Virginia casinos generate $62.7 million in May revenue, contributing $11.3 million in taxes to state funds

The Virginia Lottery has released its report on casino gaming activity for May 2024, revealing that the state's three operating casinos generated a total of $62.7 million in gaming revenues. The casinos contributing to this figure are Hard Rock Bristol, Rivers Casino Portsmouth, and Caesars Virginia.

Gaming revenues from slot machines totaled $45.7 million, while table games contributed $17 million. The breakdown of the adjusted gaming revenue (AGR) is as follows:

• HR Bristol: Slots - $12.4 million, Table Games - $3.1 million, Total - $15.5 million
• Rivers Casino Portsmouth: Slots - $18.6 million, Table Games - $8.4 million, Total - $27 million
• Caesars Virginia: Slots - $14.7 million, Table Games - $5.6 million, Total - $20.3 million

Virginia law assesses a graduated tax on a casino’s AGR, resulting in $11.3 million in taxes paid to the Gaming Proceeds Fund for May.

The tax distributions are allocated to the Problem Gambling Treatment and Support Fund, the Family and Children’s Trust Fund, and the host cities. For the Bristol casino, a portion of the taxes is directed to the Regional Improvement Commission (RIC).

The monthly tax allocation is as follows:

• HR Bristol: Total Tax - $2.8 million, Host City/RIC - $927,767, Problem Gambling Fund - $22,266, Family and Children’s Trust Fund - $5,567, Gaming Proceeds Fund - $1.8 million.
• Rivers Casino Portsmouth: Total Tax - $4.9 million, Host City - $1.6 million, Problem Gambling Fund - $38,879, Family and Children’s Trust Fund - $9,720, Gaming Proceeds Fund - $3.2 million.
• Caesars Virginia: Total Tax - $3.7 million, Host City - $1.2 million, Problem Gambling Fund - $29,208, Family and Children’s Trust Fund - $7,302, Gaming Proceeds Fund - $2.4 million.

The Virginia Lottery Board approved the licenses for these casinos over the past two years, with HR Bristol opening in July 2022, Rivers Casino Portsmouth in January 2023, and Caesars Virginia in May 2023.