Virginia casino revenue decreases in January
Casino gaming revenue totalled $72.3m.
US.- The Virginia Lottery has released its report on casino gaming activity at Hard Rock Hotel & Casino Bristol, Rivers Casino Portsmouth, and Caesars Virginia for January. Casino gaming revenue totalled $72.3m, down 3.5 per cent from December 2024’s $74.9m.
Of the total adjusted gaming revenue (AGR), $53.7m came from slots and $18.5m from table games. Hard Rock Bristol generated AGR of $18.5m (slots $15.1m and table games $3.3m), Rivers Casino Portsmouth $25.2m (slots $17.2m and table games $8m), and Caesars Virginia $28.5m (slots $21.3m and table games $7.1m).
Casinos paid $13m in taxes to the Gaming Proceeds Fund. The tax is distributed to the Problem Gambling Treatment and Support Fund, the Family and Children’s Trust Fund, and the host city. For the Bristol casino, statute specifies the portion of taxes reserved for the host city go to the Regional Improvement Commission.
Virginia’s sports betting handle was $734m in December, up 16 per cent compared to December 2023 but 3.5 per cent behind November’s record of $761m. Mobile wagers reached $729.5m while bettors wagered $4.9m at retail locations.
According to the Virginia Lottery report, bettors won $684.8m and operators held 6.75 per cent. Adjusted gross revenue after player winnings came to $43.9m, with just $12,883 from retail. The revenue total was 45 per cent behind November’s record of $80.6m.
Fairfax casino bill moves forward in Virginia Senate
In January, Senate Bill 982 was approved by the Virginia Senate Finance and Appropriations Committee in a 9-to-6 vote. If passed, voters in Fairfax County would vote on a proposal for a casino in Tysons.
SB 982 is sponsored by Sen. Scott Surovell, who estimates that a casino and entertainment district in Tysons would bring over $150m in new tax revenue for Fairfax County. Surovell said: “Positive action reflects that many of the concerns that have been raised about the project were in fact addressed by the Joint Legislative Audit and Review Commission (JLARC) report on casino gaming in the commonwealth, and that this project presents a huge opportunity to fund school construction in the commonwealth.”
