Va. casino gaming revenues total $60.1M in April

Virginia’s three casinos reported about $60.1 million in gaming revenues for April, according to Virginia Lottery data released last week.

Last month, the Bristol Casino: Future Home of Hard Rock reported about $13.9 million in adjusted gaming revenues (wagers minus winnings), of which about $11 million came from its 903 slots and about $2.9 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 April, it generated about $18.4 million from its 1,446 slots and about $8 million from its 81 table games for a total AGR of about $26.4 million.

The temporary Caesars Virginia casino in Danville, which received its casino license in April 2023 and opened in May 2023, reported about $14.45 million in AGR from its 820 slots and about $5.29 million from its 33 table games, totaling about $19.74 million last month.

April’s casino gaming revenues were a 7.6% decrease from the $65.08 million reported in March.

Virginia law assesses a graduated tax on a casino’s adjusted gaming revenue. For the month of April, taxes from casino AGRs totaled $10.8 million.

The host cities of Portsmouth and Danville received 6% of their respective casinos’ AGRs: about $1.59 million and $1.18 million, respectively. For the Bristol casino, 6% of its adjusted gaming revenue — about $836,679 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 $86,579 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 $21,645 in April.

The $500 million HeadWaters Resort & Casino in Norfolk, approved by voters in 2020, is still in a holding pattern. In January, the King William County-based Pamunkey Indian Tribe and Tennessee investor Jon Yarbrough, asked the Norfolk Architectural Review Board for a delay to make design changes requested by the city. A spokesperson for HeadWaters Resort & Casino said Monday there are no new updates about the casino, which is required to get its license from the lottery board by November 2025.

Petersburg, meanwhile, will hold a casino referendum on ballots this fall. The city council voted in April to endorse The Cordish Cos.’ proposal instead of following through on a competitive bidding process announced in February.