Virginia Lottery reports $56.6 million in casino gaming revenue for September 2024
Bristol, Virginia – The Virginia Lottery has released its report on casino gaming activity for September 2024, detailing the performance of the state’s three operational casinos: HR Bristol, Rivers Casino Portsmouth, and Caesars Virginia.
Casino Revenues and Tax Contributions
In September, the combined adjusted gaming revenue (AGR) from the three casinos totaled $56.6 million. Virginia law imposes a graduated tax on AGR, which represents the difference between wagers and winnings. As a result, the state collected $11.4 million in taxes, which will be distributed to several designated funds, including local governments, problem gambling programs, and the state’s Family and Children’s Trust Fund.
The three casinos contributed the following amounts to the total revenue:
- HR Bristol: $14.1 million
- Rivers Casino Portsmouth: $24.2 million
- Caesars Virginia: $18.3 million
Of the total revenue, $43 million came from slot machines, while $13.5 million was generated from table games.
Casino Overview and Timeline
Each of the three Virginia casinos opened following approval by the Virginia Lottery Board:
- HR Bristol: Opened on July 8, 2022, on the site of the former Bristol Mall.
- Rivers Casino Portsmouth: Opened to the public on January 23, 2023.
- Caesars Virginia: Opened a temporary facility in Danville on May 15, 2023.
These casinos are part of Virginia’s expanding gaming landscape, contributing not only to state revenue but also to local economic development.
Tax Distribution Breakdown
The tax revenue collected from the casinos is distributed according to state regulations:
- Host City or Regional Improvement Commission (RIC): $3.6 million
- Problem Gambling Treatment and Support Fund: $91,136
- Family and Children’s Trust Fund: $22,784
- Remaining Funds to the Gaming Proceeds Fund: $7.6 million
The distribution for each casino’s contribution is as follows:
- HR Bristol: Contributed $2.5 million in taxes
- Rivers Casino Portsmouth: Contributed $5.6 million
- Caesars Virginia: Contributed $3.3 million
Host cities and the RIC benefit from a share of the taxes, while smaller allocations go toward addressing problem gambling and supporting families through the Family and Children’s Trust Fund. The remaining funds are held in the Gaming Proceeds Fund to support future state initiatives.
Supporting Local Communities
The gaming industry’s contribution extends beyond revenue generation. A portion of the taxes supports local host cities, while another portion funds the Problem Gambling Treatment and Support Fund to address gambling-related issues. The Family and Children’s Trust Fund receives 0.2% of the taxes to assist families in need across the state.
Virginia’s approach to casino gaming demonstrates a commitment to balancing economic growth with responsible gaming practices. With the positive financial impact of these casinos becoming clear, the state aims to sustain this growth while continuing to provide essential resources to the communities they serve.
