Rivers Casino Portsmouth makes $24.5m in first month
The Virginia casino opened on January 23 and has already generated over $4m in tax revenue.
Rivers Casino Portsmouth has had a successful first month of operation, bringing in more than $24.5m according to a report by the Virginia Lottery Board. The casino also brought in $9m during its first eight opening days.
With gaming revenue and taxes both at a record high for the state, Rivers Casino is projected to bring the city of Portsmouth an estimated $16m in new tax revenue within the next four years.
This February, the city generated over $4m in tax revenue from the new casino’s initial popularity; $1.5m of that revenue went toward the city of Portsmouth.
Rivers Casino offers nearly 1,500 slot machines, a poker room with two dozen tables, other table games and BetRivers sportsbook, among other activities. It generated the most revenue from its slot machines, which made up over $17m of February’s total. Table games brought in revenue of $7.5m.
The casino’s Problem Gambling Treatment and Support Fund generated $35.5m and represented 0.8% of total tax. Its Family and Children’s Trust Fun also brought in over $8,000.
Rivers Casino is one of two brick-and-mortar casino sites in the Old Dominion, and together with Hard Rock Bristol, revenue of $38.4m was generated in February. January 2023 had previously brought in $22.4m, which was a state record at the time.
General Manager Roy Corby previously told The Virginian-Pilot that demand is usually high in the beginning, but that he “expects it to normalize over time.”
Corby told the newspaper, “We are grateful to our team members, guests and the community for their continued support.”
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