Va. casinos report $75M+ haul for February

February gaming revenues from Virginia’s three casinos totaled $75.2 million, according to a March 14 report from the Virginia Lottery. February’s statewide casino gaming revenues were up $2.86 million from January’s $72.34 million.

Last month, Hard Rock Bristol casino reported about $19.75 million in adjusted gaming revenues (wagers minus winnings), of which about $16.43 million came from 1,484 slots and about $3.32 million came from 73 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 Hard Rock Bristol opened in November 2024.)

Rivers Casino Portsmouth, which opened as Virginia’s first permanent casino in January 2023, generated about $17.46 million in February from its 1,417 slots and more than $6.8 million from its 84 table games, for a total AGR of about $24.28 million.

The state’s newest permanent casino, the Caesars Virginia resort in Danville, reported about $31.14 million in AGR, with about $21.54 million coming from 1,477 slots and more than $9.6 million coming from 100 table games. The $800 million casino opened in December 2024, replacing a temporary Caesars Virginia casino that opened in May 2023.

Virginia law assesses a graduated tax on a casino’s adjusted gaming revenue. For the month of February, taxes from casino AGRs totaled $13.5 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 February, Portsmouth received 6% of the Rivers Casino Portsmouth’s AGR, getting about $1.46 million. Danville received about 6% of the Caesars Virginia casino’s adjusted gaming revenue, amounting to roughly $1.87 million. For the Bristol casino, 6% of its adjusted gaming revenue — about $1.18 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 $108,248 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 $27,062 in February.

Two more casinos are on the horizon in Virginia.

Construction began on the long-awaited $750 million Norfolk casino in February. The Pamunkey Indian Tribe remains a partner, but Boyd Gaming replaced Tennessee investor Jon Yarbrough. The entities have scrapped the name HeadWaters Resort & Casino. A temporary casino is expected to be completed by the end of the year. Developers named Ron Bailey as vice president and general manager for the forthcoming casino, earlier this month.

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