Gaming in Virginia: casino revenue increases in December
Casino gaming revenue for the month totalled $74.9m, up 17.7 per cent from November.
US.- The Virginia Lottery has released its report on casino gaming activity at Hard Rock Bristol, Rivers Casino Portsmouth and Caesars Virginia for December 2024. Casino gaming revenue for the month totalled $74.9m, up 17.7 per cent from November’s $63.6m. Slots generated $56.6m and table games $18.3m.
Hard Rock Bristol posted adjusted gaming revenue of $20.6m (slots $17m and table games $3.5m), Rivers Casino Portsmouth $25.9m (slots $17.9m and table games $7.9m) and Caesars Virginia $28.3m (slots $21.5m and table games $6.8m).
Casinos paid $16.2m in taxes to the Gaming Proceeds Fund. The state 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, the statute specifies that the portion of taxes reserved for the host city go to the Regional Improvement Commission (RIC). Hard Rock Bristol paid $13.7m, Rivers Casino Portsmouth $5.9m and Caesars Virginia $6.5m.
Virginia’s sports betting handle was $761m in November, up 19.1 per cent compared to November 2023 and 9.3 per cent ahead of October 2024 ($696.1m). It was a new record for the state and the first time Virginia’s handle has surpassed $700m.
Recently, Virginia senator Mamie Locke pre-filed a bill that would legalise online casinos in the state. Locke’s proposal includes live dealer games. Under the legislation, casinos would pay a $1m application fee. Virginia would tax the industry at 15 per cent, with 2.5 per cent going to responsible gambling efforts, while 97.5 per cent would go to the general fund.
The provisions outlined in the bill include licences that remain valid for five years, distinct branding requirements for each platform, including secondary brands for poker platforms, and advertising rules that mandate the display of responsible gambling information.
