The Virginia Lottery has released its gaming revenue report for August, showing that the state’s three casinos generated $55.1m. According to the report, Virginia law’s graduated tax on casino AGR resulted in $9.9m paid to the Gaming Proceeds Fund.
Each casino is a fairly young gaming venue. HR Bristol opened to the public in July 2022 at a temporary location, after receiving a license that April. Rivers Casino Portsmouth opened in January 2023, while the Caesars Virginia opened in May this year.
The casino that generated the highest AGR was Rivers Casino Portsmouth with $21.5m, while the lowest revenue came from HR Bristol and reached $13.9m.
Across all three venues, slots clearly outperformed table games. Total revenue from slots in Virginia in the month of August was nearly $40m, while table games brought in $15.1m. Rivers Casino Portsmouth also had both the highest individual slot and table game revenues of $14.4m and $7.1m.
While there is no data for each casino from 2022 to compare, the total revenue for August shows a slight decrease from July’s total of $57.3m, while individual casino revenue in July also saw Rivers Casino Portsmouth leading the three, bringing in a slightly higher revenue last month of $22.4m.
HR Bristol, the only casino open in August 2022, reported a 0.5% decrease in its slot revenue, an 11.6% decrease in its table game revenue and a 2.7% decrease in its total revenue year-on-year.
A proposed casino for Richmond, Virginia also has the chance to be approved in November and its annual tax revenue may be used to fund affordable childcare.
