Virginia sports betting handle hits $426m in April
Bets were up by 7 per cent year-on-year.
US.- Virginia’s sports betting handle was $426m in April, according to the Virginia Lottery. That’s a rise of 7 per cent compared to April 2022, but a 16.7 per cent decrease compared to the $511.6m reported in March 2023. Virginians have wagered more than $10bn since the industry first launched in January 2021.
Virginia’s bettors won $380.8m, meaning sportsbooks kept just over $45m in gross revenue (and $38.9m in taxable revenue after deductions), a 10.6 per cent hold. For the first four months of 2023, the industry generated $157.1m in revenue. That’s an increase of 156.7 per cent when compared to the same period in 2022.
The state took in $5.8m in taxes for April, with $5.65m going to the Virginia General Fund and $145,000 left over for the Problem Gambling Treatment and Support Fund.
Casinos in Virginia
The Virginia Lottery had already released its report on casino gaming activity from Hard Rock Hotel & Casino Temporary Bristol and Rivers Casino Portsmouth for April. Gaming revenue from the Virginia casinos totalled $35.4m. Slots generated $25.1m and table games registered 10.2m.
Hard Rock Casino Bristol recorded $14.04m in revenue, an increase from $13.8m in March. Some $11.29m came from slots and $2.75m from table games. The Virginia Lottery Board approved the casino licence for Hard Rock Hotel & Casino Bristol in April 2022, and the Hard Rock Hotel & Casino Temporary Bristol on the site of the former Bristol Mall opened to the public on July 8, 2022.
Rivers Casino generated $21.33m, with $13.83m from slot machines and $7.50m from table games. The venue received its casino licence in November 2022 and opened for business on January 23, 2023.
