Va. casinos report more than $72M in January revenue

January gaming revenues from Virginia’s casinos totaled $72.34 million, according to a report from the Virginia Lottery released Friday.

Last month, Hard Rock Bristol casino reported about $18.52 million in adjusted gaming revenues (wagers minus winnings), of which about $15.16 million came from 1,486 slots and $3.36 million came from 77 table games. The Virginia Lottery Board approved HR Bristol’s casino license in April 2022, and the Bristol casino’s temporary facility opened in July 2022, making it the first operating casino in Virginia. The permanent casino resort opened in November 2024.

After the lottery board approved its license in November 2022, Rivers Casino Portsmouth opened as Virginia’s first permanent casino in January 2023. The casino in January generated more than $17.25 million from its 1,419 slots and about $8 million from its 85 table games, for a total AGR of about $25.26 million.

Caesars Virginia reported about $28.57 million in AGR, with $21.39 million coming from 1,479 slots and $7.18 million coming from 137 table games. The $800 million permanent facility opened in December 2024 in Danville. Before that, there was a temporary Caesars Virginia casino which received its casino license in April 2023 and opened in May 2023.

January’s casino gaming revenues were a $2.57 million decrease from the $74.91 million reported for December 2024.

Virginia law assesses a graduated tax on a casino’s adjusted gaming revenue. For the month of January, taxes from casino AGRs totaled $13 million.

Under Virginia law, 6% of a casino operator’s AGR goes to its host locality until the operator passes $200 million in AGR for the year, at which point the host locality’s tax rate rises to 7%. If an operator passes $400 million in AGR in the calendar year, that rises to 8%.

For January, Portsmouth received 6% of the Rivers Casino Portsmouth’s AGR, getting almost $1.52 million. Danville received about 6% of the Caesars Virginia casino’s adjusted gaming revenue, amounting to roughly $1.71 million. For the Bristol casino, 6% of its adjusted gaming revenue — $1.11 million 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 $104,176 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 $26,044 in January.

Construction began on the long-awaited $750 million Norfolk casino on Friday. The Pamunkey Indian Tribe remains a partner, but Boyd Gaming replaced Tennessee investor Jon Yarbrough. The entities have scrapped the name HeadWaters Resort & Casino.

In November 2024, more than 80% of Petersburg voters said yes to the city’s casino referendum.