Virginia Lottery announces substantial casino revenue and tax contributions for July
Portsmouth, Virginia – The Virginia Lottery recently released details on the performance of the state’s three operational casinos for July 2024, marking a significant month in gaming revenue and tax contributions. The casinos, namely HR Bristol, Rivers Casino Portsmouth, and Caesars Virginia, collectively generated $59.3 million in adjusted gaming revenue (AGR).
Gaming Revenue Breakdown
The month’s revenue statistics showed that a substantial portion of earnings came from slot machines and table games across all three casinos. HR Bristol, the first to open among the trio, contributed significantly to the revenue with nearly $14.84 million in AGR. Rivers Casino Portsmouth led the revenue figures with over $25.69 million, while Caesars Virginia added approximately $18.8 million to the total.
Slot Machines and Table Games:
- HR Bristol reported $11.7 million from slots and $3.15 million from table games.
- Rivers Casino Portsmouth had a higher turnout with $18.26 million from slots and $7.44 million from table games.
- Caesars Virginia also showed strong performance with slots bringing in $14.39 million and table games adding another $4.42 million.
The combined efforts of these establishments led to a robust $59.34 million total AGR for July.
Tax Contributions and Allocations
The casinos paid a total of $10.7 million in taxes to the state’s Gaming Proceeds Fund. Virginia’s casino tax structure ensures that a portion of these funds is allocated to various community and support funds. The breakdown of the July tax contributions is as follows:
- HR Bristol: $2.67 million
- Rivers Casino Portsmouth: $4.63 million
- Caesars Virginia: $3.38 million
From these totals, 6% of each casino’s AGR contributed directly to the host cities or the Regional Improvement Commission (RIC) for Bristol, accumulating to $3.56 million across the board. Additionally, contributions to the Problem Gambling Treatment and Support Fund amounted to $85,453, and the Family and Children’s Trust Fund received $21,363.
Regulatory Oversight and Community Impact
Since the Virginia Lottery assumed regulatory oversight of casino gaming in 2020, it has ensured transparency and compliance across the industry. The positive impact of these casinos extends beyond entertainment, as they support community projects and state priorities determined by the General Assembly.
The casinos are not just entertainment hubs but have become critical to the local economies of their respective host cities. By integrating with local businesses and community plans, they help foster growth and sustainability. This cycle of revenue and reinvestment helps ensure that the benefits of casino gaming in Virginia are widespread and long-lasting.
For more detailed information on the performance and regulation of Virginia’s casinos, individuals and stakeholders are encouraged to visit the official Virginia Lottery website dedicated to casino and sports betting oversight.
