Virginia Lottery reports $63.1 million in casino gaming revenue for August 2024
Birstol, Virginia – The Virginia Lottery released its report on casino gaming activity for August 2024, revealing that the state’s three operating casinos—HR Bristol, Rivers Casino Portsmouth, and Caesars Virginia—generated a total of $63.1 million in gaming revenue. The casinos paid $11.8 million in taxes to the Gaming Proceeds Fund, which supports various state funds and the host cities of each casino.
Casino Revenues and Contributions to the State
During August, the Virginia casinos saw significant revenue from both slot machines and table games. HR Bristol generated $15.9 million in adjusted gaming revenue (AGR), including $13.3 million from slots and $2.7 million from table games. Rivers Casino Portsmouth led the state with $26.6 million in AGR, with slots contributing $19.2 million and table games $7.5 million. Caesars Virginia reported $20.5 million in AGR, with $15.6 million from slots and $4.8 million from table games.
Virginia law imposes a graduated tax on a casino’s AGR, defined as wagers minus winnings. In August, HR Bristol paid $2.87 million in taxes, Rivers Casino Portsmouth contributed $5.21 million, and Caesars Virginia paid $3.69 million, totaling $11.77 million in state taxes. These taxes are distributed among the Problem Gambling Treatment and Support Fund, the Family and Children’s Trust Fund, and the host city, with specific allocations varying according to statutory guidelines.
Distribution of Casino Taxes to State and Local Funds
A portion of the state tax from each casino is allocated to the host city, supporting local infrastructure and community projects. For HR Bristol, $956,411 of the taxes went to the Regional Improvement Commission (RIC). Rivers Casino Portsmouth contributed $1.68 million to its host city, while Caesars Virginia allocated $1.23 million to Danville.
Additionally, the Problem Gambling Treatment and Support Fund received $94,121, divided among the three casinos according to their total tax contributions. The Family and Children’s Trust Fund received $23,530, also distributed among the casinos. The remaining $7.78 million of the tax revenue was deposited into the Gaming Proceeds Fund, supporting various statewide initiatives.
Background on Virginia’s Casino Industry
Virginia’s casino industry is relatively new, with the first license granted to HR Bristol in April 2022. The temporary facility at the former Bristol Mall opened to the public in July 2022. Rivers Casino Portsmouth received its license in November 2022 and opened in January 2023, followed by Caesars Virginia, which was licensed in April 2023 and opened its temporary facility in Danville in May 2023.
The expansion of casino gaming in Virginia has brought significant economic benefits to the state, including job creation, increased tourism, and substantial contributions to local and state funds. Governor Youngkin and other state officials have lauded the success of the casinos, noting their positive impact on Virginia’s economy and the valuable support they provide to local communities.
As the industry continues to grow, the Virginia Lottery and other state agencies will closely monitor casino revenues and ensure that funds are used to support problem gambling treatment, family support services, and infrastructure improvements in host cities. The successful operation of these casinos demonstrates the state’s commitment to balancing economic growth with responsible gaming practices, benefiting both residents and the broader community.
