resort & Casino, the Pamunkey Indian Tribe’s $500 million gaming project planned for Norfolk, announced it was abandoning its temporary casino plans at Harbor Park, instead locating the facility on the same property as the permanent casino.

The $300 million Rivers Casino Portsmouth is on track to become the first Virginia casino to open a permanent location in January 2023. Rush Street Gaming, the casino’s owner, plans to hire 1,300 permanent employees.

Va. Lottery Board awards first casino license

The Virginia Lottery Board has issued its first license for a casino in Virginia to Hard Rock Bristol, the board announced Wednesday.

With its permanent casino still on track to open at the former Bristol Mall in July 2024, Hard Rock International Inc. is preparing to open a 30,000-square-foot temporary casino with 870 gaming slots and 21 tables on July 8.

“Since enacted by the 2020 General Assembly, the board’s priority for casino gaming in the commonwealth is that it be conducted with integrity and in a responsible manner,” said Board Chairman Ferhan Hamid in a statement. “Today’s approval reflects the confidence we have in the rigorous and conscientious review conducted by Virginia Lottery staff.”

The 90,000-square-foot permanent facility will include a 3,200-seat performance venue and a 20,000-person capacity outdoor entertainment venue.

Three other casinos are also in the process of opening in Norfolk, Portsmouth and Danville. Richmond voters initially voted down a casino referendum on the November 2021 ballot but may get to vote again in the future.

Developers of the $500 million HeadWaters Resort & Casino on the Elizabeth River in Norfolk are asking the City Council for permission to build a temporary casino, which would operate at Harbor Park, where Norfolk’s minor league baseball team plays. It would be in the space where there is currently a boxing center on the first floor and a restaurant on the second floor and would be about 31, 572 square feet. The Norfolk Planning Commission will review the proposal at a public hearing Thursday. A permanent casino is planned for next door.

“The Virginia Lottery has worked diligently for two years to build the appropriate regulatory structure for casino gaming,” said Acting Executive Director Kelly T. Gee. “I am proud of the tireless work by our Gaming Compliance Department and our legal counsel for conducting the necessary investigative work to assist the board in its decision. There are still many steps to the finish line, but there is no doubt that this is an exciting time.”

Hard Rock has hired about 100 employees so far, with the bulk of them due to start within 30 to 45 days of the opening of the temporary casino, a spokesperson said in early April. In February, the casino named Allie Evangelista its president. 

“We are excited by the Virginia Lottery Board’s action today granting a license to open Virginia’s first casino in Bristol subject to the completion of outstanding operational activities,” said Jon Lucas, chief operating officer of Hard Rock International, in a statement. “We appreciate the Virginia Lottery’s assistance and diligence in working closely with our team over many months to reach today’s important milestone for Bristol, Southwest Virginia and the commonwealth.”